• The rest of the top 10 is dominated by Premier League sides.
• Manchester City, Liverpool, Chelsea, Arsenal and Tottenham in the illustrious group.
Manchester United have been surpassed by Real Madrid as the most valuable football brand in the world.
According to a report by Brand Finance, the Spanish giants are now worth a staggering £1.44billion (Sh186 billion) after a growth of 26.9 per cent since 2018.
That, accompanied with their recent on-field woes, has left United trailing behind in second place after they fell by 5.8 per cent in the last 12 months to £1.29 billion (Sh167 billion).
'Real Madrid have shown this year who truly reigns supreme in the world of football,' said Bryn Anderson, director at Brand Finance.
'They triumph not only as the most valuable and strongest brand but their enterprise value and stadium are also ranked second to none.
'The most successful club in the history of European football is finally reaping the benefits of decades of spectacular on- and off-pitch performance.'
The rest of the top 10 is dominated by Premier League sides with Manchester City, Liverpool, Chelsea, Arsenal and Tottenham in the illustrious group.
Barcelona, Bayern Munich and Manchester City have kept their positions as the other members of the top five.
Barcelona are up 11.8 per cent to £1.22bn, Bayern have also grown and their 13.3 per cent rise sees them now worth £1.15bn while recently crowned back-to-back Premier League champions Manchester City are up 14.4 per cent to £1.10bn.
Consecutive Champions League finals have seen Liverpool achieve an impressive 20 per cent growth. They are now said to be worth £1.04bn and that figure is surely only going to continue to rise as they improve under Jurgen Klopp.
Chelsea follow them in the list in seventh. They are worth £846m but have suffered a 1.8 per cent loss in growth.
PSG's plethora of big names continue to earn the more market position and a rise of 21.3 per cent has seen them valued at £799m.
North London rivals Arsenal and Tottenham conclude the top 10 with the Gunners falling by 0.8 per cent to £773m. Spurs, who are starting to reap the rewards of their plush new stadium, have enjoyed growth worth 20.4 per cent and they are adjudged to be worth £662m.
The study also found that the Premier League is the most widely followed national competition across key European markets.
English clubs dominate that list with 43 per cent of total brand value. The Bundesliga follows closely behind with 13 clubs but ultimately ranks behind LaLiga for combined brand value.
Wolves' sensational return to the Premier League seems to be paying off away from the pitch as well as on it. They are now said to be the most valuable new entrant to the Brand Finance Football 50 this year, ranked 28th – above Ajax, Sevilla, and Celtic.