See the Full List: Real Madrid named Most Valuable European Football Club by KPMG

Santiago Bernabeu. Home ground of Spanish professional football club Real Madrid. The club plays in the Spanish top flight football league (La Liga) and are currently on the second spot of the table with 56 points, two points behind toppers Barcelona who have 58 points. Photo: Getty

The European Elite 2020 report values the club at €3.478 billion.

According to the European Elite 2020 report, produced by consultancy firm KPMG, Real Madrid are the most valuable
football club in Europe for a second successive year.

The report notes that Real Madrid's position at the summit owes to the high revenues figures recorded throughout the five years that the study relates to (2016-2020), after having lifted the Champions League three times during this period, as well as the club's improved profitability and a 41% aggregate growth in commercial revenue.

RANKING	CLUB	VALUE (Billions of Euros)
1.	Real Madrid	3.478
2.	Manchester United	3.342
3.	FC Barcelona	3.193
4.	Bayern Munich	2.878
5.	Liverpool	2.658
6.	Manchester City	2.606
7.	Chelsea	2.218
8.	Tottenham	2.067
9.	Paris Saint-Germain	1.911
10.	Arsenal	1.852
11.	Juventus	1.735
12.	Borussia Dortmund	1.281
13.	Atlético Madrid	1.197
14.	Inter Milan	983
15.	Schalke 04	814