Whenever I watch soccer this is something I've kind of thought about.
I always thought Brazil was comparable to Canada, not in terms of style of play obviously, but in terms of accomplishment and regard. When Brasil loses a game, it becomes noteworthy, even when they field a B or C side (like during qualification for 2002), much like when Canada loses at any competition. Nations take pride in beating any Brasilian side in soccer, much like with Canada in hockey.
When you see a big club sign massive players, I compare it to the NHL sometimes. Like to me, Real Madrid is like the Detroit Red Wings (not New York Rangers, because of their poor record). They are able to lure very good players because of the situation they have.
Real Madrid = Detroit Red Wings
Manchester United = Toronto Maple Leafs (only because of their popularity, media attention, world wide fan base)
Liverpool=Montreal Canadiens (large fan base, but have struggled to regain their form from the 1970s-80s. Have had a few good seasons recently, but not near top form.. but it can be argued that Montreal is more important to hockey, than Liverpool is to soccer )
I'm certain that people will disagree. I'm not as fluent in soccer as I am in hockey, so I may be off base. But just some observations.