Bayern Munich have overtaken Manchester United as the most valuable football brand following their Champions League victory, according to agency Brand Finance.
The Bundesliga champions' worth has been valued at £570m, while United sit behind the European outfit. Real Madrid and Barcelona are third and fourth respectively.
"The commercial transformation of the English game, which has created hugely successful global brands, had been seen as the model to emulate," ESPN quotes chief executive of Brand Finance David Haigh as saying.
"However the escalation of player wages, poor financial management and alienation of grass roots fans has left many people jaded."
Meanwhile, the Premier League has retained the top spot as most valuable league in terms of brand.
