The Premier League leaders come top of Forbes magazine’s list of the 20 most valuable football teams, with Real Madrid second (£859m) and Arsenal third (£767m).
That also puts them ahead of American football giants the Dallas Cowboys (£1.10bn) and baseball outfit the New York Yankees (£1.04bn).
Despite high debt levels, English clubs dominate the top 10, with Liverpool sixth and Chelsea ninth.
The valuations take into account revenue, operating profit, historical transactions and current stadium deals for the 2008-09 season. Peter Schwartz of Forbes, who co-wrote the report, said the figures were “the truest value of the team’s brands”.