Earlier this year, KPMG released its soccer club valuation report, ‘The European Elite 2020’. Top of the list were Real Madrid at $3,892 million, followed by Manchester United and Barcelona. Bayern Munich and Liverpool followed to complete the top five. Out of the football clubs, Liverpool saw the largest increase in their value. Due to Liverpool’s huge gains in commercial and broadcast revenue on the back of their Champions’ League success.

Unfortunatly, Ronaldo-starred Juventus’ estimated value at the start of 2020 was $1,941 million. Thus, putting them at 11th in KPMG’s rankings of Enterprise Value, meaning that no Serie A team makes the top ten. The Italian giants were replaced in the top ten by Paris Saint-Germain, who moved up from 11th to 9th, increasing their enterprise value by 45% in a single year, and by over 150% in the past 5 years. It’s the first time they have broken into the top ten since 2016.

KPMG wrote that Paris Saint-Germain’s commercial revenues of $422 million in 2019 were the highest of any club, helped by stars like Neymar and Kylian Mbappe, and the club’s partnership with sportswear brand Air Jordan. PSG unveiled that three-year partnership in September 2018, and it already seems to be paying dividends. Their strong commercial revenues gave them the 5th highest operating revenue of any club for the 2018-19 season.

KPMG’s Most Valuable Football Clubs 2020

1. Real Madrid $3,892 mil.

2. Manchester United $3,740 mil.

3. Barcelona $3,573 mil.

4. Bayern Munich $3,220 mil.

5. Liverpool $2,974 mil.

6. Manchester City $2,916 mil.

7. Chelsea $2,482 mil.

8. Tottenham Hotspur $2,313 mil.

9. Paris Saint-Germain $2,138 mil.

10. Arsenal $2,072 mil.