Manchester United have topped the table of the world’s 20 richest football clubs for the second year in a row, and 10th time overall, says Deloitte.
Its Football Money League, based on season 2016-17, also shows the combined revenues of the 20 clubs has risen 6% to €7.9bn (£6.97bn), a new record.
Real Madrid, which held top spot for 11 years, were second and Barcelona third.
There were a record 10 English Premier League clubs in the top 20. The number in the top 30 was up from 12 to 14.
The list only looks at revenues accrued and do not take into account club debts.
This year’s battle for first place was the closest yet, with just €1.7m separating Manchester United and Real Madrid.
Manchester United’s €676m revenues were boosted by €44.5m from UEFA after winning the Europa League against Ajax.
Deloitte said this sum was “the critical factor in keeping them ahead of Real Madrid and Barcelona”.
Bayern Munich and Manchester City completed the top five, retaining their positions from last year.
Arsenal, Paris St-Germain, Chelsea, Liverpool and Juventus occupied places six to 10. Tottenham were in 11th spot, Leicester City 14th, West Ham 17th, Southampton 18th and Everton 20th.
All the 20 clubs represented are from the “big five” European leagues, with Italy, Germany and Spain contributing three clubs each and France one.