Manchester United Named Most Valuable Club Ahead of Real Madrid by Auditors KPMG

Manchester United have been named as the most valuable club in Europe ahead of Spanish giants Real Madrid and Barcelona, with auditors KPMG valuing the Old Trafford outfit at €3.004 billion (£2.61 billion). 

KPMG's report (via ESPN FC's Rob Dawson) found Real to be worth €2.895 billion and Barcelona €2.688 billion, while Bayern Munich were fourth at €2.367 billion. 

Per Sky Sports News HQ's Kaveh Solhekol, the Red Devils reached a milestone never previously achieved:

KPMG's previous rankings had put Real and United joint top at €2.9 billion, per ESPN FC's Ian Holyman.

The latest report saw United's local rivals Manchester City (€1.909 billion) fifth in the rankings, with Arsenal, Chelsea, Liverpool, Juventus and Tottenham Hotspur completing a top 10 dominated by Premier League sides. 

A lack of success off the field recently has clearly not stalled United's ability to make money.

The Red Devils have not won the Premier League since Sir Alex Ferguson's final season in charge in 2012-13, and they have not finished in the top four in either of the last two campaigns—although their UEFA Europa League triumph in 2016-17 means they will play a part in next term's UEFA Champions League.

Per Dawson, 26 global sponsorship deals and huge Premier League broadcasting rights have played a key role in United's financial success, with the club recently projecting full-year revenues of between £560 million and £570 million.