Real Madrid and Barcelona are number one and two in the most valuable football club league table but are followed by a number of Premier League teams.

Manchester United are in third position after their brand value fell by 11 per cent to €1.314 billion (US$1.546 billion); Liverpool, who won their first league title since 1990, are in fourth with their brand value rising six per cent to €1.262 billion (US$1.485 billion). Manchester City, who round out the top five, saw their brand value fall slightly to €1.124 billion (US$1.322 billion).

One of the biggest fallers are Arsenal, who lost 19 per cent of their Brand Finance-rated value €719 million (US$846 million) to rank tenth and fall behind rivals Tottenham.