Real Madrid retained its title as the biggest club financially in the world as a new Deloitte report showed that the combined revenues of Europe’s top 20 clubs exceeded €4.8b in 2011-12, a 10% rise from the previous season’s top 20.
In a clear indication that Uefa’s Financial Fair Play rules will not work, the same 10 clubs occupy the top 10 places in the Money League for the second successive year.
Topping the list is Real Madrid, which is the first football club to break through the €500m (£420m) barrier. Barcelona, Manchester United, Bayern Munich and Chelsea make up the rest of the top five spots.
Chelsea’s revenues were boosted significantly by winning both the Uefa Champions League and the FA Cup.
Manchester City was joint top riser, jumping from twelfth to seventh spot as the Premier League champions saw their revenues rise to €286m from €170m
Arsenal dropped one place to sixth due to Chelsea’s success on the pitch, but recorded a €40m jump in revenues.
Liverpool held on to ninth spot, with revenues growing by €30m despite a disappointing season in the Premier League and a lack of European football for the first time since 1999-2000. This was due in part to two domestic cup final appearances and the new owners focusing on increasing commercial revenues.
Borussia Dortmund took 11th place thanks to a successful season on the pitch, while Inter Milan fell out of the top 10 for the first time in a decade.
Tottenham Hotspur fell two places to 13th after revenues dropped slightly, while Schalke 04 dropped four places to 14th as revenues fell by €25m after the club was unable to repeat the success of its 2010-11 Champions League campaign, when it reached the semi-finals.
Napoli, Marseille, Lyon, Hamburg, Roma and Newcastle rounded out the rest of the top 20.
The only new entrant was 20th-place Newcastle, which took Valencia’s spot and returned to the list after a three-year absence. The Magpies generated 115.3m after finishing fifth in the Premier League.
Outside the so-called big five European leagues, Dutch club Ajax were placed 24th with revenues of €104.1m, while Turkish giants Galatasaray were 30th, with revenues of €95.1m.
Deloitte Football Money League
- Real Madrid: €512.6m
- Barcelona: €483m
- Man Utd: €395.9m
- Bayern Munich: €368.4m
- Chelsea: €322.6m
- Arsenal: €290.3m
- Manchester City: €285.6m
- AC Milan: €256.9m
- Liverpool: €233.2m
- Juventus: €195.4m
- Borussia Dortmund €189.1m
- Inter Milan €185.9m
- Tottenham Hotspur €178.2m
- Schalke 04 €174.5m
- Napoli €148.4m
- Marseille €135.7m
- Lyon €131.9m
- Hamburg €121.1m
- Roma €115.9m
- Newcastle €115.3m
Source: Deloitte, 2011-12