Old Trafford club top the list from Bernabeu and Emirates teams.
Manchester United have retained their status as the richest club in the world beating off competition from Real Madrid and Arsenal.
For the seventh consecutive year the Red Devils are number one according to the Forbes 2011 Soccer Valuation survey.
The Old Trafford club are valued at $1.86bn (£1.13bn) an increase of just $30million from 2010.
The club’s commercial revenues increased to $122million due to deals with Turkish Airlines, Betfair and other telecommunications companies.
Forbes released the list, which will be featured in the 9 May issue of the magazine, on Wednesday.
Real Madrid are again No2 with a value of $1.45bn (£876m), followed by Arsenal at $1.19bn (£719m).
Bayern Munich at $1.1bn (£664m) and Barcelona, who drop one spot to No5, with a value of $975m (£589m).
The other Premier league in the top 10 are Chelsea in seventh worth $658m (£397m) and Liverpool in ninth valued at $552m (£333m).
Tottenham Hotspur are 11th worth $412m (£249m) and Manchester City are 15th at $291m (£176m).
AC Milan are sixth $838m and Inter Milan 10th valued at $441m.
Forbes said it values teams based on what they have been sold for in the past relative to sales and profits, broadcast agreements and debt from new or pending stadium deals.
The magazine will include articles on the highest-paid players and on Stan Kroenke, the American businessman who recently acquired a controlling interest in Arsenal.