A report by auditors KPMG has found, that Man United valued at €3.004 billion, ahead of both Real and Barcelona valued €2.895bn and €2.688bn, respectively.

The value of the United have jumped from the past season, as KPMG had estimated Madrid and United as being worth €2.9bn at the end of the 2015-16 season.

"While this is partially explained by football's broadcasting boom, the internationalisation of the clubs' commercial operations, their investment into privately-owned and modern facilities, and overall more sustainable management practices, are also key reasons for this growth," said Andrea Sartori, KPMG's global head of sports and the report's author, quoted BBC.

"In terms of media rights value, the English Premier League sits comfortably at the top of European leagues, although other major leagues have outlined well-defined strategies to compete for the attention of global fans," he said.

The auditing company also estimated that United are the first football club to break through the €3bn barrier for enterprise value.