European football clubs took the top two spots among the world’s most valuable teams. According the 2012 World's 50 Most Valuable Sports Teams compiled by Forbes magazine, Manchester United is now the richest sports team valued at $2.23 billion. Real Madrid valued second with $1.88 billion. The Spanish champions Real and 2011 European champions Barca have seen decreases in the value of their brands. The top 50 is dominated by United States teams. Take a look at the top 20:

#1 Manchester United

Value: $2.23 billion

Owner: Glazer family

#2 Real Madrid

Value: $1.88 billion

Owner: Club members

#3= New York Yankees

Value: $1.85 billion

Owner: Steinbrenner family

#3= Dallas Cowboys

Value: $1.85 billion

Owner: Jerry Jones

#5 Washington Redskins

Value: $1.56 billion

Owner: Daniel Snyder

#6 Los Angeles Dodgers

Value: $1.4 billion

Owner: Guggenheim Baseball

#6 New England Patriots

Value: $1.4 billion

Owner: Robert Kraft

#8 Barcelona

Value: $1.31 billion

Owner: Club members

#9 New York Giants

Value: $1.3 billion

Owners: John Mara and Steven Tisch

#10 Arsenal

Value: $1.29 billion

Owner: Stan Kroenke

#11 Bayern Munich

Value: $1.23 billion

Owner: Club members

#12 New York Jets

Value: $1.23 billion

Owner: Robert Wood Johnson

#13 Houston Texans

Value: $1.2 billion

Owner: Robert McNair

#14 Philadelphia Eagles

Value: $1.16 billion

Owner: Jeffrey Lurie

#15 Ferrari

Value: $1.1 billion

Owner: Fiat Group

#16 Chicago Bears

Value: $1.09 billion

Owner: McCaskey family

#17 Green Bay Packers

Value: $1.09 billion

Owner: Shareholder-owned

#18 Baltimore Ravens

Value: $1.09 billion

Owner: Stephen Bisciotti

#19 Indianapolis Colts

Value: $1.06 billion

Owner: Jim Irsay

#20 Denver Broncos

Value: $1.05 billion

Owner: Patrick Bowlen

[See full list on Forbes.com]