The result was announced as part of the organisation’s annual ‘Football 50’ report, which is the only study of its kind to analyse and rank top clubs by the value of their brand.

United’s on-field performances, culminating in an instant return to the Premier League, continue to be the major influence on the club’s off-field success, while the size of the Magpies’ fanbase and level of fan satisfaction, overall brand management and social media presence are among other factors considered.

Despite spending the 2016/17 season in the Championship, United already sit ahead of several existing Premier League clubs in the rankings.

Overall growth in the club’s brand value is recorded at 92% over the last 12 months, with Champions League runners-up Juventus achieving the next best percentage growth globally with a 72% increase.

Joslyn Pannu, communications manager at Brand Finance, said: “Newcastle United have just passed the most valuable threshold in world football; promotion to the Premier League.

“The Magpies have deep roots in the Premier League and the restoration of such an iconic club will boost the brand strength of the league as a whole.”

Real Madrid, who won both La Liga and the UEFA Champions League in 2017, are named as the world’s most powerful football brand ahead of FC Barcelona and Bayern Munich, while Manchester United - fourth overall - are England’s most valuable football brand.

Brand Finance is the world's leading independent branded business valuation and strategy consultancy. You can read the full 'Football 50' report, here.