Manchester United is the most valuable sporting brand name in Europe, according to research by FutureBrand.
In a league table dominated by football and Formula One, United comes top at pounds 175.7m, way ahead of its nearest challenger, Spanish Primera Liga side Real Madrid, which the survey estimates is worth pounds 105.2m.
German football giant Bayern Munich follows on pounds 101.8m, with Formula One team Ferrari the highest non-footballing brand on pounds 74.6m.
The survey was carried out by FutureBrand to establish the value of brands in a sector that is increasingly dominated by commercial activity. The Interpublic-owned brand consultancy took into account such factors as revenue and profit streams, and the strength of the brand in relation to its competitors.
Shailendra Kumar, FutureBrand head of brand valuation for Europe, said the study demonstrated that branding was no longer confined to traditional consumer goods sectors.
'Any organisation that seeks a relationship with its audience can be considered a brand and therefore needs to manage that relationship,' Kumar said. 'Sports teams are recognising the value of their brands in helping them achieve commercial success in areas outside their core sport.'
Though performance was critical to the value of a sporting brand, Kumar added, longevity of support also contributed, particularly at times when the team was not successful. Ferrari, for example, failed to win a driver's championship between 1979 and 2000, but was still the highest-valued F1 team.
Top ten sporting brands (pounds m)
1 Manchester United 175.7
2 Real Madrid 105.2
3 Bayern Munich 101.8
4 Ferrari F1 74.6
5 McLaren-Mercedes 71.9
6 Juventus 69.2
7= Liverpool 57.7
7= Barcelona 57.7
9 Arsenal 55.6
10 Williams BMW 53.6
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