Manchester United is the most valuable sports brand in Europe, according to a report by FutureBrand.
But United came second to the Dallas Cowboys in the world rankings.
Future Brand, which is part of global advertising group Interpublic Group of Companies, valued each sports franchise using a methodology normally used for calculating the brand value of large commercial businesses.
United's brand is valued at $259 million, the report says, putting it ahead of Spanish football club Real Madrid, which has a value of $155 million and Bayern Munich, which has a value of $150 million.
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