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Liverpool have been named in Forbes magazine's 50 most valuable sports teams for 2019.

Since Fenway Sports Group bought the club in 2010, the Reds' value has steadily increased from $552m (£437m) in 2011 to an astronomical $2.18billion (£1.73bn) in 2019.

That remarkable upturn has seen the club increase its value by nearly 1.3bn since the Americans took charge in October 2015.

The financial growth under FSG has been significant and coupled with success on the pitch the Reds have been ranked as the 45th richest sports team in the world, making the iconic magazine's list for the first time.

(Image: John Powell/Liverpool FC via Getty Images)

Jurgen Klopp's side become only the eighth football team on the list joining Real Madrid who rank third behind New York Yankees in second.

It's NFL side Dallas Cowboys who command first place with a whopping $5bn valuation, according to the respected financial publication.

La Liga champions Barcelona place fourth on $4bn, while Manchester United are sixth after several years ranked as number one.

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Bundesliga giants Bayern Munich are 17th and Premier League winners Manchester City rank as the 25th most valuable sports team.

Meanwhile, Londoner outfits Chelsea and Arsenal operate in 32nd and 42nd respectively.

(Image: Photo by John Powell/Liverpool FC via Getty Images)

John Henry and Tom Werner's other sporting venture the Boston Red Sox are tied in 12th with a value of $3.2bn.

In 2012, Manchester United were the only professional sports team with a valuation of over $2bn and now there are 50, including Liverpool.

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Being named among the world's most wealthy proves the extent of Liverpool's commercial success during FSG's nine-year stint on Merseyside.

The Champions League winners are currently on the final leg of a pre-season tour of the United States, and will play at Yankee Stadium in New York on Thursday in the encouraging knowledge they are among the financial elite.