Madrid, July 16 (IANS): Spanish football side Real Madrid has become the most valuable sporting club in the world for the fourth consecutive year, according to Forbes magazine.

The magazine published its rankings of the most valuable sporting institutions on Wednesday with the Spanish football club topping the rankings again, reports Xinhua.

Forbes estimated Real Madrid to be worth $3.26 billion.

Second place in the list was occupied by American football club Dallas Cowboys and baseball team New York Yankees. They were both worth an estimated $3.20 billion.

Real Madrid's bitter rivals, FC Barcelona have fallen from second to fourth in the list with a value of $3.16 billion.

English football club Manchester United dropped from third to fifth on the list with a value of $3.1 billion.

The other places in the top 10 are taken by American sports teams: two National Basketball Association teams Los Angeles Lakers (sixth) and New York Knicks (eighth), National Football League (NFL) sides New England Patriots (sixth) and Washington Redskins (ninth) and Major League Baseball's (MLB) Los Angeles Dodgers (ninth).