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Bayern Munich top football brand but Man Utd and Chelsea SLIDE down rankings
BAYERN MUNICH are the most valuable football brand in the world but Manchester United and Chelsea have seen a sharp decline in theirs according to a study.
Having led the way for several years, United's 2014 value of £439million represented a drop of nearly £60m in a single year.
The Brand Finance Table which records ratings, shows United have dropped a place from second to third.
Their bitter crosstown rivals City have a AAA- rating and have closed the gap, jumping three spots in the last year.
The results didn't make good reading for Chelsea who slipped two spots from fifth to seventh.
Arsenal remain unmoved and keep hold of sixth place.
Meanwhile, Paris Saint-Germain, who are closing in on a £50m deal for David Luiz, have seen their brand value quadruple.