Clubes Mais Valiosos Do Mundo

BRANDFINANCE football 50
The annual report on the worlds most valuable FOOTBALL brands | MAY 2013
Fussballs Coming Home

Bayern Becomes Footballs Most Valuable Brand
2 | BRANDFINANCE football 50 | MAY 2013
Contents
Contents
BRANDFINANCE football 50
The BrandFinance Football 50 is published by Brand Finance plc and is the only study to rank the top 50 most valuable Football clubs
Brand Finance plc 3rd Floor, Finland House, 56 Haymarket, London SW1Y 4RN United Kingdom Tel: +44 (0) 207 389 9400 Fax: +44 (0) 207 389 9401 www.brandfinance.com enquiries@brandfinance.com
3 Executive Summary 4-5 The BrandFinance Football 50 final results 6 Our Verdict 7-15 A Deeper Look at the top 10 16-18 What the Clubs Say; Arsenal, Spurs & Juve 19 Glaze of Glory: Manchester United and The Glazers 20 Bundesliga vs Premier League 21 Football Shirt Brands: Cutting a Fine Figure 22 Sponsorship: The Growing Value of Football Sponsorship 23 The Strength of the Brand: A Brief Look at KPIs 24 Methodology: How Were the Rankings Compiled? 25 About Brand Finance & Our Services 26 Contact details 27 Appendix 28-29 USD table 30-31 GBP table 32-33 EUR table
MAY 2013 | BRANDFINANCE Football 50 | 3
Executive summary
Welcome to The BrandFinance Football 50 2013 report highlighting the worlds most valuable Football brands.
FC Bayern Mnchen take the number one spot this year after a tremendous domestic and European season. On pitch success coupled with some of the strongest financials in sport sees their brand grow to $860m. Manchester United FC drop to second place, the departure of Sir Alex Ferguson leaving uncertainty over whether the Red Devils can continue to be successful without him. Their value falls marginally to $837m, but are still only one of two football brands deserving of an AAA+ brand rating, the strongest rating available. Spanish and Italian football again sees tough economic conditions hamper their growth. Despite this both Spanish giants have grown, Real Madrid CF up to $621m just ahead of FC Barcelona at $572m. Juventus FC ($180m) and SSC Napoli ($101m) both continued their return to form at the expense of FC Internazionale Milano who take another dip after a poor season to $151m, while rivals AC Milan see a less dramatic fall in value to $263m. Elsewhere Turkish and Brazilian brands made great strides thanks to their booming emerging economies and passionate domestic fanbases. Galatasaray A are our highest ranking Turkish team valued at $116m, while SC Corinthians Paulista ($103m) take the honour of highest ranking non-European club. Average brand growth across the top 50 is a healthy 7%. Attendances have remained solid, with many top teams filling their stadiums week-in week-out coupled with long season ticket waiting lists. There are now 10 different kit suppliers to the top 50 clubs in this hotly contested and increasingly lucrative marketplace. Adidas lead the pack with 18 supplier contracts while Nike follows with 14 deals. Both however are feeling the pressure of new market entrants Warrior and Under Armour.
BrandFinance Football 50
TOP 50 FOOTBALL BRANDS 1-25
Brand Value Rank 2013 1 Club FC Bayern Mnchen Manchester United FC Real Madrid CF FC Barcelona Chelsea FC Country Germany 2013 USD MILLIONS 860 2012 USD MILLIONS 786 change 9% Brand Rating AAA
England
837
853
-2%
AAA+
Spain
621
600
4%
AAA+
Spain
572
580
-1%
AAA
England
418
398
5%
AA
Arsenal FC
England
410
388
6%
AA+
Liverpool FC Manchester City FC AC Milan Borussia Dortmund
England
361
367
-2%
AA
England
332
302
10%
AA-
Italy
263
292
-10%
AAA-
10
Germany
260
227
15%
AA
11
FC Schalke 04 Tottenham Hotspur FC Juventus FC AFC Ajax FC Internazionale Milano Hamburger SV Galatasaray A Olympique de Marseille SC Corinthians Paulista SSC Napoli Olympique Lyonnais Fenerbahe SK Bayer 04 Leverkusen Paris Saint-Germain FC VfB Stuttgart
Germany
259
266
-3%
AA-
12
England
219
225
-3%
AA
13
Italy
180
160
12%
AAA-
14
Netherlands
162
184
-12%
AA
15
Italy
151
215
-30%
AA+
16
Germany
144
153
-6%
AA
17
New
Turkey
116
NEW
NEW
A+
18
France
111
168
-34%
AA-
19
Brazil
103
77
34%
AA
20
Italy
101
85
20%
AA-
21
France
101
120
-16%
AA-
22
New
Turkey
95
NEW
NEW
A+
23
Germany
90
64
41%
AA-
24
France
85
64
34%
A+
25
Germany
83
71
18%
A+
BrandFinance Football 50
Brand Value Rank 2013 26 Club Valencia CF VfL Wolfsburg AS Roma West Ham United FC Newcastle United FC Aston Villa FC SV Werder Bremen Everton FC Fulham FC Sunderland AFC Beikta JK Club Atltico de Madrid Santos Futebol Clube So Paulo FC Country Spain 2013 USD MILLIONS 83 2012 USD MILLIONS 68 change 22% Brand Rating AA-
27
Germany
82
66
25%
28
Italy
82
85
-3%
AA
29
England
82
70
17%
30
England
81
86
-6%
AA
31
England
80
87
-8%
AA-
32
Germany
79
68
17%
AA-
33
England
78
79
0%
AA-
34
England
75
65
16%
A+
35
England
72
66
10%
A+
36
New
Turkey
71
NEW
NEW
A+
37
Spain
67
50
34%
AA-
38
New
Brazil
65
38
70%
AA
39
Brazil
62
58
6%
A+
40
PSV Eindhoven Stoke City FC SL Benfica Sevilla FC Celtic FC CR Flamengo
Netherlands
61
74
-18%
AA-
41
England
59
55
6%
A+
42
New
Portugal
56
NEW
NEW
A+
43
Spain
56
49
14%
AA+
44
Scotland
55
64
-13%
AA-
45
Brazil
55
46
20%
A+
46
SC Internacional
Brazil
55
51
8%
A+
47
West Bromwich Albion FC FC Girondins de Bordeaux ACF Fiorentina SS Lazio SpA
England
54
NEW
NEW
48
France
53
76
-30%
A+
49
Italy
52
46
15%
AA-
50
Italy
52
46
12%
AA-
Our Verdict
Welcome to the BrandFinance Football 50 2013 report highlighting the worlds most valuable Football brands.
This years edition of the BrandFinance Football 50 sees a new champion, FC Bayern Mnchen take the number one spot after a tremendous domestic and European season. On pitch success coupled with some of the strongest financials in sport sees their brand grow to $860m. Manchester United FC drop to second place, the departure of Sir Alex Ferguson leaving uncertainty over whether the Red Devils can continue their success without him. Their value falls marginally to $837m, but is still only one of two football brands deserving of an AAA+ brand rating, the strongest rating available. Spanish and Italian football again sees tough economic conditions hamper their growth. Despite this both Spanish giants have grown, Real Madrid CF up to $621m. They are just ahead of FC Barcelona at $572m. Juventus FC ($180m) and SSC Napoli ($101m) both continued their return to form at the expense of FC Internazionale Milano who take another dip after a poor season to $151m, while rivals AC Milan see a less dramatic fall in value to $263m. The Milan Contingent is struggling with aging stadia, falling attendances and crowd trouble. Serie A was the only league in Europe to see an average attendance fall for 2012/13 and is desperately in need of a rebrand if it wishes to reignite its global appeal to the levels experienced during the 90s. Elsewhere, Turkish and Brazilian brands made great strides thanks to their booming emerging economies and passionate domestic fanbases. Galatasaray A are our highest ranking Turkish team valued at $116m, while SC Corinthians Paulista ($103m) take the honour of highest ranking nonEuropean club. Average brand growth across the top 50 is a healthy 7% outpacing their domestic economies. This shows that top level sport is largely recession proof with almost all clubs reporting solid revenue increases. Attendances have remained solid, with many top teams filling their stadiums week-in week-out coupled with healthy season ticket waiting lists. Clubs are not resting on their laurels with all working hard to improve the match-day experience via new technology and upgrades. Manchester City FC enjoyed a 10% jump in brand value to $332m despite a disappointingly trophy less season. A failure to build on last seasons success despite the highest wage bill in Europe has seen Italian manager Roberto Mancini shown the door. The clubs recent pioneering announcement to stretch the brand into another market teaming up with the New York Yankees to form a new MLS franchise opens up a new dimension of commercial and fan experiences for the club. Beyond Europe, the top 50 contains 5 Brazilian clubs headed up by Corinthians in 19th place. Whilst revenues in the Brazilian game remains well below European equivalents, the combination of the FIFA World Cup 2014 and 2016 Summer Olympic Games being held in Brazil is driving an influx of investment into the sporting sector and will provide opportunity for the country to shine on a global platform. On the front of the shirts, this year we saw a continued rise in the average price paid by sponsors to be associated with top 50 clubs. Manchester Uniteds deal with Chevrolet set a new record when it announced the $559m 7 year agreement. Emirates continued their deep affiliation with the game and now sponsor 4 of the top 25 teams. Qatar Airlines burst into the sports sponsorship arena and its offer of $38m per year was enough to lure Barcelona to breaks its 103 year tradition of not having a corporate brand on its shirt. This years table sees a more diverse portfolio of sectors taking up shirts sponsors as more companies recognise the branding benefits the beautiful game can bring. Providing the kits to the top 50 now sees 10 separate providers in this hotly contested and increasingly technical marketplace. Adidas lead the pack with 18 supplier contracts while Nike follows with 14. Both however are feeling the pressure of new market entrants Warrior and Under Armour. The two significant US brands in Warrior and Under Armour have fuelled an upward trend in annual payments that suppliers are willing to be aligned with such an irresistible platform. For supplier brands, the awareness that top tier football provides combined with the return on investment available from replica sales makes kit supplying an attractive investment. We have recently seen Arsenal, Manchester City and Lazio leave long-term supplier relationships to enter more lucrative shirt deals. Combined with this competitive landscape is the continued sophistication of the jersey, optimised by the fact that Lyon the City of Light will have a glow in the dark feature on its new third kit. Outside the top 50 we have seen some other interesting branding trends with the most extreme being Cardiff City where we saw the bluebirds go red to expand the clubs appeal in international markets.
The Top 10: Profiles
Worthy winners
Over the next 6 pagesare mini-profiles of the worlds 10 most valuable football brands, starting with this years winner FC Bayern Mnchen.
01
FC Bayern Mnchen
2013 USD 860
2012 USD 786
Germany
Change 9%
Brand rating AAA
2012 rank: 2
02
Manchester United FC
2013 USD 837
2012 USD 853
England
Change -2%
Brand rating AAA+ 2012 rank: 1
03
Real Madrid CF
2013 USD 621
2012 USD 600
Spain
Change 4%
Brand rating AAA+ 2012 rank: 3
04 05
FC Barcelona
2013 USD 572
2012 USD 580
Spain
Change -1%
Brand rating AAA
2012 rank: 4
Chelsea FC
2013 USD 418
2012 USD 398
England
Change 5%
Brand rating AA
2012 rank: 5
06 07
Arsenal FC
2013 USD 410
2012 USD 388
England
Change 6%
Brand rating AA+
2012 rank: 6
Liverpool FC
2013 USD 361
2012 USD 367
England
Change -2%
Brand rating AA
2012 rank: 7
08
Manchester City FC England

2013 USD 332 2012 USD 302
Change 10%
Brand rating AA-
2012 rank: 8
09 10
AC Milan
2013 USD 263
2012 USD 292
Italy
Change -10%
Brand rating AAA-
2012 rank: 9
Borussia Dortmund
2013 USD 260
2012 USD 227
Germany
Change 15%
Brand rating AA
2012 rank: 11
The Top 10: Profiles 01
1 FC Bayern Mnchen
BRAND VALUE
$860m AAA
+9%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$40m $34m
KIT MANUFACTURER
ANNUAL VALUE
This year, Bayern Munich first mastered the Bundesliga. Then, on Saturday 25th, the European title was secured. Now a global title can be added to the list; Bayern has toppled Manchester United to become the Worlds most valuable football club brand. Its $860 value is driven by on-field success backed by off-field stability and scale. With a commercial revenues stream alone in excess of 200m, Bayern Munich really is the games commercial powerhouse. Long standing (and ownership) ties with Audi, Adidas, Deutsche Telecom and Adidas provide contracted and visible revenue streams for the club to invest into one of the Worlds most talented and exciting squads. Alongside its commercial clout, the 2012/13 season has been one of domestic domination. The domestic title was secured as early as April and saw Bayern end with a massive 25 point margin over 2nd place Dortmund. The free-flowing football was further visible on the European stage where the world watched them humiliate arguably the greatest ever football team, Barcelona. Trophies bring inflows to all three revenues streams (match day, media and commercial) and with many of Bayerns commercial deals being performance-linked, we anticipate 2012/13 is likely to have produced a record year of turnover for the club and help add another year of profit to its impressive financial track record. With Bayern being the leading club in Europes largest economy, they have been able to leverage commercial deals to maximise this position. Though German media deals are dwarfed those of some other European clubs, the fact that most German football is televised on free to air channels domestically, helps feed greater commercial appetite for sponsorship deals. It is also worth highlighting the financial stability of the club that sets it out from its European rivals. The club comfortably meets UEFAs financial fair play criteria and will see little discomfort as this is fully rolled out. Its track record of running a profitable operation and the doubling of turnover since 2007 is testament to the quality of the commercial team behind the scenes. Whilst much of its financial prudence is driven by strict Bundesliga guidance, the club is working proof that silverware and profit are not mutually exclusive in the beautiful game. More impressive still is that Bayern top the brand value table whilst charging fans a fraction of Premier League clubs for equivalent matches. Bayerns cheapest season ticket costs 123 whilst at Arsenal, the cheapest is an astronomical 985. The clubs spectacular Allianz Arena is consistently full and it now has over 170,000 members showing the its enduring popularity. As President Uli Hoeness famously said this year, We do not think the fans are like cows, which you milk. Thats the biggest difference between us and England. The next challenge for Bayern to ensure it stays on top of the brand value league is to devise a strategy to drive further revenue growth. To do this, it will need to see if it can transcend its domestic dominance and attract a global audience. With highly rated Josep Pep Guardiola joining the club for the 2013/14 season, it is one of the clearest indicators yet that there has been a step change in outside perceptions of the Bundesliga. It can and in Brand Finances view will, truly challenge the Spanish and English leagues for European dominance.
The Top 10: Profiles 02
2 Manchester United FC
With Sir Alex Ferguson announcing his retirement, Manchester United suffers another blow as the club loses its status as the Worlds most valuable football brand. The Red Devils have delivered another successful year both on and off the field, however the departure of the clubs ultimate brand manager,Sir Alex Ferguson, leaves a question mark as the club enters a new era. Uniteds commercial success has been underpinned by its consistent on-pitch performance, fans and investors alike will be waiting to see if David Moyes can deliver. The club continues to operate a regional and sectoral approach to recruiting commercial partners and throughout 2012-13 has continued to add new partners. To fuel this approach it has opened a commercial office in Hong Kong to be closer to the expanding number of existing and potential commercial partners in the region. It has also mooted that the club is soon to open an office in its owner homeland, the USA, to tap into the Worlds largest economy. The magnitude of the recent Chevrolet deal is testament to the global brand that the club has built particularly under the Glaziers guidance. At over 50m per year, this is more than a five-fold increase on the 9m annual shirt sponsorship deal in place with Vodafone when the Glaziers arrived in 2005. Alongside the traditional front of shirt sponsor, the club has also installed a significant training ground naming rights deal with Aon worth 160m over eight years. The fact the club can demand a greater value on naming its training ground than many can generate from naming rights on its main stadium demonstrates the potency of Uniteds brand. It is also encouraging that the club current shirt sponsor, Aon, is keen to remain involved with the club in another dimension and would suggest a positive Return on investment (ROI) is being generated. Whilst the club has published questionable statistics about its global fanbase (claiming 659m people worldwide support the club), there is no denying that Manchester United has global awareness and stature that many of its peers are vying to replicate. At last count it has no less than 40 commercial partners set around a structured sponsorship matrix based on specific sectors and territories. Whilst many top clubs are condensing their partnerships along the less is more path,United is following a more is more strategy and believe the brand has the strength to be further stretched. Manchester United has always been at the forefront of setting brand trends in the game, from innovative new commercial deals, to its successful TV channel and far flung tours across the globe. The club is once again setting the mark through an impressive social media strategy to connect with its ever expanding global fanbase. The clubs partnership with multiple telecom providers affords it access to followers in over 40 countries and its website, now available in seven languages, receives over 60 million page views per month. Whilst this connectivity is still in its infancy, the challenge for the brand will be how to monetise this channel.
BRAND VALUE
$837m AAA+
-2%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$31m
KIT MANUFACTURER
ANNUAL VALUE
$38m
The Top 10: Profiles 03, 04
3 Real Madrid CF
BRAND VALUE
$621m AAA+
+4%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$30m $39m
KIT MANUFACTURER
ANNUAL VALUE
The departure of the Special One Jose Mourinho caps the end of a disappointing season for Real Madrid, leaving them stuck in third place in the BrandFinance Football 50. Whilst its 2011/12 season generated the largest revenues in the game (513m), the clubs brand value has been dampened by the economic woes of the Spanish economy. The distribution of media rights in La Liga continues to be negotiated individually, although this is set to move to a collective basis shortly, which will squeeze Madrids media income. The club has expressed an interest in increasing the matchday and commercial buckets to help continue its growth. Redevelopment plans are currently being tendered to transform the Bernabu, with club President Florentino Prez stating, I want a stadium that doesnt look like a stadium and is profitable. The drive will be to not only provide an improved match-day experience but create sources of revenue that can be generated every day of the week. Away from the field, the club operates an expanding (and very successful) merchandising operation the club sold over 1.5 million replica shirts last season alone. For the 4th consecutive summer the team will complete a tour of the US, the club is nurturing a strong following in both North and South America. Mourinho tested the Real Madrid blue book during his reign, the club can ill afford another unsuccessful season and the appointment of a new manger could be crucial to maintaining the clubs top three standing, let alone to reclaim the title of Worlds most valuable football brand.
4 FC Barcelona
BRAND VALUE
$572m AAA
-1%
BRAND RATING
ANUAL VALUE
SHIRT SPONSOR
$38m
KIT MANUFACTURER
ANNUAL VALUE
$46m
FC Barcelonas brand value remained stagnant this year as concern grows that Pep Guardiolas trophy filled golden era is drawing to a close. The Catalans will be hoping the signing of the hugely marketable Brazilian superstar Neymar will continue the traditions of Maradona, Cruyff and Messi that made the club a multinational institution. It is a tantalising prospect for anyone to see two of the worlds most exciting talents, Messi and Neymar, playing together in the same team. The Nou Camp, Europes largest football stadium, has a capacity of 98,787, with average attendance figures ranging between 79,000 and 84,000. The star studded Bara squad playing attractive football has allowed these attendance figures to steadily rise and there is no reason this will not continue. Such profitable infrastructure has allowed FC Barcelona to grow revenues by 4.5% this year to almost 494m, cementing its position of 4th in the BrandFinance Football 50. Although Bara won La Liga this season, that victory was overshadowed by a failure to reach the Champions League or Copa Del Rey final. The club missed out on the rewards of additional trophies this season and so the players and coaching staff forfeited bonuses of 12m. Under the financial stewardship of Javier Faus and Sandro Rosell, FC Barcelona have been able to embark on a successful strategy of cutting costs and securing long term partners such as Audi, Coca Cola and Movistar in addition to kit and shirt sponsorship from Nike and the Qatar Foundation. Impressively they have managed this without compromising their football on the pitch. All these elements combined resulted in FC Barcelona producing an historic 48m profit.
5 Chelsea FC
Chelsea has enjoyed a 5% jump in brand value following Champions League and, more recently, Europa League success, which boosted all three revenue streams. High staff turnover has continued however, with the manager count during the Abramovich reign now in double digits. This continued managerial merry-go-round along with its limited stadia capacity is weighing on the Chelseas ability to challenge the Brand Finance Football 50s Big Four. Whilst the club has lacked consistency on the pitch, it has enjoyed great stability with its long standing commercial partners Adidas and Samsung. Alongside these global brands it has added Delta, Gazprom Audi and more recently Singha Beer, demonstrating the increasingly global appeal of the Chelsea brand. The club also has in place an innovative branding partnership with F1 team Sauber, focusing on ways to enhance sporting and business performance. This includes the exchange of knowledge in sport science, launching joint commercial initiatives, merchandising, events, marketing and linked sponsorship opportunities. We expect to see more collaborations of this manner throughout football as different sports recognise the synergies and commonalities that exist.
BRAND VALUE
$418m AA
+5%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$21m
KIT MANUFACTURER
ANNUAL VALUE
$15m
6 Arsenal FC
Whilst Arsenal endured another trophy-less year, off the pitch its fortunes have been more impressive. The club has been criticised in recent years for its poor commercial revenues relative to its peers. However, earlier this month it announced a record breaking kit deal with Puma. Reported to be worth 30m a year, the deal was enough to see the Gunners end a 20 year alliance with Nike. In addition, significantly increased extension of shirt sponsorship and naming rights has been agreed with Emirates Airlines through to 2019. The club now needs to feed its increased revenues into on pitch talent to end its eight year trophy drought. The Emirates Stadium continues to sell out and be one of the highest yielding stadia in the world; once again the stadium will host a number of events during the summer football break that will bring in ancillary revenues and act as a touch-point for the brand to new consumers. Arsenal is unique in that match-day revenues continue to be its largest income stream. Speculation is still rife about a potential takeover approach for the club, either from one of its current wealthy shareholders or an external consortium. With its listed shares at an all-time high, valuing the club at just over 1bn, it would take a brave investor to see where they could eke out a return.
BRAND VALUE
$410m AA+
+6%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$8m
KIT MANUFACTURER
ANNUAL VALUE
$20m
7 Liverpool FC
BRAND VALUE
$361m AA
-2%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$31m
KIT MANUFACTURER
ANNUAL VALUE
$38m
Despite a very slight brand value fall after another disappointing year on the field, Liverpool is backed by an increasingly solid commercial team and experienced US owners. With a brand new shirt supplier, the 2012-13 season saw the first evidence of the clubs impressive deal with new market entrant Warrior. This deal saw Liverpool move away from a 22 year relationship with Adidas and take a gamble on Warriors first foray into the ultra competitive football apparel market and away from its lacrosse and hockey roots. However, whilst the deal alone represents a 100% increase in value, it also opens the club up to greater branded merchandise opportunities previously contracted out in the Adidas deal. Liverpools tremendous heritage has not gone unnoticed by kit supplier Warrior. Drawing inspiration from Liverpools 1964/65 kit they have reintroduced the iconic yellow Liver Bird emblem last seen on the shirt in 1985 during the clubs golden era. Football clubs tend to move slowly when it comes to visual identity changes and it speaks positively of Liverpool and Warriors relationship that they recognise the opportunity and have the conviction to make such a change. Despite the shrewd business and marketing minds now steering the club, Liverpool must return to the European stage to drive all three revenues streams, and equally push on with the development of Anfield to tap into the great match-day yields available from such a rich heritage and loyal fans.
8 Manchester City FC
BRAND VALUE
$332m AA-
+10%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$31m
KIT MANUFACTURER
ANNUAL VALUE
$40m
Winning no major trophies, losing in the final of the FA cup to underdogs Wigan and a disappointing Champions League outing led to the sacking of Roberto Mancini. The fact it happened on the anniversary of winning the Premier League title shows the strong desire of the Abu Dhabi based owners. With one of the largest wage bills in Europe the club needs on pitch success to drive all three revenue streams to make a sustainable business operation this will soon become compulsory as Financial Fair Play kicks in. Whilst match-day and media revenues are largely dictated by on-field activities, City has been frantically trying to catch up with its neighbours to boost commercial income, recently opening a commercial office in the centre of London, akin to their red rivals. Long term, lucrative deals are currently in place with Etihad for naming rights and shirt sponsorship, as well as a new kit supplier partnership with Nike worth 12m per year being rolled out for the 2013/14 season. Outside these traditional sponsorship avenues, the club has taken the pioneering move in acquiring the rights to Major League Soccers 20th expansion franchise from 2015 in a partnership with baseball team the New York Yankees. Whilst the deal has only just been announced and full details of NYCFC are yet to emerge, it shows the commitment of the club to take the brand global and compete with their neighbours both on and off the pitch.
9 AC Milan
AC Milan has suffered a bigger drop in brand value than any other in the top 10. The club had a relatively disappointing domestic and European campaign this season. Similar to many of its Italian peers, the club is constrained by its aging San Siro home with its match-day revenues making up less than 15% of its 257m turnover. In 2010, the club bravely introduced a disciplined, tiered sponsorship structure, which saw it reduce its commercial partners in a drive to provide greater visibility, exclusivity and value for a more select number of sponsors. The strategy appears to be working as the club has seen commercial revenues grow significantly since implementing the less is more approach. However, for the club to climb the ranks, it needs to invest in its fixed assets to improve its match-day offering. Unfortunately this may prove challenging as the club does not own its own stadium, instead the Stadio Giuseppe Meazza is owned by the City of Milan. Co-tenants FC Internazionale Milano seem to be the most proactive in this area, taking a leaf out of Juventus book. They have reportedly already found a location for a new 60,000-seat Stadium.
BRAND VALUE
$263m AAA-
-10%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$16m
KIT MANUFACTURER
ANNUAL VALUE
$13m
10 Borussia Dortmund
Domestic success in 2011/12 and this seasons Champions League final spot helped Dortmund enter the top 10 of the BrandFinance Football 50 for the first time. The clubs long-term marketing agreement with Sportfive provides the platform for strong commercial performance, which includes recently extended deals with shirt sponsor Evonik Industries and stadium naming rights holder Signal Iduna. The club brand is still very much contained to domestic appeal, however it consistently fills it 79,000 seat stadium and the club broke a European record for season tickets for the third year in a row, with more than 54,000 sold for the 2012/3 season. Whilst very much a domestically focused brand, the club has completed a black and yellow miracle in its turnaround of fortunes that has seen the club go from the verge of bankruptcy in 2005 to the Champions League final. The Dortmund identity is based on intensity and is reflected in how they play, the challenge is now for the club to try and spread this intensively to a global audience. Highly rated manager Jrgen Klopp will be key to maintaining this brand of football, but with more and more clubs seemingly afflicted by the increasingly unpredictable reshuffling of football management, the Dortmund club may struggle to hold onto what could be a very successful brand manager.
BRAND VALUE
$260m AA
+15%
BRAND RATING
ANNUAL VALUE
SHIRT SPONSOR
$20m
KIT MANUFACTURER
ANNUAL VALUE
$8m
Top 10 historical overview 2013

The diagram below charts the rise, fall and rise of the worlds 10 most valuable football brands over the past seven years. Bayern Munichs rapid rise and the emergence of Dortmund shows the growing significance of the Bundesliga.
1000
FC Bayern Mnchen Manchester United FC Real Madrid CF FC Barcelona Chelsea FC
800
Arsenal FC Liverpool FC Manchester City FC AC Milan Borussia Dortmund
600
Brand value ($m)
400
200
2007
2008
2009
2010
2011
2012
2013
AC Milan win Champions League
AC Milan finish 5th in Serie A, Manchester City purchased by Abu Dhabi United Group
Manchester United win the Champions League
Christiano Ronaldo finishes first season at Real Madrid following 80m transfer from United
The Euro crisis begins to take its toll on Spanish and Italian clubs
Manchester City win the Premier League
Sir Alex Ferguson retires, Bayern Munich win the Champions League
Winners and losers

Bayern Munich has clinched the title of 2013s most valuable football brand with this years biggest gain in brand value ($68 million). Inter Milan, Bordeaux and Olympique Marseilles have fared the worst, all recording brand value falls of over 30%.
BRAND VALUE CHANGE (%)

Santos Futebol Clube Bayer 04 Leverkusen SC Corinthians Paulista Paris Saint-Germain FC Club Atltico de Madrid VfL Wolfsburg Valencia CF CR Flamengo SSC Napoli VfB Stuttgart -6% -8% -10% -12% -13% -16% -18% -30% -30% -34%
-50 -25
BRAND VALUE CHANGE (USDm)

70% 41% 34% 34% 34% 25% 22% 20% 20% 18% FC Bayern Mnchen Real Madrid CF Borussia Dortmund Manchester City FC Arsenal FC Chelsea FC SC Corinthians Paulista Bayer 04 Leverkusen Santos Futebol Clube Juventus FC -2 -3 -4 -7 Olympique Lyonnais -9 AFC Ajax -10 AC Milan -12 FC Girondins de Bordeaux -13 Olympique de Marseille -34 FC Internazionale Milano -37
75 100 -50 -25 0 25 50 Change in brand value () 75 100
68 29 27 27 24 23 19 19 18 17 Hamburger SV Aston Villa FC Celtic FC PSV Eindhoven
Hamburger SV Aston Villa FC AC Milan AFC Ajax Celtic FC Olympique Lyonnais PSV Eindhoven FC Internazionale Milano FC Girondins de Bordeaux Olympique de Marseille
0 25 50 Change in brand value ()
What the clubs say
Arsenal
Do you have documented set of brand guidelines/values?
Arsenal Football Club is synonymous with history, tradition and success. We believe that the Club exists to make our fans proud wherever they are in the world and however they choose to follow us. Everyone that works for the Club understands that we will fulfil our goal of making fans proud by being together, always moving forward and doing things The Arsenal Way. This final element is a key ingredient of who we are. Its about thinking about others, getting the detail right and going above and beyond expectations.
How much impact can off-pitch activities (charitable efforts, advertising & marketing, tours etc) have when compared to the effect of on-pitch success?
What do you view as key territories for further brand growth?
In our opinion, the two need to work in tandem to drive real fan engagement and brand value. We know that supporter pride is driven primarily by success on the pitch and this means winning trophies. At Arsenal, we are also proud that are our style of play, our focus on developing youth talent, our magnificent stadium, our broader contribution in the community and our self-financing approach helps us to stand out amongst the crowd and provide additional sources of pride and recognition.
As a genuine global Club with millions of fans all over the world, we have a major focus in a number of different overseas territories, with our most notable growth currently across Africa and Asia.
Players are obviously key to your image, how do you manage the risks that they may personally damage the clubs brand?
How do you balance the dual role of fans as both customers from whom you must make money and supporters/brand ambassadors?
We know that as a Club we have an avid following all over the world and while the vast majority will never make it to an actual Premier League game, our challenge is to engage with their passion for Arsenal and make all supporters feel a part of the Club wherever they are. The primary objective is to have as many supporters as possible regularly engaging with the Club across a number of different platforms, whether thats directly through fan events and activities tied in to our Tour, or through digital media. Once you have established a conversation with those fans and understand their interests in more detail (something we are developing extensively through investment in our Customer Relationship Management (CRM) system), it is easier for the Club to interact on an individual basis and develop potential commercial revenue streams.
The players are undoubtedly the Clubs primary asset and we work hard to ensure that they, like the rest of the Clubs staff, adhere to our vision and values both on and off the pitch. The growth in digital and social media means that many players now interact directly with supporters, and while this presents its challenges, we are able, through consistent engagement and comprehensive media training, to provide the players with clear parameters whilst using their individual appeal and profile to enhance and support the Clubs own initiatives.
A Club Spokesperson
What the clubs say
Juventus FC
How many people do you have working in your marketing/ brand team? Do you have more than one office?
We have no specific marketing team but rather a commercial team covering a range of areas from merchandise to marketing the stadium and the brand made up of 9 people. At Juventus we do all our marketing activities in house, unlike most other Italian clubs, we feel this gives us greater control and a better connection with our fans.
Do you have a unified return on investment (ROI) metric that you use with all commercial partners/sponsors?
10 years ago sponsors and partners were primarily concerned with buying visibility. Today sponsors are more concerned with gaining access to content and fans.
The 1st priority is that the team wins. We work to develop a close relationship with the fans and hope that continued on the pitch success will deliver financial rewards in the future.
Do you benchmark/record your brand value in any way?
No, we feel it would be too subjective to do it ourselves we rely on information from Brand Finance and the market.
Do you have a documented set of brand guidelines/values?
In 2006/07 we changed the logo, we are continually trying to adapt the brand to keep it modern. In terms of intellectual property it is Nike who is reliant on us to protect the IP through our Guardian of the brand.
Players are obviously key to your image, how do you manage the risks that they may personally damage the clubs brand?
There was a Juventus before them and there will be a Juventus after them, the club is more important than any one player.
What impact has the new stadium had on your brand?
The focus has always been Italy however we can now look to engage new markets in new ways. In the future we will be looking to local partners in Japan, China, India, Australia, Indonesia and USA. This summer we will be competing in the Guinness International Champions Cup in the USA along with Milan and Inter. This allows us to promote the Serie A league together as opposed to one club going to China one club going to Australia and the message being lost. We work with Serie A to improve the image of the league overall. In my opinion the Italian league remains an entertaining league due to the number of top sides that compete. The German Bundesliga and the Spanish La Liga are dominated by two teams whereas in Serie A you have Juventus, Inter, Milan, Roma, Lazio and Napoli who all compete for top honours.
The process of moving to a new stadium took 16 years. We are already beginning to see increased participation and engagement of the fans.
Francesco Calvo, Commercial Director
What the clubs say
Tottenham Hotspur FC
How many people do you have working in your marketing/ brand team? Do you have more than one office
There are eight members of the marketing team including two digital specialists. The team are all based at the stadium.
Do you benchmark / record your brand value in any way?
Yes. Our main bench marks are based around tangible indicators of brand value i.e. growth in commercial revenues, merchandising and licensing, fan base development global TV audiences for our matches, estimated size of our fan base in key territories, volumes of engaged fans across all our channels globally and level of reach and increase in transacting supporters.
Do you have documented set of brand guidelines/values?
Yes. The Club has a comprehensive set of guidelines that set out our brand proposition, values and tone of voice and outlines a clear narrative of what our brand stands for. Our brands visual identity has comprehensive guidelines around the use of our badge as well as how we achieve a cohesive brand look and feel across every Club touch point. This is combined with a clear brand protection strategy that ensures our marks and IP are protected and where any potential infringements are carefully monitored.
Our aim is to bring all our fans closer to the Club - provide a sense of belonging and make them feel part of the Club. First and foremost it is about creating ways for fans to engage and interact with the Club whatever their desired level of involvement and ultimately aim to nurture a one-to-one relationship with each and every Spurs fan. The growth in social media and digital channels allow us to extend our reach and open up new opportunities to attract new fans and inspire advocacy from existing fans. If we achieve this, the ability to monetise support is a seamless outcome of engagement whether its direct transactions or value for our partners or broadcasters.
How much impact can off-pitch activities have when compared to the effect of on-pitch success?
Our primary focus outside the domestic market is the USA and Asia. We have seen significant growth in the USA following our 2012 Tour. Our supporters Club network has grown by around 40% in the last season.
Do you have a unified return on investment (ROI) metric that you use with all commercial partners/sponsors?
What we do off the pitch is also important in determining our brand values and gaining new supporters and both on and off pitch activities are mutually supportive. By way of example, we are at the forefront of charitable efforts and CSR through our Tottenham Hotspur Foundation, which is dedicated to utilising the power of football to engage young people and create life changing opportunities. The Foundation runs a vast number of programmes which are fully supported by the players and coaching staff, who attend events on a weekly basis. This has earned the Club a reputation for being responsible, caring and inspiring. Our global coaching programmes also take the Tottenham style of play to grass roots football at schools and colleges. Everything we do is guided by our core principles.
Yes in that we commission independent analysis from trusted industry sources in order to put a valuation on both the tangible and intangible elements of a partners package of rights. We use current market media and branding valuation data and measures to put values on each element of the partnership e.g. media, hospitality and ticketing, event and facility usage, corporate real estate, merchandise etc. In addition we use accepted industry methodologies to quantify the brand value to a partner through brand awareness and benefit of association impact, brand stand out and rarity value, promotional rights and money cant opportunities.
Players are obviously key to your image, how to you manage the risks that they may personally damage the clubs brand?
The players have a duty to represent the Club in the best way at all times and all are made aware of this responsibility. We constantly liaise with the players regarding new trends and the best ways to communicate.
Emma Taylor, Head of Marketing
Manchester United and The Glazers
Glaze of Glory?
Love them or loathe them its hard to dispute the impressive numbers generated under the Glazers guidance at Old Trafford. Since taking over the club. in 2005 the Club has seen revenues double bouyed primalry by the every increasing number and value of commercial deals. Following a succesful IPO in New York in 2012 the clubs shares are currently trading at an all-time high valuing the business at almost 2bn 2005 Market Cap Brand Value Brand Rating Annual Revenue $1,398M $293M AA $294M 2013 $2,888M $837M AAA+ $486M
Since acquiring Manchester United in May 2005 the Glazers have set about extracting the unrealised commercial potential they saw within the club, relative to their US sporting experience. In an 8 year period, the club has seen overall revenues almost double with the commercial stream providing the main impetus. Driving this commercial gain is the fact that the club truly recognise the brand asset that they own and have set about a clear strategy to invest and get exponential returns on this investment. The club had devised a clear territorial and sector approach to commercial partners, which sees it with commercial relationships with over 40 partners serving many territories. Whilst this strategy could dilute weaker brands, Manchester United is confident they have the global awareness and brand strength to pursue such a strategy. Credit needs to go the commercial team behind the brand, who are consistently inventing new partnership opportunities, the club recently took the bold move to back out of a revolutionary training kit deal with DHL as they felt they could command a greater return on the opportunity. The brand and its strategy featured heavily in last years IPO prospectus and the club is very pro-active in seeking out new partners. It has recently setup a commercial office in Hong Kong to service its Asian partners and has been open about its desires to setup a similar office in America. The Glazers remain close lipped about their exit strategy, but with shares currently trading at an all time high valuing the club at close to $3bn, the figures demonstrate what a great job the Glazers have overseen.
Revenue split
$150(m) $159(m) $122(m) $86(m) $86(m) $178(m)
Matchday Shirt sponsor
Media
Commercial
(deal signed 2013, shirt sponsor from 2014)
Annual shirt sponsor value Kit supplier Commercial Partners Domestic Titles European Cup / CL Ground capacity
S16m
$68m
10 15 2 67,540
40+ 20 3 75,811
Sources: Company accounts, press reports, Brand Finance league table, bloomberg
Football leagues
Bundesliga vs Premier League

Football is a business and with UEFAs Financial Fair Play looking to curb the advantages given to clubs treated as billionaire playthings the profit generating potential of clubs is only set to become more important. Commercial success allows clubs to sustainably create on-pitch success through the acquisition of better players, hiring of better staff and capital expenditure on better training facilities. In turn, onpitch success helps drive commercial success by attracting better sponsors, selling more merchande and enabling higher ticket prices. A club that is both successful as a business and as a sporting endeavour is a force to be reckoned with and the Bundesliga may have found the perfect balance. 14 of the Bundlesligas clubs made a profit in 2012, with an overall profit for the Bundesliga of 55m, the EPL made a staggering 245m loss over the same period despite the EPL generating 2.8bn of revenue compared to the German clubs 2.1bn. The Bundesliga has managed this profit through strict cost control; only 38% of total income goes to players and coaches whereas in the EPL the figure is far greater at 64%. Ticket prices in the Bundesliga are low with the cheapest average ticket at about 12, EPL average ticket prices are three times higher. The low ticket prices are a matter of policy for German football and kept purposely low, unlike in the EPL where free market supply and demand sets prices high. These low ticket prices coupled with large modern stadiums has allowed the German top division to attract the biggest average attendances in the world, averaging 45,000 spectators per match compared to the second place EPL with 34,000. But despite the record attendances the low prices are limiting match-day revenues, this has forced the German clubs to concentrate on leveraging their brand elsewhere; the commercial space. German clubs historically have formed close relationships with local businesses and as the German economy has grown these businesses have become huge global corporations better able to support their sponsored team. Bayern Mnchen has the highest reported commercial revenues of any club in the world. Broadcasting is the only area the Bundesliga lacks in comparison to their English counterparts and unlike cheap tickets this is not by choice. The EPL derives a third of its views from Asia and a quarter from Africa and the Middle East allowing the league to distribute over 1.3bn in broadcasting revenue to its clubs. By comparison the Bundesliga only generated 519m. If trends continue German club football will become better recognised on the global stage, the all-German UCL final as well as big-name foreign coach Pep Guardiola entering the league are early indicators of the step change in global perceptions to come. With this recognition comes an opportunity to patch up poor broadcasting deals with foreign markets. Not until this is fixed and incorporated into the financially responsible model of German football will the Bundesliga truly be able to challenge the EPL on a level playing field.
Bundesliga Formed Clubs Average ticket price 2011/12 (in USD) Total Revenue FY2011 Estimated club average revenue FY2011 ($m) Rank in Europe Average spend on wages as % of revenue Club Revenue Compound Annual Growth Rate 2006-10 GDP Compound Annual Growth Rate over same period Total Transfer Value of League ($m) Average squad value ($m) Foreign player % Average age Champions League Titles UEFA Country coefficients 2012/13 Rank in Europe Average Attendance (2011/12) Total Attendance (2011/12) Largest Attendance (2011/12) Rank in Europe 1963 18 29.81 3,349 186 4 52% 8.3% 0.6% 2,468 137 49% 24.80 12 79.328 3 45,116 13,805,462 80,521 1
English Premier League 1992 20 43.15 6,022 301 1 68% 13.1% -0.3% 4,388 219 65% 27.00 7 82.677 2 34,600 13,148,133 75,387 2
Football shirt brands
Cutting a Fine Figure 300m to be precise

Number of Partnerships with clubs in the BrandFinance Football 50
18 15
we are not the sort of brand to keep our head down, we are here to shake up the world of football
Richard Wright, Warrior
Kit Supplier
Away from the club brands, an equally exciting branding battle is taking place between the kit suppliers. This years BrandFinance Football 50 sees an unprecedented 10 different apparel providers dressing the Worlds top teams. Adidas leads the pack, supplying kit to 18 of the top 50 clubs, including this years winners, Bayern Munich. The Germans are hotly pursued by Nike, which hold contracts with 14 of the top 50 teams. The long-term dominance of Nike and Adidas however is being threatened by a raft of smaller brands vying to gain market share. Warrior sports entered the market in 2012 with a deal to supply Liverpools kits over a 6 year period. Warrior, owned by New Balance, is better known in the US market for providing lacrosse and hockey apparel. Liverpool brokered the deal over a 12 month period, speaking with all the major kits suppliers before settling on the value and exclusivity that the Warrior deal would provide. Richard Wright, Warriors head of football, said we are not the sort of brand to keep our head down, we are here to shake up the world of football. They were certainly not afraid to spend to achieve it; the deal was worth a reported 300m, a record braking sum. Under Armour is another US brand just beginning to capture UK market share, using its deal with Tottenham Hotspur as a market entry tool to tap into the football market and continue its rapid revenue rise. The company is particularly well known for its pioneering research and technological innovations and is at the forefront of the current trend for football shirts to be treated on a par with boots as serious pieces of technical apparel. The average retail price of a team shirt across the top 50 is now over US$75. Puma, which has tended to focus on lower tier teams, has re-entered the top 10, announcing that it will supply kits to Arsenal. The five-year, 170million deal ends the Gunners 20 year alliance with Nike. Puma owner PPR is currently in the process of completing a drastic reorganisation of the company to reverse its financial woes and has recently exited Rugby kit sponsorship citing the greater opportunities offered by football. We do not expect too many further entrants into this busy marketplace, however we do expect to see clubs leverage the competitive landscape in new kit supplier negotiations and anticipate that longer and even more valuable deals will be struck by the games biggest brands.
Sponsorship
The Growing Value of Football Sponsorship

Sponsorship is a huge investment opportunity for corporate brands seeking to expand their global reach and raise awareness amongst new customers in new markets. In world football the value of these sponsorships has grown dramatically in recent years with some of the top clubs now generating more than $70m per year from shirt & kit sponsorship alone. This should not be surprising with shirts worn by individual players and loyal fans televised to a global audience of 4.7 billion, shirts are prime real estate for sponsors. The 2014/15 English Premier League (EPL) season will see Manchester United begin a $79 million per year shirt sponsorship deal with Chevrolet, making it the largest deal of its kind. Bayern Munich, UEFA Champions League finalists two years running, generates $37million per year from a deal with Deutsche Telekom. In recent years even Catalonian giants Barcelona have chosen to emblazon their traditionally plain shirt with a lucrative sponsorship deal. The Qatar Foundation is reportedly paying 30 million a year to be the clubs first ever kit sponsor in its 113 year history. The top 10 most valuable brands in this years report generate an impressive $266m from their shirt sponsorship alone, not taking into account the raft of secondary deals and kit partnerships. Corporate brands seeking a platform for building, strengthening and maintaining their brand image see football brands as the ideal vehicle. Brands seeking to develop in new markets will look to clubs with the strength to raise awareness. Manchester United are gold standard in this regard, their new deal with Chevrolet signals the car manufactures desire to drive its appeal up in the European market by using the well developed United brand as a vehicle. Conversely, United itself is attempting to grow their brand in the US with the Glazers pioneering large tour events across the Atlantic. Clearly sponsors must also fit with their target audience and brands must have synergy with viewers and supporters alike. A look at the top sponsorship deals in world football shows huge investment from brands which believe they share the same ideals that make a football club successful: the pursuit of perfection, hard work & passion. Aspirational brands such as cars and airlines as well as some of the worlds most valuable banking and telecoms brands can be found on the shirts of the most successful clubs. Away from the top global brands, betting has continued to be a major sponsor of football. The synergy between these areas is clear with TV, mobile, online and pitch side advertising invested in heavily by betting businesses such as Bet 365, Bet Fred and 32 Red amongst others. Shirt sponsorship by betting brands in the Football 50 is now worth US$47 million per annum. It is no coincidence that the majority of adverts at half time are betting adverts. Sponsorship in football is not without its risks however with on-pitch success by no means a guarantee. Corporate sponsors can risk aligning their brand with a sinking ship or paying tens of millions of dollars only to have their sponsored club miss out on vital UEFA Champions League qualification and the awareness that comes with global television broadcasting. Sponsors must not forget that through their partnerships with the club as an entity they are also associating themselves with the individual stars. Footballers as individuals are notoriously difficult to control at the best of times, for example Luis Suarez provides a difficult dilemma for Liverpools head sponsor Standard Chartered. The Uruguayans silky skills are vital to the success of the Merseyside club on the pitch which can in turn become off pitch brand success, but his consistent negative antics are no doubt straining heavily on Standard Chartereds own brand ideals. Unexpected success is the flip-side of this with the potential to reap rewards for sponsors well beyond a relatively modest sponsorship deal as in the case of Swansea City. Sponsors 32 RED will no doubt have been extremely happy with the clubs promotion from the Championship, the securing of a 9th place finish in this years EPL as well as a first major trophy, lifting the Capital One Cup in February this year. The reverse of this has been experienced by Wolverhampton Wanderers sponsor Sporting Bet following the clubs relegation in consecutive seasons. This uncertainty is however reflected in the size of deal a club can command, those that can guarantee European football consistently will attract the best sponsors for the best money. Sponsorship revenues are a key component of any clubs income and these sponsorships are often driven by on-pitch success. The problem faced by many clubs is that in order become successful on the pitch they must first attract the big sponsors to fund the best players and staff. Many clubs have found this leap difficult, leaving an imbalance in football where the smaller clubs cannot challenge the big boys on or off the pitch. The increasing emphasis on running clubs as a viable business creates an opportunity for traditionally smaller clubs who, with shrewd commercial teams, will be able to break this cycle through innovation and value for money.
Brand strength
The Strength of the Brand

These are calculated using Brand Finances Brand Strength Index analysis, which benchmarks the strength, risk and future potential of a brand relative to its competitors on a scale ranging from AAA+ to D. It is conceptually similar to a credit rating. The data used to calculate the ratings comes from various sources including Bloomberg, annual reports, websites such as transfermrkt.co.uk and Brand Finance original research.
strap
Key Performance Indicators Club 2013 Brand USD Rating Founded League CL Titles Titles 860 837 621 572 418 410 361 332 263 260 259 219 180 162 151 144 116 111 103 101 AAA AAA+ AAA+ AAA AA AA+ AA AAAAAAA AAAA AAAAA AA+ AA A+ AAAA AA1900 1878 1902 1899 1905 1886 1858 1880 1899 1909 1904 1882 1897 1900 1908 1887 1905 1899 1910 1926 23 20 31 22 4 13 18 2 18 8 7 2 29 31 18 6 19 9 5 2 4 3 9 4 1 0 5 0 7 1 0 0 2 4 3 1 0 1 1 0 Squad UEFA 5y Value Stadium coefficient USD 145 131 137 158 136 114 79 71 94 62 85 70 71 65 106 56 54 79 0 47 578 562 798 806 517 380 327 578 281 342 220 357 433 123 274 141 190 147 94 289 Allianz-Arena Old Trafford Santiago Bernabu Camp Nou Stamford Bridge Emirates Stadium Anfield Road Etihad Stadium Giuseppe Meazza Signal Iduna Park Veltins-Arena White Hart Lane Juventus Stadium Amsterdam ArenA Giuseppe Meazza Imtech Arena Trk Telekom Arena Stade Vlodrome Size 69,901 75,957 80,354 99,354 41,841 60,355 45,522 47,726 80,065 81,264 61,482 36,257 41,000 52,960 80,065 57,274 52,695 60,031 Utilsation 99% 99% 91% 80% 99% 99% 93% 97% 58% 97% 100% 99% 93% 89% 75% 95% 64% 85% 63% 76% Manager (12/13 season) Jupp Heynckes Sir Alex Ferguson Jos Mourinho Tito Vilanova Rafael Bentez Arsne Wenger Brendan Rodgers Roberto Mancini Massimiliano Allegri Jrgen Klopp Jens Keller Andr Villas-Boas Antonio Conte Frank de Boer Managerial Assessment Very Strong Manager Career Win % 52%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Extremely Strong 63% Extremely Strong 67% Good Strong 70% 54%
Extremely Strong 56% Satisfactory 42%
Extremely Strong 55% Good Strong Satisfactory Good Good Strong 49% 48% 56% 59% 50% 63% 52% 55% 48% 41% 48% 41%
Andrea Stramaccioni Satisfactory Thorsten Fink Fatih Terim Elie Baup Tite Walter Mazzarri Good Strong Satisfactory Good Satisfactory
Estdio do Pacaembu 40,199 San Paolo 60,240
Below is a sample of the Key Performance Indicators we look at when accessing the strength of a football brand. Heritage History is something you cannot buy. The oldest clubs tend to have the most successful histories and a loyal fan base stretching back generations that will stick with the club through thick and thin. Trophies Ultimately history only remembers winners, the runner-up is rarely given a shout. Fans and sponsors alike want to be
associated with these winners. Every fan, player, manager and owner talks in terms of trophies, they are the raison detre for any club. Star players Star players win matches and sell merchandise they can be the key component of strengthening the brand. A club can have the heritage, the staff and the stadium, but if they dont have the fundamental product the players to win and be successful on-pitch then it is all for naught.
Stadia A vital revenue generator and brand touch point, stadia are where the clubs product is showcased. Creating an enjoyable experience for fans is a must to make them part with their hard earned money as well as being large enough to fit all their fans in, easily accessible and well maintained. Manager The single most important person at any club and the single hardest job. Without their successful stewardship no club can rise to the top of our rankings.
Methodology
How were the rankings compiled?

The Brand Finance Index of The Brand Finance Football Brands 2013 was compiled using, where available, publicly available information regarding market share, market growth and company financials. Our main sources of publicly available data were the Deloitte Football Money League Report, Bloomberg, individual football club Annual Reports and press releases. Brand value was derived using a relief from royalty method that values brands according to the cost of re-licensing them from a hypothetical third party. What is a brand value? How does the Royalty Relief approach work? Brand Ratings:
We define the brand as the trademark and associated intellectual property. Football clubs are made up of a mixture of fixed tangible assets (stadium, training ground) and disclosed intangible assets (purchased players) with brand value, internally developed players & goodwill making up the difference to provide the combined clubs value.
Determine forecast revenues referencing historic trends market growth estimates, competitive forces, analyst projections and company forecasts. 1. Assess the Brand Strength we use our BrandBeta Index which in the case of football clubs scores domestic and European honours, club heritage, revenue scale and split, attendances and global reach amongst others to benchmark the brands against each other. 2. Establish a Royalty Rate we review comparable licensing agreements as well as analysing margins and value drivers to establish a royalty rate range for the sector and revenue stream. The randeta is then applied to find the correct royalty rate for each brand within the range. 3. Determine the Discount Rate this allows us to calculate the net present value (NPV) of the brands future earnings, therefore putting future benefits in todays terms. 4. Brand Valuation Calculation steps 1-3 are then brought together to determine the NPV of post-tax royalties, which is the brand value.
How do we measure its value?
These are calculated using Brand Finances Brand Strength Index analysis, which benchmarks the strength, risk and future potential of a brand relative to its competitors on a scale ranging from AAA+ to D. It is conceptually similar to a credit rating. The data used to calculate the ratings comes from various sources including Bloomberg, annual reports and Brand Finance research.
We use the Royalty Relief method. This approach assumes the company doesnt own their brand and must license it from a theoretical third party. The method determines how much it would cost to do this. It is called the Royalty Relief method because when a business owns their brand they are relieved from paying a royalty rate for its use.
Brand ratings definitions

AAA+ Extremely strong AA Very strong A Strong BBB-B Average CCC-C Weak DDD-D Failing
Valuation date
Royalty Relief Approach
The Royalty Relief method is used for three main reasons: 1. It is the most recognised by technical authorities worldwide and favoured accounting, tax and legal users because it calculates brand values by reference to comparably third-party transactions. 2. The method ties back to the commercial reality of brands and their ability to command a premium in an arms length transaction. 3. It can be performed on the basis of publicly available financial information
All brand values in the report are as at 29th May 2013 and displayed in US$ millions. For any further information, please contact: Dave Chattaway Head of Sports Brand Valuation +44 207 389 9400 D.Chattaway@brandfinance.com Matt Hannagan Sports Valuation Analyst +44 207 389 9400 M.Hannagan@brandfinance.com Or visit: www.brandfinance.com
Brand Finance
About Brand Finance

Brand Finance is an independent global business focused on advising strongly branded organisations on how to maximize value through the effective management of their brands and intangible assets.
Since it was founded in 1996, Brand Finance has performed thousands of branded business, brand and intangible asset valuations worth trillions of dollars. licensing and joint ventures) involving different forms of intellectual property Valuations as part of a wider mandate to deliver value-based marketing strategy and tracking, thereby bridging the gap between marketing and finance. Our clients include international brand owners, tax authorities, IP lawyers and investment banks. Our work is frequently peer-reviewed by the big four audit practices and our reports have also been accepted by various regulatory bodies, including the UK Takeover Panel. Brand Finance is headquartered in London and has a network of international offices in Amsterdam, Bangalore, Barcelona, Cape Town, Colombo, Dubai, Geneva, Helsinki, Hong Kong, Istanbul, Lisbon, Madrid, Moscow, New York, Paris, Sao Paulo, Sydney, Singapore, Toronto and Zagreb. www.brandfinance.com
Brand Finances services support a variety of business needs:
Technical valuations for accounting, tax and legal purposes Valuations in support of commercial transactions (acquisitions, divestitures,
Our Services
At Brand Finance we have worked with world leaders in the sports industry helping them to build and understand their brand. We apply all of our core service offerings to the sports industry ensuring you get the most out of your partnership and brand assets. Our services are tailored separately towards the sponsor and the rights holder.
Valuation Sponsor Analytics Strategy Transactions
How much should you pay? Structure of payments Competitor research Brand value tracking Business case modelling Sponsorship impact on drivers of demand Return on investment Sponsorship objectives/KPI Commission of market research Proof of ROI Quantification of sponsorship benefits Database management Brand Audit Brand Fit analysis Stakeholder mapping Brand Licensing Budget setting / allocation Brand due diligence Negotiation strategy Brand licensing
Rights Holder
Valuation of rights Structure of charges Competitor research Market review & Expectations
Brand Audit What to license How to license it Selecting the right partners Building a more appealing brand to license Brand extension / diversification
Tax efficient brand structuring Transfer Pricing Fundraising
Contact Details Brand Finance is the leading brand valuation and strategy firm, helping companies to measure, manage and maximise the value of their brands for improved business results. For further enquiries relating to this report, please contact:
David Haigh CEO, UK david.haigh@brandfinance.com
Edgar Baum, North America e.baum@brandfinance.com
Xander Bird, Australia x.bird@bradfinance.com
Samir Dixit, Singapore s.dixit@brandfinance.com
Gilson Nunes, Brazil g.nunes@brandfinance.com
Joao Pinto Goncalves Hany Mwafy, Portugal Middle East j.pintogoncalves@brandfinance.com h.mwafy@brandfinance.com
Muhterem Ilguner Turkey m.ilguner@brandfinance.com
Unni Krishnan India u.krishnan@brandfinance.com
Dave Chattaway Head of Sports Valuation, UK d.chattaway@brandfinance.com
Marc Cloosterman Netherlands m.cloosterman@brandfinance.com
For further information on Brand Finances services, please contact your local representative: For all other countries, please contact: E. enquiries@brandfinance.com T. +44 (0)207 389 9400 www.brandfinance.com www.brandirectory.com www.brandfinanceforums.com
Further International Contacts Country Russia South Africa Sri Lanka South Korea Contact Alexander Eremenko Oliver Schmitz Ruchi Gunewardene Min Jae Son Email address a.eremenko@brandfinance.com o.schmitz@brandfinance.com r.gunewardene@brandfinance.com minjaeson@metabranding.com
Appendix
Contents
28-29 USD table 30-31 GBP table 31-32 EUR table

Main Sponsors 52% 63% 67% 70% 54% 56% 42% 55% 47,726 97% 80,065 58% 81,264 97% 61,482 100% 36,257 99% 41,000 52% Amsterdam ArenA 274 1 0 9 1910 1926 1899 Adidas Adidas Nike Puma 1907 1904 1970 1893 5 2 7 18 0 3 5 1 1 0 0 0 0 0 0 141 190 147 94 289 143 198 190 403 122 Giuseppe Meazza Imtech Arena Trk Telekom Arena Stade Vlodrome Estdio do Pacaembu San Paolo Stade de Gerland kr Saraolu Stadyumu BayArena Parc des Princes Mercedes-Benz Arena 52,960 89% 80,065 75% 57,274 95% 52,695 64% 60,031 85% 40,199 63% 60,240 76% 43,051 81% 50,530 78% 30,210 95% 48,712 60% 55,896 70% 49% 48% 56% 59% 50% Juventus Stadium 63% 123 52% 3 55% 48% 19 41% 1899 48% 41% 54% Adidas 49% 67% 58% 45% Mercedes-Benz Bank Kit Supplier Founded League CL Squad Stadium Titles Titles Value* 1900 1878 1902 1899 1905 1886 1858 1880 1899 1909 1904 2 29 31 18 6 4 2 433 0 357 7 0 220 Veltins-Arena White Hart Lane 8 1 342 SIGNAL IDUNA Park 18 7 281 Giuseppe Meazza 2 0 578 Etihad Stadium 18 5 327 Anfield Road 13 0 380 Emirates Stadium 60,355 99% 45,522 93% 4 1 517 Stamford Bridge 41,841 99% 22 4 806 Camp Nou 99,354 80% 31 9 798 Santiago Bernabu 80,354 91% 20 3 562 Old Trafford 75,957 99% 23 4 578 Allianz-Arena 69,901 99% Size Utilsation Manager Win %
2013 2012 Club rank rank 9% -2% 4% -1% 5% 6% -2% 10% -10% 15% -3% -3% 12% -12% -30% -6% NEW -34% 34% 20% -16% NEW 41% 34% 18% A+ A+ Emirates AASunPower A+ Turk Telekom AAHyundai Motors AAMSC Cruises Macron AA Caixa Nike AAInter Sport Adidas A+ Turk Telekom Nike 1905 AA Emirates Adidas 1887 AA+ Pirelli Nike 1908 AA AEGON Adidas 1900 AAAFiat-Jeep Nike 1897 AA Autonomy Under Armour 1882 AAGazprom Adidas AA Evonik Puma AAAEmirates Airlines Adidas AAEtihad Airways Umbro AA Standard Chartered Warrior AA+ Emirates Nike AA Samsung Adidas AAA Qatar Foundation Nike AAA+ bwin Adidas AAA+ Aon Nike AAA Deutsche Telekom Adidas
Country
2013 USD
2012 change Brand USD Rating
FC Bayern Mnchen
Germany
860
786
England
837
853
Real Madrid CF
Spain
621
600
FC Barcelona
Spain
572
580
Chelsea FC
England
418
398
Arsenal FC
England
410
388
Liverpool FC
England
361
367
Manchester City FC
England
332
302
AC Milan
Italy
263
292
10
11
Borussia Dortmund
Germany
260
227
11
10
FC Schalke 04
Germany
259
266
12
12
England
219
225
13
16
Juventus FC
Italy
180
160
Top 50 Football Brands USD
14
14
AFC Ajax
Netherlands 162
184
15
13
FC Internazionale Milano
Italy
151
215
16
17
Hamburger SV
Germany
144
153
17
NEW
Galatasaray A
Turkey
116
NEW
18
15
Olympique de Marseille
France
111
168
19
24
SC Corinthians Paulista
Brazil
103
77
20
22
SSC Napoli
Italy
101
85
21
18
Olympique Lyonnais
France
101
120
22
NEW
Fenerbahe SK
Turkey
95
NEW
23
36
Bayer 04 Leverkusen
Germany
90
64
24
38
Paris Saint-Germain FC
France
85
64
25
28
VfB Stuttgart
Germany
83
71

Main Sponsors 52% 41% 53% 37% 40% 46% 48% 42% 40,394 89% 25,700 97% 49,000 82% 32,145 82% 54,581 73% 16,798 48% Estdio do Morumbi 134 0 2 1 1888 1895 1909 adidas Puma Joma Macron 1878 1881 1926 1900 44 6 3 0 6 2 2 0 1 1 2 0 0 0 0 128 243 167 90 44 62 121 93 213 175 Philips Stadion Britannia Stadium Estdio da Luz Ramn Snchez Pizjuan Celtic Park Estdio Jornalista Mrio Filho Estdio Beira-Rio The Hawthorns 67,428 37% 35,500 94% 27,598 97% 65,647 58% 45,500 79% 60,832 81% 78,838 20% 56,000 16% 26,484 95% Stade Jacques-Chaban-Delmas 34,327 73% Artemio Franchi Olimpico di Roma 47,282 50% 72,698 38% 44% 55% 35% 49% 47% Estdio Urbano Caldeira 45% 94 55% 1 37% 60% 32 46% 1905 69% 43% 67% Nike 37% 39% 43% 55% Kit Supplier Founded League CL Squad Stadium Titles Titles Value* 1919 1945 1927 1895 1892 1874 1899 1878 1879 1879 1903 1903 1912 1935 1913 1863 1904 0 21 6 3 8 3 121 9 0 319 13 0 125 6 0 160 Stadium Of Light Fi-Yapi Inn Stadi Vicente Caldern 1 0 107 Craven Cottage 9 0 182 Goodison Park 4 0 114 Weserstadion 7 1 144 Villa Park 42,788 86% 42,358 88% 4 0 236 St. James Park 52,387 91% 0 0 127 Upton Park 35,016 95% 3 0 220 Olimpico di Roma 72,698 42% 1 0 126 Volkswagen Arena 30,000 96% 6 0 213 Mestalla 55,000 73% Size Utilsation Manager Win %
2013 2012 Club rank rank 22% 25% -3% 17% -6% -8% 17% 0% 16% 10% NEW 34% 70% 6% -18% 6% NEW 14% -13% 20% 8% NEW -30% 15% 12% AAAAMazda A+ Kia A Zoopla A+ Banrisul A+ Caixa Economica Federal Adidas AATennents Nike AA+ Umbro A+ Portugal Telecom adidas A+ Bet365 Adidas AAPhilips Nike A+ Semp Toshiba Penalty AA Philco Nike AAAzerbaijan Nike A+ Toyota Adidas A+ Invest in Africa Adidas A+ FxPro Kappa AAChang Nike AAWiesenhof Nike AAGenting Casinos Macron AA Virgin Money Puma A Sbobet Macron AA WIND Kappa A VW adidas AAJinko Solar Joma
Country
2013 USD
2012 change Brand USD Rating
26
31
Valencia CF
Spain
83
68
27
32
VfL Wolfsburg
Germany
82
66
28
21
AS Roma
Italy
82
85
29
29
West Ham United FC
England
82
70
30
20
Newcastle United FC
England
81
86
31
19
Aston Villa FC
England
80
87
32
30
SV Werder Bremen
Germany
79
68
33
23
Everton FC
England
78
79
34
34
Fulham FC
England
75
65
35
33
Sunderland AFC
England
72
66
36
NEW
Beikta JK
Turkey
71
NEW
37
45
Club Atltico de Madrid
Spain
67
50
38
NEW
Santos Futebol Clube
Brazil
65
38
39
39
So Paulo FC
Brazil
62
58
40
26
PSV Eindhoven
Netherlands 61
74
41
42
Stoke City FC
England
59
55
42
NEW
SL Benfica
Portugal
56
NEW
43
46
Sevilla FC
Spain
56
49
44
37
Celtic FC
Scotland
55
64
45
47
CR Flamengo
Brazil
55
46
46
44
SC Internacional
Brazil
55
51
47
West Bromwich Albion FC
England
54
NEW
48
25
FC Girondins de Bordeaux France
53
76
49
49
ACF Fiorentina
Italy
52
46
Top 50 Football Brands USD
50
48
SS Lazio SpA
Italy
52
46

2013 2012 Club rank rank 14% 2% 8% 2% 9% 10% 2% 14% -6% 19% 1% 1% 17% -8% -27% -3% A+ -32% 40% 24% -12% A+ 46% 39% 22% A+ A+ Emirates AASunPower Turk Telekom AAHyundai Motors AAMSC Cruises Macron AA Caixa Nike AAInter Sport Adidas Turk Telekom Nike 1905 AA Emirates Adidas 1887 AA+ Pirelli Nike 1908 AA AEGON Adidas 1900 AAAFiat-Jeep Nike 1897 AA Autonomy Under Armour 1882 AAGazprom Adidas AA Evonik Puma AAAEmirates Airlines Adidas AAEtihad Airways Umbro AA Standard Chartered Warrior AA+ Emirates Nike AA Samsung Adidas AAA Qatar Foundation Nike AAA+ bwin Adidas AAA+ Aon Nike AAA Deutsche Telekom Adidas
Country
2013 GBP
2012 change Brand GBP Rating
FC Bayern Mnchen
Germany
566
498
England
551
540
Real Madrid CF
Spain
409
380
FC Barcelona
Spain
376
368
Chelsea FC
England
275
252
Arsenal FC
England
270
246
Liverpool FC
England
237
233
Manchester City FC
England
218
191
AC Milan
Italy
173
185
10
11
Borussia Dortmund
Germany
171
144
11
10
FC Schalke 04
Germany
170
168
12
12
England
144
142
13
16
Juventus FC
Italy
118
101
Top 50 Football Brands GBP
14
14
AFC Ajax
Netherlands 107
117
15
13
Italy
99
136
16
17
Hamburger SV
Germany
95
97
17
NEW
Galatasaray A
Turkey
76
NEW
18
15
France
73
106
19
24
Brazil
68
48
20
22
SSC Napoli
Italy
67
54
21
18
Olympique Lyonnais
France
66
76
22
NEW
Fenerbahe SK
Turkey
63
NEW
23
36
Bayer 04 Leverkusen
Germany
59
41
24
38
France
56
40
25
28
VfB Stuttgart
Germany
55
45

Main Sponsors 52% 41% 53% 37% 40% 46% 48% 42% 40,394 89% 25,700 97% 49,000 82% 32,145 82% 54,581 73% 16,798 48% Estdio do Morumbi 88 0 2 1 1888 1895 1909 adidas Puma Joma Macron 1878 1881 1926 1900 44 6 3 0 6 2 2 0 1 1 2 0 0 0 0 84 160 110 59 29 40.5 79.5 61.5 140 115 Philips Stadion Britannia Stadium Estdio da Luz Ramn Snchez Pizjuan Celtic Park Estdio Jornalista Mrio Filho Estdio Beira-Rio The Hawthorns 67,428 37% 35,500 94% 27,598 97% 65,647 58% 45,500 79% 60,832 81% 78,838 20% 56,000 16% 26,484 95% Stade Jacques-Chaban-Delmas 34,327 73% Artemio Franchi Olimpico di Roma 47,282 50% 72,698 38% 44% 55% 35% 49% 47% Estdio Urbano Caldeira 45% 62 55% 1 37% 60% 32 46% 1905 69% 43% 67% Nike 37% 39% 43% 55% Kit Supplier Founded League CL Squad Stadium Titles Titles Value* 1919 1945 1927 1895 1892 1874 1899 1878 1879 1879 1903 1903 1912 1935 1913 1863 1904 0 21 6 3 8 3 79.5 9 0 210 13 0 82.5 6 0 105 Stadium Of Light Fi-Yapi Inn Stadi Vicente Caldern 1 0 70.5 Craven Cottage 9 0 120 Goodison Park 4 0 75 Weserstadion 7 1 95 Villa Park 42,788 86% 42,358 88% 4 0 155 St. James Park 52,387 91% 0 0 83.5 Upton Park 35,016 95% 3 0 145 Olimpico di Roma 72,698 42% 1 0 83 Volkswagen Arena 30,000 96% 6 0 140 Mestalla 55,000 73% Size Utilsation Manager Win %
2013 2012 Club rank rank 27% 30% 1% 21% -2% -5% 22% 4% 21% 14% A+ 39% 76% 10% -14% 10% A+ 19% -10% 24% 12% A -27% 19% 17% AAAAMazda A+ Kia Zoopla A+ Banrisul A+ Caixa Economica Federal Adidas AATennents Nike AA+ Umbro Portugal Telecom adidas A+ Bet365 Adidas AAPhilips Nike A+ Semp Toshiba Penalty AA Philco Nike AAAzerbaijan Nike Toyota Adidas A+ Invest in Africa Adidas A+ FxPro Kappa AAChang Nike AAWiesenhof Nike AAGenting Casinos Macron AA Virgin Money Puma A Sbobet Macron AA WIND Kappa A VW adidas AAJinko Solar Joma
Country
2013 GBP
2012 change Brand GBP Rating
26
31
Valencia CF
Spain
54
43
27
32
VfL Wolfsburg
Germany
54
42
28
21
AS Roma
Italy
54
54
29
29
West Ham United FC
England
54
44
30
20
Newcastle United FC
England
53
54
31
19
Aston Villa FC
England
53
55
32
30
SV Werder Bremen
Germany
52
43
33
23
Everton FC
England
52
50
34
34
Fulham FC
England
50
41
35
33
Sunderland AFC
England
48
42
36
NEW
Beikta JK
Turkey
47
NEW
37
45
Spain
44
32
38
NEW
Brazil
43
24
39
39
So Paulo FC
Brazil
41
37
40
26
PSV Eindhoven
Netherlands 40
47
41
42
Stoke City FC
England
39
35
42
NEW
SL Benfica
Portugal
37
NEW
43
46
Sevilla FC
Spain
37
31
44
37
Celtic FC
Scotland
36
40
45
47
CR Flamengo
Brazil
36
29
46
44
SC Internacional
Brazil
36
32
47
England
36
NEW
48
25
35
48
49
49
ACF Fiorentina
Italy
34
29
Top 50 Football Brands GBP
50
48
SS Lazio SpA
Italy
34
29

2013 2012 Club rank rank 8% -3% 2% -3% 4% 5% -3% 9% -11% 13% -4% -4% 11% -13% -31% -7% NEW -35% 33% 18% -17% NEW 39% 33% 16% A+ A+ Emirates AASunPower A+ Turk Telekom AAHyundai Motors AAMSC Cruises Macron AA Caixa Nike AAInter Sport Adidas A+ Turk Telekom Nike 1905 AA Emirates Adidas 1887 AA+ Pirelli Nike 1908 AA AEGON Adidas 1900 AAAFiat-Jeep Nike 1897 AA Autonomy Under Armour 1882 AAGazprom Adidas AA Evonik Puma AAAEmirates Airlines Adidas AAEtihad Airways Umbro AA Standard Chartered Warrior AA+ Emirates Nike AA Samsung Adidas AAA Qatar Foundation Nike AAA+ bwin Adidas AAA+ Aon Nike AAA Deutsche Telekom Adidas
Country
2013 2012 change Brand Euro Euro Rating
FC Bayern Mnchen
Germany
668
617
England
650
670
Real Madrid CF
Spain
482
471
FC Barcelona
Spain
444
456
Chelsea FC
England
325
312
Arsenal FC
England
319
305
Liverpool FC
England
280
288
Manchester City FC
England
257
237
AC Milan
Italy
204
229
10
11
Borussia Dortmund
Germany
202
178
11
10
FC Schalke 04
Germany
201
209
12
12
England
170
177
13
16
Juventus FC
Italy
140
126
Top 50 Football Brands Euro
14
14
AFC Ajax
Netherlands 126
145
15
13
Italy
117
169
16
17
Hamburger SV
Germany
112
121
17
NEW
Galatasaray A
Turkey
90
NEW
18
15
France
86
132
19
24
Brazil
80
60
20
22
SSC Napoli
Italy
78
66
21
18
Olympique Lyonnais
France
78
94
22
NEW
Fenerbahe SK
Turkey
74
NEW
23
36
Bayer 04 Leverkusen
Germany
70
50
24
38
France
66
50
25
28
VfB Stuttgart
Germany
64
55

Main Sponsors 52% 41% 53% 37% 40% 46% 48% 42% 40,394 89% 25,700 97% 49,000 82% 32,145 82% 54,581 73% 16,798 48% Estdio do Morumbi 104 0 2 1 1888 1895 1909 adidas Puma Joma Macron 1878 1881 1926 1900 44 6 3 0 6 2 2 0 1 1 2 0 0 0 0 99 189 130 70 34 48 94 73 165 136 Philips Stadion Britannia Stadium Estdio da Luz Ramn Snchez Pizjuan Celtic Park Estdio Jornalista Mrio Filho Estdio Beira-Rio The Hawthorns 67,428 37% 35,500 94% 27,598 97% 65,647 58% 45,500 79% 60,832 81% 78,838 20% 56,000 16% 26,484 95% Stade Jacques-Chaban-Delmas 34,327 73% Artemio Franchi Olimpico di Roma 47,282 50% 72,698 38% 44% 55% 35% 49% 47% Estdio Urbano Caldeira 45% 73 55% 1 37% 60% 32 46% 1905 69% 43% 67% Nike 37% 39% 43% 55% Kit Supplier Founded League CL Squad Stadium Titles Titles Value* 1919 1945 1927 1895 1892 1874 1899 1878 1879 1879 1903 1903 1912 1935 1913 1863 1904 0 21 6 3 8 3 94 9 0 248 13 0 97 6 0 124 Stadium Of Light Fi-Yapi Inn Stadi Vicente Caldern 1 0 83 Craven Cottage 9 0 142 Goodison Park 4 0 89 Weserstadion 7 1 112 Villa Park 42,788 86% 42,358 88% 4 0 183 St. James Park 52,387 91% 0 0 99 Upton Park 35,016 95% 3 0 171 Olimpico di Roma 72,698 42% 1 0 98 Volkswagen Arena 30,000 96% 6 0 165 Mestalla 55,000 73% Size Utilsation Manager Win %
2013 2012 Club rank rank 21% 24% -4% 15% -7% -9% 16% -1% 15% 9% NEW 32% 68% 5% -18% 5% NEW 13% -14% 18% 7% NEW -31% 13% 11% AAAAMazda A+ Kia A Zoopla A+ Banrisul A+ Caixa Economica Federal Adidas AATennents Nike AA+ Umbro A+ Portugal Telecom adidas A+ Bet365 Adidas AAPhilips Nike A+ Semp Toshiba Penalty AA Philco Nike AAAzerbaijan Nike A+ Toyota Adidas A+ Invest in Africa Adidas A+ FxPro Kappa AAChang Nike AAWiesenhof Nike AAGenting Casinos Macron AA Virgin Money Puma A Sbobet Macron AA WIND Kappa A VW adidas AAJinko Solar Joma
Country
2013 2012 change Brand Euro Euro Rating
26
31
Valencia CF
Spain
64
53
27
32
VfL Wolfsburg
Germany
64
52
28
21
AS Roma
Italy
64
66
29
29
West Ham United FC
England
63
55
30
20
Newcastle United FC
England
63
67
31
19
Aston Villa FC
England
62
69
32
30
SV Werder Bremen
Germany
62
53
33
23
Everton FC
England
61
62
34
34
Fulham FC
England
58
51
35
33
Sunderland AFC
England
56
52
36
NEW
Beikta JK
Turkey
55
NEW
37
45
Spain
52
39
38
NEW
Brazil
50
30
39
39
So Paulo FC
Brazil
48
46
40
26
PSV Eindhoven
Netherlands 47
58
41
42
Stoke City FC
England
46
43
42
NEW
SL Benfica
Portugal
44
NEW
43
46
Sevilla FC
Spain
43
38
44
37
Celtic FC
Scotland
43
50
45
47
CR Flamengo
Brazil
43
36
46
44
SC Internacional
Brazil
42
40
47
England
42
NEW
48
25
41
60
49
49
ACF Fiorentina
Italy
41
36
Top 50 Football Brands Euro
50
48
SS Lazio SpA
Italy
40
36
T: +44 (0) 207 389 9400 E: enquiries@brandfinance.com
www.brandfinance.com

Clubes Mais Valiosos Do Mundo

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Clubes Mais Valiosos Do Mundo

Uploaded by

Copyright:

Available Formats

BRANDFINANCE football 50

Fussballs Coming Home

2 | BRANDFINANCE football 50 | MAY 2013

MAY 2013 | BRANDFINANCE Football 50 | 3

4 | BRANDFINANCE football 50 | MAY 2013

Liverpool FC Manchester City FC AC Milan Borussia Dortmund

MAY 2013 | BRANDFINANCE Football 50 | 5

PSV Eindhoven Stoke City FC SL Benfica Sevilla FC Celtic FC CR Flamengo

West Bromwich Albion FC FC Girondins de Bordeaux ACF Fiorentina SS Lazio SpA

6 | BRANDFINANCE football 50 | MAY 2013

MAY 2013 | BRANDFINANCE Football 50 | 7

The Top 10: Profiles

2012 USD 786

Brand rating AAA

2012 USD 853

Brand rating AAA+ 2012 rank: 1

2012 USD 600

Brand rating AAA+ 2012 rank: 3

2012 USD 580

Brand rating AAA

2012 USD 398

2012 USD 388

Brand rating AA+

2012 USD 367

Manchester City FC England

Brand rating AA-

2012 USD 292

Brand rating AAA-

2012 USD 227

8 | BRANDFINANCE football 50 | MAY 2013

The Top 10: Profiles 01

MAY 2013 | BRANDFINANCE Football 50 | 9

The Top 10: Profiles 02

10 | BRANDFINANCE football 50 | MAY 2013

The Top 10: Profiles 03, 04

MAY 2013 | BRANDFINANCE Football 50 | 11

The Top 10: Profiles 05, 06

12 | BRANDFINANCE football 50 | MAY 2013

The Top 10: Profiles 07, 08

MAY 2013 | BRANDFINANCE Football 50 | 13

The Top 10: Profiles 09, 10

14 | BRANDFINANCE football 50 | MAY 2013

Top 10 historical overview 2013

FC Bayern Mnchen Manchester United FC Real Madrid CF FC Barcelona Chelsea FC

Arsenal FC Liverpool FC Manchester City FC AC Milan Borussia Dortmund

AC Milan win Champions League

Manchester United win the Champions League

Manchester City win the Premier League

MAY 2013 | BRANDFINANCE Football 50 | 15

Winners and losers

BRAND VALUE CHANGE (%)

BRAND VALUE CHANGE (USDm)

68 29 27 27 24 23 19 19 18 17 Hamburger SV Aston Villa FC Celtic FC PSV Eindhoven

16 | BRANDFINANCE football 50 | MAY 2013

What the clubs say

What do you view as key territories for further brand growth?

MAY 2013 | BRANDFINANCE Football 50 | 17

What the clubs say

Do you benchmark/record your brand value in any way?

Do you have a documented set of brand guidelines/values?

What impact has the new stadium had on your brand?

What do you view as key territories for further brand growth?

Francesco Calvo, Commercial Director

Tax efficient brand structuring Transfer Pricing Fundraising