Manchester United are the most valuable football brand in England, but two other European giants are above the Premier League side in the latest worldwide ranking.
Click through the gallery above to see the most valuable football brands, according to Brand Finance.
The Red Devils are one of six Premier League clubs in the top 10, but Real Madrid and FC Barcelona are once again at the top of the list published by Brand Finance.
"Real Madrid remain the most valuable football club brand in the world for 2020, according to the latest edition of the Brand Finance Football Annual," an official statement read.
"Boosted by winning the LaLiga title for the first time since 2017, the club retained its position at the top of the table in the football industry, but against a backdrop of economic and social disruption, caused primarily by the COVID-19 pandemic, Real Madrid's brand value has declined by 14% to €1.419 million."
Real are valued at €1.419 million (R27.5 billion), followed by Barcelona at €1.413 billion (R27.4 billion) and United at €1.314 billion (R25.5 billion).
Overall, though the top 50 football brands have lost €751 million (R14.6 billion), or 3.7%, of their cumulative brand value in 2020 due to the effects of the coronavirus on matchday, broadcasting and commercial income.
"Top-level football has been confronted with the largest existential threat since the Second World War," Richard Haigh, managing director of Brand Finance, said.
"Loss of income, coupled with health concerns about mass gatherings, have raised question marks about the future of the industry and the financial resilience of clubs across all levels.
"The full damage of the COVID-19 crisis has yet to unfold and it is not inconceivable there will be casualties in the form of club bankruptcies and changes in ownership."
You can see the complete top 10, which includes clubs from England, Spain, Germany and France, in the gallery above!
Why do you think some clubs managed to increase their brand value during these testing times? Have your say in the comments section below.