Real Madrid, who have topped the list five times in the past, edged Barcelona 2-1 in 'El Clasico' on Saturday but find themselves second best off the pitch with a valuation of $4.75 billion.
"The pain is far from over, with a worsening decline in matchday revenue during the current season, as most of the teams in Europe's top leagues still permit few fans to attend games," wrote Forbes' assistant managing editor Mike Ozanian.
Liverpool face Madrid in Spain later on Tuesday before next week's return fixture at Anfield, where the Merseyside club have struggled in the Premier League this season, with matches taking place without fans due to the COVID-19 pandemic.
Benitez, who managed Liverpool from 2004 to 2010 and had a short spell at Madrid, said it was crucial the English side get a goal in the first leg.
Asensio finally gave Madrid the lead late in the 41st minute after his side had two goals ruled out for offside, latching on to a Casemiro through ball and curling his effort into the bottom corner despite losing his footing as he took the shot.
Real then had a goal ruled out for offside for the third time but eventually got the all-important second goal when Benzema headed home a cross from Vinicius Jr. in the 73rd minute.
Central defender Ramos picked up a calf injury while doing warm-down exercises with Spain after their 3-1 victory over Kosovo on Wednesday. He came on as an 86th-minute substitute in the World Cup qualifier.
The 35-year-old looks set to be absent for both legs of the upcoming Champions League quarter-final meeting with Liverpool, as well as next Saturday's Clasico against Barcelona.
*It's great that we've secured Martin to come to us until the end of the season.
* Martin will provide us with quality offensive options and we're all excited to be integrating him into our plans between now and May.