BEIJING, May 2 -- Manchester United is the most valuable team in world soccer for a second straight season and likely to hold that position next year, according to Forbes magazine.

    The Premier League club is worth 1.8 billion U.S. dollars, an increase of 347 million dollars or 24 percent on last year's valuation, according to the American business magazine.

    Taking into account revenue growth, profitability and debt levels, Forbes ranked Spanish powerhouse Real Madrid second at 1.285 billion dollars, with Arsenal third at 1.2 billion dollars -- the same top three as last year.

    United was one of four English clubs in the top 10, with Liverpool the big mover in the list, going up from 11th last year to fourth despite the wrangles between American co-owners Tom Hicks and George Gillett Jr.

    Bayern Munich was fifth, followed by AC Milan, Barcelona, Chelsea, Juventus and Schalke.

    David Beckham returned to the top of the richest soccer player list after his lucrative move to the Los Angeles Galaxy pushed Ronaldinho down to second place.

    Beckham is worth 49 million dollars, according to Forbes, with the Brazil forward at 33 million dollars.

    The status quo in the club placings could continue next year, with Manchester United set to reap the rewards of a place in next month's Champions League final.

    United, which is owned by American businessman Malcolm Glazer, beat FC Barcelona 1-0 on Tuesday to reach the showpiece in Moscow.

    "Advancing to the Champions League final will mean in excess of 45 million dollars for Man U and likely assures it of returning atop our list next year," Forbes associate editor Jack Gage said.

    "Actually winning the Champions League final wouldn't have much of an immediate impact on the team, but would bolster its already sterling brand as it tries to further expand its fan base throughout Europe and Asia."

    Forbes, which released its annual list Thursday, attributed United's increased value partly to the expansion of its Old Trafford stadium to 76,000 seats and higher ticket prices -- both of which should secure future income.

    "That said, the club has collateralized a great deal of debt as part of the Glazer purchase against ticket sales, meaning the club won't see a chunk of that revenue until the debt is paid off," Gage said.

    "Debt on the books makes a team more expensive to buy, but Man U's status as a cash-generating powerhouse in the biggest league in Europe should support that debt with room to spare."

    Forbes said United's value vindicated Glazer's decision to pay 1.5 billion dollars for the club in 2005, although Real Madrid had an operating profit of 112 million dollars to United's 111 million dollars.

    Both Madrid and Arsenal increased in value by a similar amount to United over the past year. Forbes said the general rise in soccer clubs was reflected by several recent high-profile takeovers and the possibility of more.

    As well as Glazer's 2005 takeover of United, eighth-place Chelsea is owned by Russian billionaire Roman Abramovich and Liverpool is co-owned by American businessmen Hicks and Gillett.

    That leaves Arsenal as the only one of England's so-called "big four" to remain in the hands of its long-term owners, although the London club is coveted by American investor Stan Kroenke and Russian billionaire Alisher Usmanov.

    "The steady march of U.S. investors buying UK clubs has meant increased visibility in the investment community," Gage said. "We've received calls from banks and wealth managers interested in learning more."

    (Source: Shanghai Daily/Agencies)