Real Madrid is the ranked top of Top 25 Ranking of Europe's Most Valuable Football Associations according to research from BDO Consulting.
With a brand value of €1,063 million, Real Madrid is the only association with a brand value which exceeds €1 billion. Second place, with a brand value of €948 millions, is FC Barcelona and third is Manchester United.
The ranking is based on research, which determines brand value using current and future income flow and expert opinion.
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