Despite a turbulent year for British clubs, the Old Trafford side held on to top spot in Forbes Magazine's list of the world's 20 most valuable football teams.
Seven of the 20 teams featuring in the table hailed from England.
Man Utd, who have now topped the table for six years, were valued by Forbes at £1.19 billion after a 2% fall from last year.
Newcastle, rated as 20th most valuable, were a surprise inclusion after being relegated last year.
Arsenal came third, ahead of Liverpool in sixth, Chelsea in ninth and Tottenham at 12th. Big-spending Manchester City trailed in 19th place.