Manchester City 'could overtake' United's brand value

“Provided it can navigate further significant sanctions for breaches of financial fair play regulations and manage with a restricted squad in Europe, City’s brand could soon be a far more enticing prospect than United’s for sponsors and fickle international fans.”

City has already expanded into the US - its owners last year announced a tie-up with the New York Yankees, creating a new Major League Soccer club.

In its analysis, Brand Finance said that Manchester United’s value could “plunge” as sponsors turn away from the successful team.

“For now, the brand equity founded on years of glory, shrewd commercial management and stewardship of the brand is shielding United from a more dramatic drop.

“However another season in the wilderness, outside the Champions League, will see brand value truly plunge, and leave few sponsors willing to do a deal with the Devils.”

According to the Football 50 table, Germany’s FC Bayern Münich is the most valuable club at $896m (£532m) - an increase of 8pc from $830m last year.

Real Madrid CF has overtaken Manchester United to place second with a value of $768m, boosted by an improved economic outlook in Spain and the club’s first Champions League title win in 12 years yesterday.

“With arguably the finest player in the world in the shape of Ronaldo and now a first Champions League title in ten years, Real’s brand is back on a solid footing,” Brand Finance said.

At the opposite end of the table, Fulham’s demotion to the Championship has cost it dearly; a 36pc brand value fall is the fastest of any club in the top 50.

"Now in 50th, anything other than promotion next year will see Fulham drop out of the Brand Finance Football 50 for some time to come,” the company said.

The figures used in the table are the costs that a third party would have to pay to license a club’s brand. They take into consideration financial and marketing benchmarks such as squad value, club heritage and revenue growth.

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