The study analyzed broadcast rights, profitability, sporting potential, popularity and success in European competitions.
United, who placed 6th in the English Premier League wrapped up their season by winning the Europa League. They are valued at €3 billion Euros – making them the first to break the 3 billion threshold.
Real Madrid are second with a value of €2.97 billion with Barcelona third at €2.76 billion.
German champions Bayern Munich (€2.44) and Manchester City (€1.97) close out the top 5.
The rest of the top 10 includes Arsenal €1.95bn, Chelsea (€1.59bn), Liverpool (€1.33bn), Juventus (€1.21bn) and Tottenham (€1.01bn).
Tottenham Hotspur and Italy’s Juventus were the new entrants to this elite group, with Tottenham ousting French club Paris Saint-Germain from 10th position.
Despite Premier League dominance, Spain was the only country with two clubs reporting an “enterprise value” above 2bn euros, namely Real Madrid and Barcelona.