Manchester United has retained the title of the richest soccer club in the world for the fourth year running with a turnover of £117 million sterling, say accountants Deloitte and Touche.
United and Real Madrid, which replaced Bayern Munich in second place, were the only two clubs to generate over £100 million, in a top 20 with a combined income of £1.376 billion - an increase of 31 per cent on last year.
Television income is now the main source of revenue, boosting in particular the Italian presence in the list. Seven Italian clubs made the top 20 led by AC Milan in fourth place with turnover of £89.7 million.
Seven English clubs were included in the top 20 - Chelsea, Arsenal, Leeds United, Tottenham Hotspur, Liverpool and Newcastle United, as well as Manchester United. But most of their rankings slipped, with the exception of Leeds, who climbed to 13th from 17th after a 54 per cent surge in turnover.
Celtic came 25th in the list.
Stadium development was a key factor in English clubs' supremacy and the position of the Premier League would advance further after next season, when television deals are taken into account, the report said.
"English stadia are far superior to European municipally owned facilites and South America's crumbling revenues. Germany and Portugal, however, are hosting major tournaments which will spur stadium development," said Deloitte and Touche Sport's Mr Gerry Boon in a statement on Friday.
The highest-ranked non-European club was Argentina's Boca Juniors in 31st place with a turnover of £33.2 million.