Real Madrid remain Europe's most valuable football club: studies

Real Madrid remain Europe's most valuable football club despite the ever-increasing dominance of the English Premier League, according to two reports by analysts published Thursday.

The Football Benchmark report, which ranks Europe's 32 most prominent clubs on their value based on their annual financial statements and assessing squad values, put Real top with a valuation of 3.184 billion euros ($3.4 billion).

Real, who face Liverpool in Saturday's Champions League final, came out on top for the fourth consecutive year of the report.

That is still short of their valuation in 2020, just before the pandemic, of nearly 3.5 billion euros, although the report points out that they were one of few clubs to register a net profit in both seasons impacted by the pandemic.

In a separate study, Forbes also ranked Real top but with a valuation of $5.1 billion.

"Real Madrid have extended their lead at the top due to continuous sporting and commercial success," said the Football Benchmark report's author, Andrea Sartori.

It said Real lost 84 million euros due to the absence of matchday revenues with supporters shut out due to the pandemic.

However, Real "made the made the most of the restrictions...accelerating works on the Bernabeu. It 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 euros) and Barcelona (2.8 billion euros) rounded out the podium, with Bayern Munich fourth and Liverpool fifth (2.556 billion euros).

Of the 32 most valuable clubs in the Football Benchmark study, only four (Ajax, Galatasaray, Porto and Benfica) are from outwith the big five European leagues of England, Spain, Germany, Italy and