United remain Europe’s most valuable club despite failing to win a trophy this season.
For the second year running, United beat both Real Madrid and Barcelona to the title in KPMG’s Football clubs’ valuation: the European Elite 2018’study.
The report values United at £2.86bn – a 10 per cent increase on last year’s total which puts Jose Mourinho’s side £294m ahead of Madrid in the table.
Executive vice-chairman Ed Woodward revealed United’s net debt had decreased by £65m to £301.3m in the club’s latest quarterly financial results, with revenue increasing by eight per cent.
That is despite United finishing 19 points behind City in the Premier League, losing the FA Cup final, being eliminated in the last 16 of the Champions League and being knocked out of the Carabao Cup by Bristol City in the quarter-finals.
The figures by KPMG, one of the world’s four big auditing companies, are based on an analysis of the latest publicly available financial documents.