Real Madrid Topples Man United As Europe

By Nigel Philips

For the first time in the last three years, Manchester United have been overtaken by Real Madrid as the 'most valuable' club in Europe.

The latest release by accounting firm, KPMG, is based on the 2016-2017 and 2017-2018 seasons.

KPMG takes into account the clubs’ 'enterprise value' based on popularity, profitability, broadcasting rights, stadium value and potential for the period cited.

Real Madrid, who won the Champions League in both seasons, have leapfrogged United into top spot.

It is claimed the Spanish giants are worth around £2.91bn. while United, who had led the way for the last three years, are valued at £2.83bn.

United's failure to reach the latter stages of the Champions League has seen them lose ground.

A further five Premier League clubs make the top 10 – Manchester City, Champions League finalists Liverpool and Tottenham, and Europa League finalists Chelsea and Arsenal.

City are in fifth, behind Bayern Munich and Barcelona, with a value of £2.2bn.

Juventus are the other non-English side to make the top 10, with West Ham United, Leicester City and Everton making the overall 32-team shortlist.

Celtic have also become the first ever Scottish club to make the prestigious list.

The author of the report, Andrea Sartori said: "At league level the English Premier league has confirmed its absolute dominance, having nine clubs in the top 32 and accounting for 43% of the total aggregate value."

"The overall enterprise value of the top 32 clubs is driven primarily by an aggregate 5% increase in total operating revenues," he added.

"On the other hand, staff costs continued to grow too, with the average staff costs-to-revenue ratio of the top clubs increasing by four percentage points, up to 63%."