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April 5, 2007
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ManU Remains Atop Forbes’ Soccer List; Ronaldinho Top Earner

Manchester United was valued as the world’s richest soccer club at $1.5B, according to FORBES, seeing its value increase 6% from a year ago. Real Madrid remained second at $1.0B, while Arsenal moved into third place, seeing the club’s value increase 9% to $915M. Juventus, which was relegated to Serie B in Italy after a match-fixing scandal last year, saw the biggest drop in value, down 18% from a year ago. On the player side, earnings (salary plus endorsements) for the ten best-paid soccer players rose 20% last year. Ronaldinho became the top earner at $29.5M, knocking Real Madrid MF David Beckham from the top of the list for the first time since ’04. Beckham came in second at $29.1M (FORBES, 4/16 issue).

FORBES' SOCCER TEAM VALUATIONS
RK
TEAM
NATION
CURRENT VAL. ($M)^
% +/-
REVENUES ($M)
OPER. INCOME ($M)^^
1
ManU
England
$1,453
6%
$310
$92
2
Real Madrid
Spain
$1,036
2%
$374
$83
3
Arsenal
England
$915
9%
$246
$20
4
Bayern Munich
Germany
$838
9%
$262
$62
5
AC Milan
Italy
$824
-10%
$305
$46
6
Juventus
Italy
$567
-18%
$321
$45
7
Inter Milan
Italy
$555
10%
$264
$26
8
Chelsea
England
$537
6%
$283
-$37
9
Barcelona
Spain
$535
22%
$331
$12
10
Schalke 04
Germany
$471
45%
$157
$37
11
Liverpool
England
$454
28%
$225
$37
12
Olympique Lyonnais
France
$343
65%
$163
$10
13
Newcastle
England
$260
-14%
$159
$11
14
Tottenham
England
$243
27%
$137
$9
15
AS Roma
Italy
$224
-15%
$162
$53
16
Hamburg SV
Germany
$221
NA
$130
$31
17
Manchester City
England
$208
-6%
$114
$9
18
Dortmund
Germany
$199
61%
$114
$1
19
Ajax
Holland
$196
13%
$95
$9
20
Celtic
Scotland
$185
18%
$106
$7
21
Everton
England
$165
34%
$107
-$15
22
Olympique Marseille
France
$157
NA
$105
$6
23
West Ham
England
$156
NA
$111
$6
24
Rangers
Scotland
$147
32%
$113
$12
25
Aston Villa
England
$140
16%
$91
-$21

WORLD'S TOP EARNERS IN SOCCER FOR '06
RANK
PLAYER
CLUB
NATIONAL TEAM
EARNINGS ($M)
1
Ronaldinho
Barcelona
Brazil
$29.5
2
David Beckham
Real Madrid
England
$29.1
3
Ronaldo
AC Milan
Brazil
$23.4
4
Wayne Rooney
ManU
England
$17.2
5
Michael Ballack
Chelsea
Germany
$16.8
6
Thierry Henry
Arsenal
France
$15.8
7
Zinedine Zidane
Real Madrid
France
$15.6
8
Fabio Cannavaro
Real Madrid
Italy
$14.6
9
John Terry
Chelsea
England
$14.3
10
Steven Gerrard
Liverpool
England
$14.2

NOTES: Revenues and operating income are for the ’05-06 season and converted into U.S. dollars based on June 30, 2006, exchange rates. NA = Not available. ^ = Estimates are based on past transactions, enterprise values (market value plus debt) of publicly-traded teams and current stadium deal (unless a new stadium is pending). ^^ = Operating income is EBITDA.


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