Real Madrid have been named the most valuable soccer brand in the world, leapfrogging Manchester United, according to Brand Finance's annual report, reports, www.sportspromedia.com/.

Finance's methodology takes in factors such as matchday revenue, broadcast revenue and commercial revenue. It then produces a Brand Strength Index (BSI) score out of 100 and uses this to extrapolate future revenue estimations using royalty rates.

Real Madrid's brand value increased by 26.9 per cent from 2018 to 2019 and is now worth more than €1.6 billion (US$1.79 billion).

The Red Devils have experienced a tumultuous existence since the retirement of Sir Alex Ferguson, going through four managers in six years.

The poor performances on the pitch and lack of exposure from not playing regularly in the Uefa Champions League, have seen public perceptions of the brand drop.

Barcelona, Bayern Munich, Manchester City, Liverpool, Chelsea, Paris Saint-Germain, Arsenal and Tottenham make up the rest of the top ten.

Wolves skyrocketed into the top 50 coming in at 28th as a new entry.