Real Madrid remained the top valuable football team in the world for the fourth consecutive year, according to American business magazine Forbes.

The Spanish giants top the list with a value of $3.65 billion, having generated more revenue than any other football team for 11 straight seasons, Forbes said on Wednesday.

Real Madrid's traditional rivals Barcelona came second with $3.55 billion, followed by Manchester United ($3.32 billion), Bayern Munich ($2.68 billion) and Arsenal ($2.02 billion).

Five of the top 10 teams and eight of the top 20 are English, thanks to a notable increase in television revenue for Premier League clubs, Forbes added.

"Escalating payouts from television agreements, shirt and kit deals, sponsors, and the Champions League are continuing to fuel higher values for the world’s top soccer teams," the magazine said.

"As a result, investors who feasted on soccer teams during the past decade or so are now looking very smart–especially those who bought English teams."

In sports, Real Madrid are only bettered by American Football team Dallas Cowboys, who are valued at $4 billion.

Real Madrid will face city rivals Atletico in the UEFA Champions League final on 28 May.

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