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|Manchester United are one of the most popular clubs in the world. (AFP/OLI SCARFF)|
The Red Devils' overall value increased five per cent compared to 2017 to more than €3.2 billion (US$3.77 billion), beating Real Madrid on €2.9 billion and FC Barcelona on €2.8 billion.
"We calculate the assets of each club, if they own a stadium for example, the value of the players, but also the value of the brand or image with advertising contracts and their reach on social networks," said Jacques Boussuge, head of sports advisory at KPMG.
Of the 32 European clubs assessed, Bayern Munich came fourth with €2.55 billion, Juventus were ninth on €1.3 billion, with Paris Saint-Germain in 11th place, with an estimated value of €1.14 billion.
"PSG is progressing ... but it takes time and is limited by financial fair play regulations," Boussuge said.
In total, the financial value of the 32 clubs reached an estimated €32.5 billion, a nine per cent increase on 2017.