Marketing experts from the London School of Marketing have conducted research for the very first time, outlining who the richest teams on the continent are:
While Real Madrid expectedly sit on top of the chart, Manchester United follow closely behind.
City were taken over by Sheik Mansour back in 2008 and have seen their market value increase by a phenomenal 94 per cent over the past five years.
Tottenham, Newcastle and West Ham have also made the top 20.
Only five clubs in Europe are in the billionaire club, with a huge gulf between Bayern Munich in fifth and Chelsea in sixth.
Further research showed that Manchester United have more global fans across the continent, followed closely by Liverpool, Real Madrid, Chelsea and Barcelona.
The experts insists that the success of these 'hyper clubs' is down to investments, brand partnerships, fan bases and the celebrity value of individual players.
Jacques de Cock from London School of Marketing said: “Name and brand recognition is so important for the greatest clubs and the UK and Spanish teams dominate this market.
“Football clubs offer unique marketing opportunities as they represent five different promotional tangents that can be exploited.
He continued: “Football remains the only real global sport with a passionate and faithful following. The European football clubs travel much better than US sports and the largest clubs have supporters in over 80 countries, making targeted campaigns in various regions a real possibility."
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