Football clubs are some of the most valuable sporting brands in the world. After all, the game is watched by billions of fans across the globe.
In 2018, three of the five most valuable sports teams were European football clubs.
According to Forbes, the NFL's Dallas Cowboys were ranked number one, with an estimated worth of $4.800 billion.
Following closely behind them were Manchester United, Real Madrid and Barcelona, before the New York Yankees rounded off the top five.
But that was last year - and a lot has changed in the months since that list was released.
Brand Finance, the world’s leading independent brand valuation consultancy, have released their annual report on the most valuable and strongest football clubs.
Their analysis considers the performance in both financial and non-financial metrics of each team and has revealed who's leading the way in 2019.
Last year, it was Man United who topped the list, but they've since been replaced by Real Madrid.
Per the report, Real's brand is now worth a whopping £1.416 billion. That's higher than United's, with the Premier League team being valued at £1.266 billion - in second place.
Barcelona are ranked in third, with the club's brand estimated at £1.198 billion. Bayern Munich are worth £1.130 billion, while Manchester City round off the top five, with a worth of £1.079 billion.
Liverpool's brand is worth £1.024 billion, making them the sixth most valuable club, while Chelsea, who rank in seventh place, have a brand worth £832 million.
The report certainly makes for interesting reading and proves that Madrid and Man United are still the world's most valuable football clubs, even after the poor campaigns both have had.
But, with Zinedine Zidane back in the dugout at the Bernabeu and with two summer signings already confirmed, Real are expected to be back fighting for Europe's top trophies next season.
Unfortunately, the same can't be said for United, who limped over the line this season.
A lack of Champions League football could further damage their brand in 2020 and soon, it could be Barca occupying second place on the list.
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