Real Madrid reclaim world's highest-earning club title from Manchester United
Real Madrid have replaced Manchester United as the highest-earning club in the world, according to the latest Deloitte Football Money League.
Madrid have become the first club to generate more than €750million in revenue in figures collated for the 2017-18 season and they regain their place at the top of the rankings, with United slipping from first to third.
LaLiga champions Barcelona move up to second from third, while Tottenham have climbed into the top 10 for only the second time.
There are six Premier League clubs in the top 10, with Manchester City completing the leading five in behind Bundesliga champions Bayern Munich.
But it is European and world champions Madrid who are top of the pile for a record 12th time, the Spanish giants reclaiming the position they last held in 2014-15.
"European football remains a bull market, with annual revenue growth of almost €450million in this year's Football Money League," said Dan Jones, partner in the Sports Business Group at Deloitte.
"At the top, we have seen Real Madrid shatter records, becoming the first club to break the three-quarters-of-a-billion-euro mark and claim a record 12th Money League title in the process.
"Real Madrid's outstanding financial performance in 2017-18 is built on their long history of success on the pitch, most recently three consecutive Champions League titles. This has enabled the club to continue to drive commercial revenue as the appetite to partner with Europe's most successful clubs remains stronger than ever.
"Most of our top 10 are through to the round of 16 of the Champions League and forecasting further revenue growth, meaning their relative performances in UEFA's flagship competition this season could have a noticeable impact on our rankings next year."
Arsenal slip to ninth, a place below London rivals Chelsea, while Liverpool are in seventh. The top 20 of the Deloitte Football Money League also includes Premier League clubs Everton (17th), Newcastle United (19th) and West Ham (20th).
"The substantial presence of Premier League clubs continues to be felt in this year's Deloitte Football Money League," said Sam Boor, senior manager in the Sports Business Group at Deloitte.
"However, with the Premier League's tender for the next cycle of domestic rights from 2019-20 complete and sale of overseas rights nearing conclusion, it is clear that Premier League clubs will be unable to rely on explosive growth in broadcast distributions as a source of future growth, as has been the case in recent years.
"As a result, we expect an even greater emphasis among these clubs on generating their own growth in the coming season, and in particular the optimisation of commercial revenue, which has been a key area for differentiating growth across most of Europe's leading clubs in recent years."
The Deloitte Football Money League in full:
1. Real Madrid - €750.9m
2. Barcelona – €690.4m
3. Manchester United - €666m
4. Bayern Munich - €629.2m
5. Manchester City - €568.4m
6. Paris Saint-Germain - €541.7m
7. Liverpool - €513.7m
8. Chelsea - €505.7m
9. Arsenal - €439.2m
10. Tottenham - €428.3m
11. Juventus - €394.9m
12. Borussia Dortmund - €317.2m
13. Atletico Madrid - €304.4m
14. Inter - €280.8m
15. Roma - €250m
16. Schalke - €243.8m
17. Everton - €212.9m
18. AC Milan - €207.7m
19. Newcastle United - €201.5m
20. West Ham - €197.9m