Real Madrid third on rich list

Real Madrid have been named as the world’s third-richest sporting institution in a list compiled by Forbes magazine.

The list is headed by the New York Yankees baseball team, who are valued at $363m, with Manchester United in second spot on $293m.

The Spanish champions are third on $255m ahead of the Dallas Cowboys and Los Angeles Dodgers.

Bayern Munich and the Boston Red Sox share sixth place followed by the New England Patriots and Barcelona, the Catalans being valued at $176m.

Tags Forbes Manchester United New York Yankees