The Spanish sports club Real Madrid remained to be most valuable football club brand with €1.42 billion ($1.64 billion) in the world, according to an independent valuation consultancy firm’s report published on Wednesday.

Real Madrid’s value dropped 14% in 2020 versus the last year due to the novel coronavirus pandemic, said Brand Finance’s report, which includes most valuable and strongest brands.

While the English club Manchester United was the most valuable football club brand in 2018, Real Madrid took the first place in the list last year, Brand Finance’s data showed.

In 2020, the second most valuable football club brand was again from Spain — Barcelona (€1.41 billion) — and the third brand was Manchester United ($1.31 billion), which was the second in the previous report.

“Real Madrid is not the only club to see a drop in brand value this year. COVID-19 has caused the total value of the top 50 football brands to decrease for the first time in 6 years,” the report stressed.

“Through its effect on the three main revenue streams – Matchday, Broadcasting, and Commercial – €751 million or 3.7% has been knocked off the cumulative brand value of the world’s top 50 most valuable football clubs,” it added.

Other top 10 brands in the list were Liverpool, Manchester City, Bayern Munich, Paris Saint-Germain, Chelsea, Tottenham Hotspur, and Arsenal.

Brand Finance’s report also showed that Real Madrid and Barcelona were also strongest football club brands while Liverpool was the third brand in this list.

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