English football club Manchester United (MU) remained the most expensive brand among the world's most valuable football clubs for a second year in a row, consultancy firm Brand Finance reports.

MU’s brand value now stands at $1.17 billion. The figure, however, dropped by 3% against last year's estimate of over $ 1.2 billion.

The Spanish Real Madrid (about $1,15 billion) is the second most expensive football brand, FC Barcelona ($993 million) comes in third, while Manchester City ($905 million) and Bayern Munich ($867 million) follow in the fourth and fifth spots, respectively.

Also included in the top 10 are Arsenal, Paris Saint-Germain FC, Chelsea, Liverpool and Tottenham.

Borussia Dortmund remained in the 12th spot for the second year.