FORBES has released its first-ever franchise valuations of the world's top 20 soccer clubs and ranks ManU at the top at $1.186B in '02-03. ManU's value is 43% higher than the No. 2 ranked club, Italy's Juventus ($828M) and 25% higher than the Redskins ($952M), the highest-valued U.S. franchise according to FORBES. The chart details valuations, as well as operating income and revenue, for the '02-03 season. Club values are FORBES' estimates based on the most recent transactions and the enterprise values of publicly-traded teams. All figures are converted to U.S. dollars based on June 30, 2003, exchange rates. The valuations are based on current stadium deals (unless a new stadium is pending) without deduction for debt (except stadium debt). Here, operating income is EBITD for the '02-03 season. All figures listed are in millions (FORBES, 4/12 issue).
| FORBES' SOCCER CLUB VALUATIONS: '02-03 |
| RK | CLUB/COUNTRY | VALUE | REVENUE | OPER INC. |
| 1) | Manchester United/England | $1,186 | $289 | $91.0 |
| 2) | Juventus/Italy | $828 | $251 | $24.0 |
| 3) | AC Milan/Italy | $759 | $230 | -$9.0 |
| 4) | Real Madrid/Spain | $751 | $221 | $22.0 |
| 5) | Bayern Munich/German | $617 | $187 | $47.0 |
| 6) | Internazionale/Italy | $558 | $186 | $6.0 |
| 7) | Arsenel/England | $482 | $172 | $36.0 |
| 8) | Liverpool/England | $447 | $172 | $61.0 |
| 9) | Newcastle United/England | $398 | $159 | $77.0 |
| 10) | Borussia Dortmund/Germany | $355 | $142 | $40.0 |
| 11) | Barcelona/Spain | $345 | $142 | $7.1 |
| 12) | Schalke 04/Germany | $340 | $136 | $34.0 |
| 13) | Chelsea/England | $339 | $154 | -$19.0 |
| 14) | AS Roma/Italy | $304 | $152 | -$21.0 |
| 15) | Tottenham Hotspur/England | $275 | $110 | $18.4 |
| 16) | Celtic/Scotland | $200 | $100 | $11.8 |
| 17) | Olympique Lyonnais/France | $194 | $97 | $4.9 |
| 18) | Glasgow Rangers/Scotland | $166 | $81 | $12.2 |
| 19) | SS Lazio/Italy | $162 | $102 | -$81.4 |
| 20) | Leeds United/England | $147 | $106 | -$41.5 |
|
| AVERAGES | $442.65 | $159.45 | $16.03 |
