Real Madrid Tops Ranking of World Football's Highest Revenue-Generating Clubs

Real Madrid may have come up short in LaLiga and the Champions League in 2022-23, but they can at least claim a Deloitte Football Money League title.

The company released its annual analysis Thursday, with Madrid sitting atop the list thanks to €831 million in revenue. That was a significant increase from the €713.8 million it generated for the 2021-22 season.

Here's how the top 10 looked:

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Deloitte Football Money League

1. Real Madrid (€831.4M) 
2. Manchester City (€825.9M) 
3. Paris Saint-Germain (€801.8M) 
4. Barcelona (€800.1M) 
5. Manchester United (€745.8M) 
6. Bayern Munich (€744M) 
7. Liverpool (€682.9M) 
8. Tottenham Hotspur (€631.5M) 
9. Chelsea (€589.4M) 
10. Arsenal (€532.6M)

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A surge in commercial revenue helped Real Madrid overtake Manchester City for the No. 1 spot despite City winning a historic treble. Los Blancos earned €403 million from sources away from the pitch, well up from €319 million last year.

It was a similar story for Real Madrid's biggest rival.

Perhaps the bill will come due for Barcelona eventually after club president Joan Laporta pulled all of the economic "levers" at his disposal. The short-term boost those measures provided is evident in the fact Barça's overall revenue went from €638 million to €800 million, the majority of which was considered commercial (€412 million).

That Barcelona's player wages still accounted for 81 percent of its total revenue still raises questions as to the sustainability of the club's finances.

Deloitte's findings certainly provide an obvious counterargument should Real Madrid and Barcelona officials renew their pleas that a European Super League is required.