Only at Newcastle United.

On the same day that relegation to the Championship was confirmed, Newcastle were named as one of the 20 most valuable football clubs in the World.

It was Forbes who released their latest valuations – these aren’t the Deloitte figures which come out each year, whose top 20 is based on revenue each season and Newcastle were 17th in their latest list (2014/15 season revenues).

As you can see below, Newcastle United are ranked as the 20th most valuable of all the football clubs in the World at $383m, which is around £265m at today’s exchange rate.

Last season Newcastle were ranked in 18th place but despite dropping two places, the actual valuation has risen by $34m (from $349m), an almost 9% hike.

Whilst last season’s revenues play a part, Forbes use a number of criteria to value the clubs and obviously the striking thing is that almost all of the 19 clubs ranked with a higher value than Newcastle are Champions League regulars.

Whilst any valuations aren’t going to be exact to the penny, Forbes have no interest in rating Newcastle higher or lower in value than the reality and use the same criteria on every club.

One big reason in favour of Premier League clubs of course, is that as a league their TV revenues are huge and going to have another massive leap starting in the 2016/17 season.

Now of course, Newcastle won’t have any benefit of that new TV deal next season (apart from the parachute payment) whereas West Ham and the six other English clubs in the list will do.

As Newcastle United continue to fall apart under Mike Ashley, West Ham are a new addition to this Forbes top 20 most valuable, with the Hammers showing ambition on and off the pitch, buying players to improve their team now (Payet etc) and moving to a stadium with a higher capacity than Newcastle’s.

Whilst Mike Ashley pushes ahead with plans to develop land opposite the Gallowgate which will prevent any future development of St James Park up to 60,000, next season would have seen NUFC drop to sixth biggest in terms of stadium capacity – behind Manchester United, Arsenal, Liverpool, Manchester City and West Ham. Whilst Tottenham and Chelsea are also pushing ahead with developments that will go beyond the 52,000 St James Park holds.

Never mind though, at least Newcastle United will have the biggest stadium in the Championship next season, something Mike Ashley can take all the credit for…

Here are the Top 20 most valuable football clubs in the World according to Forbes (11 May 2016):

$3645m Real Madrid (£2524.15m at today’s rates)

$3549m Barcelona

$3317m Manchester United

$2678m Bayern Munich

$2017m Arsenal

$1921m Manchester City

$1661m Chelsea

$1548m Liverpool

$1299m Juventus

$1017m Tottenham

$836m Borussia Dortmund

$825m AC Milan

$814m PSG

$655m Schalke

$633m Atletico Madrid

$559m Inter Milan

$542m West Ham

$508m AS Roma

$396m Napoli

$383m Newcastle United (£265.23m at today’s rates)