The "virtuous link" between a football club’s on-field performance and its ability to generate revenues "has shaken up the annual list of the world’s richest football teams," with the strongest performers in Europe’s top club competition rising up the rankings, according to Murad Ahmed of the FINANCIAL TIMES. Real Madrid is the world’s highest-earning club, according to Deloitte’s money league report, returning to the top spot for the first time in three years. Last season, the Spanish side won its third successive Champions League, helping it "gain more in broadcasting income and commercial deals." The club earned revenues of €750.9M in '17-18, ahead of reigning La Liga champion Barcelona, which earned €690.4M over the same period. The Spanish clubs have overtaken ManU, which had "enjoyed two straight seasons at the top of the Deloitte rankings." ManU "has remained a formidable marketing machine, able to exploit its global fan base to generate sponsorship deals to keep it financially ahead of rivals." Last season, it earned €666M in revenues, more than a third of which were from commercial contracts. Deloitte sport business group partner Dan Jones said that Real Madrid "had successfully exploited its recent European victories to improve its own sponsorship deals" to overtake ManU, gaining a €54.8M uplift in commercial revenues last season. Jones: "From a sponsor's point of view, Real Madrid has a great historic brand, but that brand needs to be fed by continued success. It is no doubt helped by winning three Champions Leagues." Liverpool achieved the largest revenue increase among the 10 richest clubs following its run to the Champions League final last season. The English club increased revenues from €424.2M in '16-17, when it did not participate in the Champions League, to €513.7M in '17-18 (FT, 1/23).
