True Madrid's continuing economic success comes despite the recession in Spain Real Madrid has overtaken Manchester United as the world's most effective soccer team, based on business magazine Forbes. It is the first time that Man Utd has lost the most truly effective spot since Forbes first began compiling its record in 2004. Forbes now values the Spanish big at $3.3bn (A2.2bn), with Man Utd in 2nd place on $3.17bn. Barcelona is third. Forbes said Real Madrid's financial success came despite the ongoing problems of the Spanish economy. "Real Madrid has been consistently offering the greatest profits of any soccer team in the world, despite a powerful economic melt down in Spain," said Forbes. "With superstars like Cristiano Ronaldo on the pitch, and instructor Jose Mourinho on the counter, Real Madrid has flourished underneath the authority of billionaire leader Florentino Perez." In visiting its numbers, Forbes discusses a football club's various income streams, such as television money, ticket revenue, merchandise and credits. After Barcelona on $2.6bn, Forbes discovered that Arsenal was the fourth wealthiest club, worth $1.33bn, accompanied by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea ($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m) Mark Beckham, now with French group Paris St-Germain, was the greatest earning player, followed by Real Madrid's Ronaldo.
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