Arsenal are regarded as a more valuable club than Chelsea and Manchester City in Forbes' richlist for 2009.

Manchester United have been named No1 - ahead of the USA's own Dallas Cowboys.

But the surprise will be Arsenal, where manager Arsene Wenger has refused to spend big in this summer's transfer market.

Liverpool are down in 18th place, Chelsea 42nd and Tottenham 65th, while Manchester City just made the top 100 list.

Forbes's 10 most valuable sports teams: -

1 - Manchester United - $1.870bn (£1.144bn) 2 - Dallas Cowboys - $1.650bn (£1.009bn) 3 - Washington Redskins - $1.550bn (£948m) 4 - New York Yankees - $1.500bn (£918m) 5 - New England Patriots - $1.361bn (£833m) 6 - Real Madrid - $1.353bn (£828m) 7 - Arsenal - $1.200bn (£734m) 8 - New York Giants - $1.183bn (£724m) 9 - New York Jets - $1.170bn (£716m) 10 - Houston Texans - $1.150bn (£704m)