LONDON: Real Madrid have replaced Manchester United as the wealthiest football club in the world, according to the latest Deloitte Football Money League.

Spanish rivals Barcelona claimed second place, with the Red Devils slipping into third after generating £590m during the 2017-18 season – representing a comparatively low 2% year-on-year increase.

How the clubs rank in Deloitte's latest . . .

Dan Jones, head of the Sports Business Group at Deloitte, said: “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.”

German champions Bayern Munich ranked fourth for a second year running with £557m, ahead of Premier League champions Manchester City with revenues of £504m – an 11% rise from 2016-17 figures.

French Ligue 1 giants Paris Saint-Germain climbed one place into sixth spot on £480m, followed by Liverpool.

The Anfield club recorded the biggest income increase from clubs in the top 10, with profits soaring 25% to £455m after reaching the Champions League final last season.

Arsenal (£389m) dropped three places into ninth spot after missing out on Champions League football for the first time in two decades, but narrowly trumped north London rivals Tottenham (£379m).

Everton (£189m), West Ham (£175m) and Newcastle (£179m) also made the top 20, with Rafa Benitez’s side recording a chart-topping 108% increase in revenue – up from £86m in 2016-17.

Other clubs to make the annual index include Juventus (£350m), Borussia Dortmund (£281m), Atletico Madrid (£270m), Inter Milan (£249m), Roma (£222m), Schalke (£216m) and AC Milan (£184m).