Barcelona have overtaken arch rivals, Real Madrid, to top the latest Deloitte Football Money League.
The Laliga champions also became the first club to break the $890.9 million revenue barrier.
The 23rd edition of the list of rich football clubs, shows 11 per cent rise in combined revenues, excluding transfer fees, for the top 20 clubs, who between them enjoyed turnover record of $10.3 billion for the 2018-19 season.
Real dropped to second, generating income of $843.3 million, while Manchester United remain third.
Arsenal slipped out of the top 10 for the first time.
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Barcelona’s rise to the top with income of $935.4 million is a clear sign of “a club adapting to changing market conditions, by bringing merchandising and licensing activities in-house,” according to Dan Jones, partner in the Sports Business Group at Deloitte.
“Barca have reduced the reliance on broadcast revenue and focusing on growing revenues within its control,” he said.
“With the club expecting further growth of 30 million euros ($33.4 million) in commercial revenues and total revenue of almost 880 million euros ($935.4 million) in 2019-20 we expect them to retain the top spot next year.
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“Barca are on course to achieve its stated ambition to be the first one billion Money League club in years to come.”
Bayern Munich remain in fourth position, with Paris Saint-Germain entering the top five ahead of Manchester City.
Champions League winners, Liverpool, are seventh, one place ahead of Tottenham Hotspur, who they beat in the final last season.
Tottenham’s $580.3 million income pushes them ahead of Chelsea and Arsenal, making them London’s highest revenue-generating club for the first time since 1996-97.
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Again, the Premier League’s eye-watering television broadcast deals have enabled it to dominate the Money League, with eight clubs inside the top 20.
Spain’s La Liga and German’s Bundesliga has three each, while Serie A has four, but Juventus are the highest-placed in 10th. Napoli have moved into the top 20.
Juventus’ revenue increased by 17 per cent to $511.0 million, influenced by the arrival of Portuguese forward, Cristiano Ronaldo.
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Apart from PSG, only Olympique Lyonnais of France’s Ligue 1 are on the list.
The highest-ranked club outside the big five leagues is Ajax Amsterdam in 23rd place.