Manchester United's poor 2013-14 season has resulted in the club's brand taking a hit, according to a study by consultancy Brand Finance.
The North-West outfit's value has dropped by around £58m to £439m after finishing seventh in the Premier League table under former manager David Moyes.
The club, which will be led by new boss Louis van Gaal next season, are positioned below Bayern Munich and Real Madrid as the third most-valuable football brand, according to BBC News.
Despite Real clinching their 10th European Cup by beating Atletico Madrid 4-1 in Lisbon during the Champions League final on Saturday, Bayern remain on top in the brand stakes.
The report claims that the German club are the most valuable brand due to winning the Bundesliga title by a record number of points last season.
