The Blancos top Deloitte’s list for a record 12th time, with last year’s leaders Manchester United dropping to third
In the new era where transfer fees of £50 million or more are spent on a regular basis, money is everything in football.
There is no doubt that clubs can buy success in the beautiful game but with the advent of Financial Fair Play, they have to bring in money in order to spend it.
Here are the 20 clubs with the highest revenue in the world, according to the Deloitte Football Money League from the 2017-18 season.
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#20 West Ham United | €197.9m | 2016-17 position: 17th
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#19 Newcastle United | €201.5m | 2016-17 position: N/A
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#18 AC Milan | €207.7m | 2016-17 position: N/A
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#17 Everton | €212.9m | 2016-17 position: 20th
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#16 Schalke | €243.8m | 2016-17 position: 16th
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#15 AS Roma | €250m | 2016-17 position: N/A
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#14 Internazionale | €280.8m | 2016-17 position: 15th
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#13 Atletico Madrid | €304.4m | 2016-17 position: 13th
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#12 Borussia Dortmund | €317.2m | 2016-17 position: 12th
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#11 Juventus | €394.9m | 2016-17 position: 10th
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#10 Tottenham Hotspur | €428.3m | 2016-17 position: 11th
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#9 Arsenal | €439.2m | 2016-17 position: 6th
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#8 Chelsea | €505.7m | 2016-17 position: 8th
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#7 Liverpool | €513.7m | 2016-17 position: 9th
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#6 PSG | €541.7m | 2016-17 position: 7th
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#5 Manchester City | €568.4m | 2016-17 position: 5th
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#4 Bayern Munich | €629.2m | 2016-17 position: 4th
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#3 Manchester United | €666m | 2016-17 position: 1st
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#2 FC Barcelona | €690.4m | 2016-17 position: 3rd
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#1 Real Madrid | €750.9 | 2016-17 position: 2nd