Manchester United is the most valuable European football club, ahead of Spanish giants Real Madrid and Barcelona, according to KPMG.
Manchester United is estimated to have an enterprise value of around €3.25 billion (£2.9 billion).
An “enterprise value” refers to the amount it would cost to buy the company.
KPMG calculated the enterprise value based on the club’s profitability, broadcasting rights, popularity, stadium value and sporting potential in the 2015-16 and 2016-17 seasons.
The top 10 most valuable European teams by enterprise value were:
- Manchester United – €3.255bn
- Real Madrid – €2.92bn
- Barcelona – €2.78bn
- Bayern Munich – €2.55bn
- Manchester City – €2.16bn
- Arsenal – €2.10bn
- Chelsea – €1.76bn
- Liverpool – €1.58bn
- Juventus – €1.30bn
- Tottenham – €1.29bn
Andrea Sartori, KPMG’s global head of sports and author of the report said:
“Despite this year’s growth being lower than last year’s 14 percent growth, the football industry continues its rise, showing for the second successive season an EV increase (9%) for the top 32 clubs included in our ranking.
“Overall growth is driven by different factors, one of these being the increase of operating revenues of the top 32, at 8%.
“Eye-catching transfer deals and spiralling staff costs have not prevented such clubs from registering a striking upward trend, as the profits before taxes increased by some 17 times in comparison to the previous year.
“One of the reasons for this growth can be found in the significant influence exercised by English clubs, as well as the improved financial health of many mid-size clubs within the ranking, which also reflects compliance with the UEFA financial fair play regulations.”