Arsenal has taken a major hit in their value in the latest value figures released by KPMG and published by Football Benchmark.
The international accounting firm has been monitoring the values of football teams around the world and they have released their latest numbers for European clubs.
Six Premier League teams make up their top ten of the ranking that is still being led by Real Madrid,
The Spaniards saw their value increase by 1.5% to remain top of the standings while Manchester United also remain second, but their value did drop by 2%.
The biggest mover is European champions and Premier League champions-elect, Liverpool. The Reds moved up two places with an increase of 19.3% to see them move into the fifth position.
Arsenal dropped down two places to be placed 10th on the table, having lost 13.2% of their value over the past 12 months.
Chelsea, Tottenham and Manchester City are the other Premier League teams who are ahead of Arsenal in the standings.
Arsenal has had a tough time in recent seasons and Unai Emery’s failure to improve on what Arsene Wenger left has seen the club continually decline both on and off the pitch.
However, Mikel Arteta has made a fine start and fans will hope that the Spaniard will see a turnaround in fortunes at the club.