Europe’s 20 most-valuable football clubs revealed

Manchester United remain England's powerhouse and split the two Spanish giants.

Bayern Munich are fourth with a value almost identical to last year at £2.44bn.

Tottenham have climbed one place to eighth and have leapfrogged north London rivals Arsenal in the process.

The Champions League finalists enjoyed a 15.8 per cent increase to be valued at £1.75bn.

French champions PSG are ninth with a huge 36.7 per cent rise on last year and are now valued at £1.62bn.

Leicester and West Ham also feature in the top twenty meaning the Premier League has eight representatives.

KPMG 's figures were compiled in January however and do not account for any losses that may have occurred as a result of the coronavirus pandemic.

Rich List Rankings

1. Real Madrid (unchanged) - £2.95bn (+1.5%)

2. Manchester United (unchanged) - £2.84bn (-2%)

3. Barcelona (+1) - £2.71bn (+12.2%)

4. Bayern Munich (-1) - £2.44bn (+0.4%)

5. Liverpool (+2) - £2.26bn (+19.3%)

6. Manchester City (-1) - £2.21bn (-0.3%)

7. Chelsea (-1) - £1.88bn (-6.3%)

8. Tottenham Hotspur (+1) - £1.75bn (+15.8%)

9. Paris Saint-Germain (+2) - £1.62bn (+36.7%)

10. Arsenal (-2) - £1.57bn (-13.2%)

Source: KPMG