Chelsea and Manchester City are also in the top five - ranking fourth and fifth respectively - with German champions Bayern Munich at No.2 and Real Madrid No.3.
Barcelona, despite their Champions League triumph, have dropped to sixth, being leapfrogged by the two English clubs.
United themselves rose to claim top spot from Bayern, having undergone 63 per cent growth, with sponsors’ desire to be associated with the club's brand undimmed.
The current shirt deal with Chevrolet (£47 million per year) is worth more than double that with previous partner AON, while the club have also signed a 10-year £750million deal with Adidas to be the club's new kit provider.
Barcelona fall just short, despite Saturday's Champions League final alone adding $28million to their brand value - contributing to an overall increase on 2014 of $151million.
Despite their success, Clasico rivals Real Madrid, who failed to notch a major honour this season, still hold a $100million advantage over the Catalan club, in a top 10 dominated by the Premier League.
Arsenal and Liverpool rank seventh and eighth, with French quadruple winners PSG ranking ninth and Tottenham Hotspur completing the top 10 - although Spurs brand value is almost HALF of their north London rivals.
Premier League sides continue to rise thanks in part to the league's new record-breaking deal for the broadcasting rights from 2016-19.
Indeed, Southampton have the fastest growing brand, with their challenge for Champions League football seeing them increase 89 per cent on 2014.
Having faced administration six years ago, their brand is now worth $183million (18th overall) while they'll be in the Europa League qualifiers in July.
Elsewhere in the top 25 lie Everton (15th), West Ham (16th), Aston Villa (21st) and Newcastle (22nd).
The highest new entry into the top 50 are Ligue 1 side Monaco (17th), helped in large part by their run to the Champions League quarter-final.
The world's most valuable football club brands - Top 50
Manchester United (Eng): $1206million
Bayern Munich (Ger): $933million
Real Madrid (Spa): $873million
Manchester City (Eng): $800million
Chelsea (Eng): $795million
Barcelona (Spa): $773million
Arsenal (Eng): $703million
Liverpool (Eng): $577million
Paris Saint-Germain (Fra): $541million
Tottenham Hotspur (Eng): $360million
Juventus (Ita): $350million
Borussia Dortmund (Ger): $326million
Schalke 04 (Ger): $302million
AC Milan (Ita): $244million
Everton (Eng): $228million
West Ham United (Eng): $209million
AS Monaco (Fra): $202million
Southampton (Eng): $183million
Galatasaray (Tur): $177 million
Inter Milan (Ita): $160million
Aston Villa (Eng): $155million
Newcastle United (Eng): $155million
Atletico Madrid (Spa): $151million
Napoli (Ita): $147million
Ajax (Ned): $145million
Stoke City (Eng): $140million
Swansea City (Eng): $135million
Bayer Leverkusen (Ger): $135million
Sunderland (Eng): $134million
Crystal Palace (Eng): $133million
Marseille (Fra): $129million
VFB Stuttgart (Ger): $121million
Fenerbahce (Tur): $120million
Celtic (Sco): $120million
AS Roma (Ita): $117million
VFL Wolfsburg (Ger): $116million
West Bromwich Albion (Eng): $115million
Lyon (Fra): $111million
Valencia (Spa): $107million
Benfica (Por): $103million
Hamburg (Ger): $103million
Leicester City (Eng): $102million
Sao Paulo (Bra): $95million
Werder Bremen (Ger): $88million
Borussia Monchengladbach (Ger): $86million
PSV Eindhoven (Ned): $86million
Sevilla (Spa): $81million
Corinthians (Bra): $79million
Lazio (Ita): $78million
Fiorentina (Ita): $76million
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