Manchester City have been named the world’s richest football club in the latest edition of Deloitte’s Football Money League.
City topped the list, which is based on revenue, for the first time after increasing their income to €645m (£571m) in 2020-21 – despite the effects of the pandemic.
The Premier League champions climbed five places, putting them ahead of Real Madrid, Bayern Munich, Barcelona and Manchester United.
Paris Saint-Germain, Liverpool, Chelsea, Juventus and Tottenham Hotspur complete a top 10 of the world’s richest clubs that remains comprised of the same teams.
But Wolves and Aston Villa were new entrants to the top 20, which features 10 English clubs.
The pandemic had an impact on all clubs’ figures, and clubs from some leagues received payments deferred from the previous accounting year due to the delay in finishing the 2019-20 season.
With Covid-19 still severely restricting attendances and matchday income last term, almost all of City’s revenue came from broadcasting and commercial streams.
The club earned €336m (£297m) in broadcast payments, helped by their title win and run to the final of the Champions League.
That figure was higher than at any other team, while their commercial income of €308m (£273m) was also among the top five.
City’s revenue has grown from £13m to £571m in the 25 years that Deloitte has been compiling the annual report, it said.
Manchester United fell to fifth, their lowest position in the Money League and only just above PSG, despite finishing second in the Premier League and reaching the Europa League final.
Liverpool slipped two places in the list of the world’s richest clubs as they struggled to match the success of previous seasons but Chelsea retained eighth place after winning the Champions League.
Tottenham dropped to 10th behind Juventus and one place above neighbours Arsenal, having been badly hit by the absence of fans at their games.
Leicester City (15th) and West Ham (16th) returned to the top 20 thanks to strong on-field seasons, followed by newcomers Wolves and Everton.
While England boast 10 clubs in the 2022 Money League, Spain (Real Madrid, Barcelona and Atletico Madrid) and Italy (Juventus, Inter Milan and AC Milan) are the next best represented with three teams each, followed by Germany (Bayern Munich and Borussia Dortmund).