This article was originally published in the Brand Finance Football 50 2024 report.
Real Madrid reclaims title of world’s most valuable and strongest football club brand
Real Madrid has reclaimed its title as the world’s most valuable football club brand, surpassing 2023’s winner Manchester City FC. With its brand value up 16% to EUR 1.7 billion, Real Madrid’s return to the top is driven by record revenue growth, resulting from continued accomplishments both on and off the pitch.
With a brand strength index (BSI) score of 96.3/100, and equivalent AAA+ rating, Real Madrid also remains the world’s strongest football brand. This exceptional score also makes it one of the strongest brands in the world, even stronger than brands such as Google, Coca-Cola, Ferrari, and Rolex, according to Brand Finance. Real Madrid’s status as one of the world’s most recognisable and prestigious football clubs is underscored by its perfect scores across several metrics, including squad investment, stadia, and sponsorships.
Hugo Hensley, Head of Sports Services at Brand Finance, commented,
“Real Madrid’s return to the top of the ranking highlights a simple conclusion; this club is truly the best in the business. In addition to its exceptional on-pitch success, the club's commercial activities have consistently driven significant revenues and reinforced its global brand influence. As such, Real Madrid has also cemented its position as the world’s strongest football brand. Noting top scores for attributes including its enormous fanbase, rich heritage, and star-studded squad, global sporting fans and sponsors alike cannot deny the immense financial power that this club continues to command.”
Behind Real Madrid, Manchester City FC (brand value up 7% to EUR1.6 billion) is the second-most valuable football club brand, having recorded slightly slower growth in its brand value. Nonetheless, the club has celebrated record revenues driven by consistent on-pitch success. In late 2023, Manchester City achieved a historic milestone by becoming the first English club to simultaneously hold the Premier League, FA Cup, UEFA Champions League, UEFA Super Cup, and FIFA Club World Cup titles. These accolades have led to substantial increases in commercial and matchday revenue, further bolstering the club’s financial power.
Manchester City’s BSI score has also improved considerably to 92.8/100, earning an AAA+ rating, the highest rating awarded by Brand Finance. According to Brand Finance’s research, the club achieves perfect scores for its ambition, and for playing exciting and entertaining football. Star players such as Erling Haaland and Phil Foden have significantly boosted the club’s on-field effectiveness and marketability, underscoring City's status as one of the world’s most formidable teams.
FC Barcelona has maintained its position as the 3rd most valuable football brand, with a 12% increase in brand value to EUR1.5 billion, despite facing significant financial challenges. Notably a restricted salary cap of EUR204 million, significantly lower than Real Madrid’s at EUR727 million. This cap severely restricts Barcelona's ability to sign and retain top players for the upcoming 2024/25 season, potentially affecting their on-field performance, competitiveness, and appeal to sponsors.
That said, FC Barcelona’s youth academy La Masia has been instrumental in maintaining the club’s stability amid financial challenges. By producing a new generation of players who can compete for trophies, La Masia has reduced the club’s spending on expensive transfers. The emergence of young talents such as Lamine Yamal, Pau Cubarsi, and Fermin Lopez have also bolstered FC Barcelona’s on-pitch performance. This is further evidenced by the club’s perfect score for its star players, according to Brand Finance research.
Manchester United FC has retained its position as the 4th most valuable club brand with a 3% increase in brand value, now standing at EUR1.4 billion. This increase in brand value comes despite ongoing fan discontent regarding the team's poor performance, with disappointing results in both the Premier League and in European competitions. Off the pitch, frustrations have grown over the club’s controversial ownership and prolonged takeover saga, heightening fan uncertainty over the club’s future.
As well as being the 5th most valuable football club brand, Liverpool FC (brand value up 1.5% to EUR1.4 billion) is also the world’s 2nd strongest football club. The club's BSI score has risen to 93.7/100, with an AAA+ rating. The Reds command perfect scores across various metrics, including its passionate fans, rich heritage, and great stadium. Anfield, the iconic home of Liverpool FC, is globally renowned for its rich history, and embodies the tradition that defines Liverpool's football heritage.
The French powerhouse Paris Saint-Germain FC has dropped one position overall to rank in 7th despite a 7% increase in brand value to EUR1.2 billion. Notably, the departure of global superstars Messi, Neymar, and Mbappé is expected to impact the club’s commercial outlook, potentially leading to reduced merchandise sales, decreased sponsorship values, and a possible decline in international fan engagement.
That said, PSG's strong on-field performance continues to drive its global reputation. This is underscored by an increase in the club’s BSI score to 86.2/100, subsequently moving up three positions in the brand strength ranking to eighth. The club maintained its dominance in Ligue 1, clinching their third consecutive league title and 12th overall, along with victories in the Coupe de France and Trophée des Champions. PSG also commands strong perceptions for its passionate fanbase, and for its sponsors.
German football club Bayer 04 Leverkusen has seen the biggest brand value increase of all club brands in the table, up 72% to EUR333.6 million, as well as a significant 9-point increase in its brand strength index score to 70.5/100. The club achieved a historic milestone in 2024 by winning their first ever Bundesliga title, as well as the German Cup. They became the first German team to accomplish an unbeaten season, setting a European record with 51 consecutive unbeaten games. These accomplishments have significantly contributed to the club’s brand image and perceptions, underscored by its strong scores for having passionate fans, being ambitious, and playing exciting and entertaining football.
This article was originally published in the Brand Finance Football 50 2024 report.