Manchester United named world's fifth-most valuable sports team

Manchester United retain their place as the world's fifth-most valuable sports team, while Real Madrid slip down to second place behind NFL giants Dallas Cowboys.

Manchester United have retained their place in Forbes' list of the top-five most valuable sports teams in the world.

The Red Devils, who were ranked first in 2011 and 2012, boast a value of £2.5bn - enough to keep them above NFL side New England Patriots (£2.4bn) and NBA outfit New York Knicks (£2.2bn).

Real Madrid have slipped from top spot down to second following a three-year spell at the summit, despite seeing their value rise by 12.5% to £2.75bn.

The accolade of world's most valuable side now belongs to NFL giants Dallas Cowboys, who have climbed one place since 2015 with an estimated value of £3bn.

Barcelona and New York Yankees complete the top five, meanwhile, with respective valuations of £2.6bn and £2.5bn.

It is the first time since 2011 that a soccer team has not topped the list.

Cristiano Ronaldo during the Euro 2016 Group F game between Portugal and Iceland on June 14, 2016
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