Real are still most valuable in Europe

LONDON • Real Madrid remain Europe's most valuable football club despite the ever-increasing dominance of the English Premier League, according to a report by analysts Football Benchmark yesterday.

The report ranks Europe's 32 most prominent clubs, calculating their value based on their annual financial statements and assessing squad values.

Real, who face Liverpool in tomorrow's Champions League final, came out on top for the fourth consecutive year of the report, with a valuation of €3.184 billion (S$4.7 billion).

But that is still short of their valuation in 2020, just before the outset of the Covid-19 pandemic, of nearly €3.5 billion, although they remain one of the few clubs to register a net profit in both seasons impacted by the virus.

"Real Madrid have extended their lead at the top due to continuous sporting and commercial success," the report said.

It added Real lost €84 million due to the absence of match-day revenues with supporters shut out due to the pandemic.

However, they "made the most of the restrictions... (by) accelerating works on the (Santiago) Bernabeu.

"It (the club's home stadium) will be ready at the end of 2022 or the beginning of 2023 and will certainly give them a massive revenue boost and potentially a competitive advantage."

Manchester United (€2.9 billion) and Barcelona (€2.8 billion) rounded out the podium, with Bayern Munich fourth and Liverpool in fifth.

Of the 32 most valuable clubs, only four (Ajax, Galatasaray, Porto and Benfica) are from outside the big five European leagues of England, Spain, Germany, Italy and France.

Ten of the top 32 are English, at a time when Premier League sides are dominating in Europe.

"What is pushing English clubs towards increased continental glory is their success on the financial side," the report said. "The Premier League's aggregate operating revenues of €5.1 billion put them comfortably at the top, while what sets them apart are highly remunerative broadcasting agreements."

Paris Saint-Germain boast the highest overall growth in value over the seven years since the first Football Benchmark report, up 153 per cent to now more than €2 billion.

With football showing signs that the downturn caused by Covid-19 is over, the value of Europe's best-known clubs are set to rise further.

"Last year's financial results still bear the negative impacts of Covid-19, while the past several months reflect solid signs of football returning to normal, most notably with crowds back in stadia and continued robust demand from sponsors and investors," the report said.

AGENCE FRANCE-PRESSE