Real Madrid is once again the most valuable football club in Europe (and the World) due to an 8% annual Enterprise Value (EV) increase. This performace put Manchester United at a safe distance, as the Red Devils’ Enterprise Value has grown by only 4% in a year.
Barcelona is in the lowest seat on the podium, but the Catalans had an impressive annual EV increase of 19%.
According to KPMG, the positions of the top three clubs atop the podium have been stable over the first three editions.
Over the five years, Real Madrid managed to mantain their leadership, in particular thanks to their international on pitch success, the resultant cashed-in UEFA prizes (the so-called Merengues had won three UEFA Champions League in a row) and a 41% aggregate growth in commercial revenue.
For Manchester United, after three years on top, Premier League’s club retained their runners-up position for the second consecutive year. Red Devils had modest sporting results over the past five years. But they stayed up on the podium due to the brand’s appeal and an impressive cumulative EBIT of €338 million, an average of €68 million per year.
Regarding Barcelona, the Catalans achieved record total operating revenues of €839 million during the 2018-2019 season. Such turnover was mainly due to a 35% year-on-year growth in broadcasting revenues, up to €298 million. KPMH says that the main drivers behind this significant growth were a new, more remunerative UEFA cycle.
Read more: Top 10 Football Clubs by Wages
Interestingly, these three clubs by EV coincide with the top three by total operating revenues in the 2018-2019 campaign. However, the ranking is not the same.
Surfing the trends
For the fourth consecutive year, the overall enterprise value of the 32 most prominent European football clubs has increased to €39.7 billion, an annual growth of 12%.
KPMG highlights the impact of coronavirus pandemic. The outbreak will change the ecosystem, including the pace of growth of Europe’s football elite.
At club level, Galatasaray registered the highest (49%) year-on-year EV increase, elevating them five positions up in this ranking, followed by PSG and Inter Milano, wich say growth of 45% and 42%, respectively.
The representation of the big five football leagues remained the same, with 27 clubs among the top 32. The newcomers are Spain’s Valencia and Portugal’s FC Porto, in both case mainly thanks to the financial benefits associated with their participation in the UEFA Champions League season 2018/2019 season.
Top 32 Most Valuable Clubs in Europe 2020
- Real Madrid (Spain) €3,478m
- Manchester United (England) €3,342m
- FC Barcelona (Spain) €3,193m
- Bayern München (Germany) €2,878m
- Liverpool FC (England) €2,658m
- Manchester City (England) €2,606m
- Chelsea (England) €2,218m
- Tottenham (England) €2,067m
- PSG (France) €1,911m
- Arsenal (England) €1,852m
- Juventus (Italy) €1,735m
- Borussia Dortmund (Germany) €1,281m
- Atlético Madrid (Spain) €1,197m
- Inter Milano (Italy) €983m
- Schalke 04 (Germany) €814m
- AS Roma (Italy) €602m
- Napoli (Italy) €590m
- West Ham (England) €561m
- Leicester City (England) €558m
- Olympique Lyon (France) €543m
- Everton (England) €533m
- AC Milan (Italy) €526m
- Ajax (Netherlands) €432m
- Benfica (Portugal) €410m
- Valencia (Spain) €408m
- Sevilla (Spain) €372m
- Galatasaray (Turkey) €366m
- Lazio (Italy) €328m
- Athletic Bilbao (Spain) €3203m
- FC Porto (Portugal) €313m
- Besiktas (Turkey) €310m
- Villarreal (Spain) €301m