Paris Saint-Germain are the most economically powerful club in the world while Manchester United find themselves down in 16th.
The annual Soccerex Football Finance 100 has placed the French giants ahead of Manchester City with City, Tottenham, Liverpool, Arsenal and Chelsea making it into the top ten.
But United find themselves all the way down in 16th and just five places above Leicester City.
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The rating is based on the value of the current squad, tangible assets, finance available in their accounts and potential owner investment and net debt for the financial year of 2017/2018.
Check out the top 25 below:
1. PSG (Up 1 place compared to ls)
2. Manchester City (Down one)
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3. Bayern Munich (No movement)
4. Tottenham (No movement)
5. Real Madrid (Up one)
6. Arsenal (Down one)
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7. Chelsea (Up three)
8. Liverpool (Up three)
9. Juventus (No movement)
10. Borussia Dortmund (Up five)
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11. Atletico Madrid (Up two)
12. Barcelona (Down five)
13. RB Leipzig (Up three)
14. Hoffenheim (New)
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15. Guangzhou Evergrande (Down three)
16. Manchester United (Down eight)
17. Napoli (Up six)
18. Los Angeles FC (New)
19. Bayer Leverkusen (Down five)
20. Monaco (Up two)
21. Leicester (Down two)
22. LA Galaxy (Down four)
23. Zenit St Petersburg (Up six)
24. Nagoya Grampus (New)
25. Inter Milan (Down one)
PSG have taken top spot after reducing their debt by £58.2 million, while City's debt levels had increased by £74.8 million in the same time period.
United's were in the top ten during the last tumble to 16th is discussed in depth and states:
"The club continue to successfully leverage their global brand to generate significant revenues - they ranked third behind the two Spanish giants in Deloitte's recent revenue-based report - but this only tells part of the story.
"Over 12 months, the Red Devils have experienced a depreciation in squad value, tangible assets and cash levels plus an increase in debt.
"The club have lost ground on both of their biggest regional rivals and it is interesting to note that Liverpool have now overtaken United in our report, as well as in the league."
Spanish giants Barcelona also manage to miss out on the top 10 as well as Atletico Madrid.
German side Hoffenheim and Nagoya Grampus are new entries on the list coming in 14th and 24th respectively.
Featured Image Credit:Topics: Manchester City, Chelsea, Tottenham Hotspur, Football, Manchester United, Barcelona, PSG, Arsenal, Real Madrid