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Published 07:51 13 Sept 2022 BST
Updated 15:51 13 Sept 2022 BST
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Barcelona are narrowly behind City with a brand value of €1.3bn and are followed by Liverpool (€1.27bn) whose value increased by 30 per cent over 12 months.
Manchester United, meanwhile, have dropped to fifth - their lowest ever ranking - with a poor season on the field taking its toll. They have previously never been lower than third.
In terms of the most valuable leagues, the Premier League dominates with a total value of €8.6bn for 2022 - more than double that of LaLiga (€4.1bn). The German and Italian top flights follow with €3.1bn and €2.1bn, respectively.
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