FC Barcelona tops the list of the richest football clubs in the world for the first time with turnover of 840.8 million euros (935.97 million dollars) during the 2018 season -19, according to Deloitte Football Money League.
Barcelona dethrones Real Madrid to take the lead, beating Madrid's revenue of $848 million as the revenue gap lessens between the two clubs after a long-fought battle for 23 years.
Consulting firm Deloitte warned that United's status as the Premier League's highest revenue generating club was under serious threat from rivals Manchester City and Liverpool - who between them are the reigning English, European and world champions - for the first time in next year's edition of the Money League.
The 20 most powerful clubs generated a revenue of 9.3 billion euros in the 2018-19 season, according to the 23rd edition of the ranking, 11 per cent more than the previous season, with an increase of 16 per cent in the revenue generated from television rights (a total of 575 million euros), an increase of 9 per cent in commercial revenue (313 million) and 4 per cent more in match day revenue (tickets and passes, 51 million).
Dan Jones, partner in the Sports Business Group at Deloitte, commented: "Barca is a clear example of a club adapting to changing market conditions, reducing the reliance on broadcast revenue and focusing on growing revenues within its control".
United's place as number one English club - a position they have held since the first Money League survey in 1996-97 - is in peril because they are forecasting reduced revenues of between £560-580 million for 2019-20, partly because they failed to qualify for this season's Champions League.
While Jones says revenue growth in Europe's big soccer leagues continues to outpace other sectors, mainly because of broadcasting rights, there is a marked concentration of increase at the top－the combined revenue of the top five clubs is greater than the combined total of the clubs ranked 10th to 20th.
Manchester United (€711.5m), Bayern Munich (€660.1m) and Paris Saint-Germain (€635.9m) round out the top ten, with Manchester City (€610.6m) and Liverpool (€604.7m) sixth and seventh respectively. Spurs' revenue increased 21% to £459.3m, which was largely attributable to increased revenue from broadcasters and commercial sources.
Arsenal has slipped out of the top 10 for the first time. Juventus is the highest-placed Serie A club, in 10th, while the Turin giant's domestic rival Napoli has moved into the top 20. In the last five years the collective broadcast revenue of the top 20 clubs has grown at a compound annual growth rate of 11%, the most of any of the revenue streams.