Watford are the 50th most valuable club brand in the world, according to an annual report.
The Brand Finance Football 50 lists the most valuable club brands in 2016 and the Hornets are new entrants with a value of £61m.
Consultants Brand Finance calculated the strength of the brand based on the club's ability to secure popular interest and convert it into support.
This comes through brand investment, emotional connection and commercial performance which is seen through matchday, broadcasting and commercial revenue.
Manchester United remain top of the list with a brand value of £793m and are followed by Real Madrid (£778m) and Barcelona (£672m).
Watford are 18th highest in the UK and the strength of the English game is shown by the comparison to Spain which has seven clubs in the top 50, Germany which has 11 and Italy with only five teams.
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