Real Madrid is the club with the most valuable football brand in the world, ahead of Barcelona and Manchester United, according to a new study.

This is the third year in a row that Real Madrid tops the list of clubs with the most valuable football brand in the world.

The value of the Real Madrid brand is 1 billion 276 million euros. The Barcelona club is worth 1 billion 266 million euros.

In the top five with a value of over 1 billion euros are also clubs such as Manchester United, Manchester City and Bayern Munich.

While the second half of the top ten consists of Liverpool, PSG, Chelsea, Tottenham and Arsenal.

There is no Italian club in the top ten and it is dominated by English clubs.

The study was conducted by Brand Finance with the title “Football 50 2021”.

Among the main reasons why Real Madrid is such a valuable brand, according to the study, is the fact that the Spanish club has been extremely successful in the Champions League in the last decade.