Real Madrid behind United in Europe's most valuable club list

Manchester United have been rated as Europe's most valuable club in a new report studying the financial muscle of the continent's top teams. 'The European Elite 2017'.

Manchester United, Real Madrid y Barcelona, clubes más valiosos de Europa según KPMG.

Manchester United have been rated as Europe's most valuable club by a new report into the financial muscle of the continent's top teams.

The report by professional services firm KPMG looked at the finances of 39 clubs based on their popularity on social media channels, revenues for the 2014-15 and 2015-16 seasons, and success in European competitions.

The clubs were then ranked by enterprise value, an accounting measure used to assess how much it would cost to buy any given club or company as it includes a business's total debt, with KPMG using its own formula to reach these valuations.

United top 3 billion euro mark

Despite two relatively disappointing seasons on the pitch between 2014 and 2016, United's value surged clear of Real Madrid and Barcelona last year, becoming the first club to break the three billion euros (£2.7 billion, $3.4 billion) mark for enterprise value.

Las 10 camisetas de clubes de fútbol más valiosas, según KPMG.

Bayern Munich remain in fourth place, while Manchester City edge past Arsenal to take fifth spot, both with enterprise values of just under £1.7 billion.

"The Real Madrid shirt is worth half of that of Manchester United"


Chelsea, Liverpool, Juventus and Spurs fill the next four positions, which means six of the 10 are from the Premier League.

Top 10: European Elite 2017

Club Country Estimated value 1
1 Manchester United England 3.095
2 Real Madrid Spain 2.976
3 Barcelona Spain 2.765
4 Bayern Germany 2.445
5 Manchester City England 1.979
6 Arsenal England 1.956
7 Chelsea England 1.599
8 Liverpool England 1.330
9 Juventus Italy 1.218
10 Tottenham England 1.011
13 Atlético Madrid Spain 793
25 Athletic Spain 300
27 Sevilla Spain 261
28 Valencia Spain 235

1 In millions of euro

Source: Football Club's Valuation: The European Elite 2017 (KPMG).

In a statement, KPMG's global head of sports Andrea Sartori said: "The aggregate value of Europe's leading football clubs suggests that the overall value of football, as an industry, has grown.

"While this is partially explained by football's broadcasting boom, the internationalisation of the clubs' commercial operations, their investment into privately owned and modern facilities, and overall more sustainable management practices are also key reasons for this growth.

"In terms of media rights value, the English Premier League sits comfortably at the top of European leagues, although other major leagues have outlined well-defined strategies to compete for the attention of global fans."