La Liga giants, Real Madrid, have dethroned Manchester United off the top of Deloitte’s Football Money League.
The Red Devils dropped to third in the rankings behind Madrid and Barcelona who took the top spots.
However, United continued their dominance in the Premier League as they ranked top above rivals Manchester City, Arsenal and Chelsea.
According to figures published by financial services firm Deloitte, the Manchester outfit generated N 278 billion (£590m) in revenue this year, a decrease of N4.2 billion (€10.3m).
The decrease has been attributed in part by the weakening of the pound and their early exit from the Champions League last season.
Real Madrid on their part generated a whopping N307.8 billion (€750m), to become the first club to break the €700m mark.
Madrid’s financial success was credited to their triumph in the UEFA Champions League, having won the title for three consecutive years.
“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,” Dan Jones, partner in the Sports Business Group at Deloitte was quoted saying.
“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,” he added.
Meanwhile, the top ten chart saw Premier League clubs flex their financial muscles in Europe, with six clubs, including Tottenham Hotspurs making the list.
The Deloitte list classified clubs on how much money they rake from broadcasting, commercial deals and match-day revenues during the 2017-18 season.
Here is the top ten list of richest clubs in the world:
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)