English club, Manchester United has replaced European champions Real Madrid, as the world’s most valuable soccer team, according to the annual list published by Forbes.

Manchester United was valued at $3.69 billion, an 11 percent jump compared to last year.

Barcelona were second on the list with a value of $3.64 billion while Real Madrid, who held top spot for the last four years, fell to No. 3 on the list, valued at $3.58 billion. Rounding out the top five are Bayern Munich at No. 4 with $2.71 billion and Manchester City at No. 5 with $2.08 billion.