Chelsea have been described as a global brand; a 2012 report by Brand Finance ranked Chelsea fifth among football brands and valued the club's brand value at US$398 million – an increase of 27% from the previous year, also valuing them at US$10 million more than the sixth best brand, London rivals Arsenal – and gave the brand a strength rating of AA (very strong). In 2016, "Forbes" magazine ranked Chelsea the seventh most valuable football club in the world, at £1.15 billion ($1.66 billion). , Chelsea are ranked eighth in the Deloitte Football Money League with an annual commercial revenue of £322.59 million.