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Barcelona has leapfrogged Spanish rival Real Madrid to become the world's most valuable soccer club with a valuation of $4.76 billion, according to a list published by business magazine Forbes on Monday.

Real Madrid, which has topped the list five times in the past, edged Barcelona 2-1 in "El Clasico" on Saturday but finds itself second-best off the pitch with a valuation of $4.75 billion.

Forbes said the average worth of the top 20 clubs has increased by 30% from two years ago to $2.28 billion despite the COVID-19 pandemic impacting matchday revenue, which fell to $441 million last season — down 9.6% from 2017-18.

"The pain is far from over, with a worsening decline in matchday revenue during the current season, as most of the teams in Europe's top leagues still permit few fans to attend games," wrote Forbes' assistant managing editor Mike Ozanian.

European champion Bayern Munich ($4.215 billion) is third on the list while the Premier League's 'Big Six' — Manchester United, Liverpool, Manchester City, Chelsea, Arsenal and Tottenham Hotspur — are in the top 10.

French champion and last year's Champions League runner-up Paris Saint-Germain moved up to ninth after being valued at $2.5 billion with a 129% increase in two years — the biggest increase among the top 10 clubs.

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