For the first time since the rankings began a decade ago, two Spanish teams feature at the top of Forbes magazine’s run-down of football’s richest clubs.
Real Madrid edge out Barcelona in their 2014 edition, which sees Manchester United drop down to third after missing out on last year’s top spot for the first time in eight seasons.
Arsenal also fall a place, replaced by Champions League holders Bayern Munich, but both Chelsea and Manchester City climb further up the top 10.
Liverpool and Tottenham Hotspur complete the English sextet, with Newcastle United dropping out, having narrowly made the cut in 2013.
Qatar-backed Paris Saint-Germain and Turkish giants Galatasaray are the two newcomers, while both Atletico Madrid and AS Roma return following spells away.
The full list is as follows….
20. Napoli
Current value: $296m
Revenue (2012-13): $156m
Operating income (2012-13): $47m
Last Year’s Ranking: 17
Napoli departed the Champions League at the group stage in 2013-14 but will be back next season after finishing third in Serie A. They are one of few Italian teams to turn a profit.
19. AS Roma
Current value: $307m
Revenue (2012-13): $162m
Operating loss (2012-13): $18m
Last Year’s Ranking: N/A
Runners-up in Serie A, Roma will return to the Champions League next season for the first time in three years. A new Colosseum-inspired stadium is in the pipeline ahead of the 2016-17 campaign.
18. Hamburg SV
Current value: $326m
Revenue (2012-13): $176m
Operating income (2012-13): $35m
Last Year’s Ranking: 18
Hamburg have never qualified for the Champions League since its inception in 1992, but their merchandise revenue grew by 15% last season, bringing in an extra $12m.
17. Atletico Madrid
Current value: $328m
Revenue (2012-13): $156m
Operating income (2012-13): $36m
Last Year’s Ranking: N/A
Atleti are on the verge of their first La Liga title win for 18 years and could make it a spectacular double if they beat city-rivals Real in the Champions League final this month. A new stadium is on it’s way for 2016-17.
16. Galatasaray
Current value: $347m
Revenue (2012-13): $204m
Operating loss (2012-13): $4m
Last Year’s Ranking: N/A
Fenerbahce’s nine-point gap with two mathces to play means Galatasaray cannot win the Super Lig this season and they face a battle with Besiktas to seal a Champions League spot. They recently lifted the Turkish Cup.
15. Paris Saint-Germain
Current value: $415m
Revenue (2012-13): $518m
Operating income (2012-13): $147m
Last Year’s Ranking: N/A
The Parisians escaped with a $34m fine for breaching Uefa’s financial fair play regulations. Ligue 1 champions again in 2013-14, they also reached the Champions League last-16 and rake in $340m per season through main sponsors the Qatar Tourism Authority.
14. Internazionale
Current value: $484m
Revenue (2012-13): $219m
Operating loss (2012-13): $40m
Last Year’s Ranking: 14
Indonesian media entrepreneur Erick Thohir paid $473m for a 70% stake in the Serie A giants back in November, but will be in the Europa League next season, provided they can find five points from their remaining two games.
13. Tottenham Hotspur
Current value: $514m
Revenue (2012-13): $224m
Operating income (2012-13): $36m
Last Year’s Ranking: 11
Down two places this year, Spurs have yet again missed out on a top-four spot but will look forward to moving in to their new 58,000-seater stadium by the start of the 2017-18 campaign.
12. Schalke 04
Current value: $580m
Revenue (2012-13): $258m
Operating income (2012-13): $62m
Last Year’s Ranking: 12
Schalke remain in 12th place, but an exclusive pouring rights deal with Coca-Cola kicked in this year and the Gelsenkirchen outfit are currently on the verge of Champions League qualification.
11. Borussia Dortmund
Current value: $600m
Revenue (2012-13): $333m
Operating Income (2012-13): $95m
Last Year’s Ranking: 13
Last season’s run to the Champions League final saw them rake in around $70m and has seen them overtake arch-rivals Schalke 04 in the Forbes rankings.
10. Liverpool
Current value: $691m
Revenue (2012-13): $313m
Operating Income (2012-13): $61m
Last Year’s Ranking: 10
Brendan Rodgers’ men remain in tenth-place for now, though the club coffers are likely to swell over the summer, having sealed their first Champions League finish for five seasons.
9. Juventus
Current value: $850m
Revenue (2012-13): $354m
Operating income (2012-13): $66m
Last Year’s Ranking: 8
The Old Lady recently lifted their third-successive Serie A title, but were knocked out of the Champions League at the group stage, despite racking-up a tournament-high $85m during last season’s run to the quarter-finals.
8. AC Milan
Current value: $856m
Revenue (2012-13): $343m
Operating income (2012-13): $47m
Last Year’s Ranking: 6
Eighth-place Milan will have to endure another season out of the Champions League, while Silvio Berlusconi is reportedly interested in selling his minority stake in order to raise funds for a new stadium.
7. Manchester City
Current value: $863m
Revenue (2012-13): $411m
Operating loss (2012-13): $18m
Last Year’s Ranking: 9
Their impending $85m fine for breaching FFP may hamper their financial progress next season, but City are up two places in 2014 and are on the verge of their second Premier League title in two years.
6. Chelsea
Current value: $868m
Revenue (2012-13): $394m
Operating income (2012-13): $61m
Last Year’s Ranking: 7
This season saw another strong Champions League campaign for the Blues, on the back of signing a new 10-year-deal with Adidas which will see them net $450m.
5. Arsenal
Current value: $1.33b
Revenue (2012-13): $370m
Operating income (2012-13): $38m
Last Year’s Ranking: 4
The Gunners are set to embark upon their 17th consecutive Champions League campaign next season, buoyed by a world-record $51m-a-year kit deal with German sportswear manufacturer Puma.
4. Bayern Munich
Current value: $1.85b
Revenue (2012-13): $561m
Operating income (2012-13): $122m
Last Year’s Ranking: 5
Bundesliga champions for the second-successive campaign, Bayern’s Champions League success last season saw 30,000 people sign up to the club’s membership scheme, which swelled to almost 224,000.
3. Manchester United
Current value: $2.81b
Revenue (2012-13): $551m
Operating income (2012-13): $165m
Last Year’s Ranking: 2
United may be missing out on Champions League income next season, but their shirt-sponsorship deal with Chevrolet kicks in this summer and should see them net around $600m over seven years.
2. Barcelona
Current value: $3.2b
Revenue (2012-13): $627m
Operating income (2012-13): $154m
Last Year’s Ranking: 3
Barcelona are up a place in this year’s rankings, which is probably for the best having recently given the green light to an $800m renovation of the Nou Camp and its grounds.
1. Real Madrid
Current value: $3.44b
Revenue (2012-13): $675m
Operating income (2012-13): $172m
Last Year’s Ranking: 1
The Champions League finalists may have slipped up in La Liga title race, but they remain the richest club, generating more revenue than any other sports team in the world.
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