Madrid were beaten to the No 1 podium position in the list by La Liga arch-rivals Barcelona, despite the latter being in debt worth a staggering £1.13bn.
Joan Laporta returned to Barcelona for the second time as club president after the 2021 election, with the Spaniard now attempting to manage his side’s crippling debt.
Wealthy Gorilla in late 2021 compiled data from the likes of CNBC, Business Insider and Sports Show to determine which clubs made the most revenue based on 2020’s annual reports.
All 20 teams came from Europe, with 26-time Spanish champions Barcelona bringing in an eye-watering $959m in revenue.
Madrid finished second thanks to a staggering $864m revenue, while Manchester United and Bayern Munich came third and fourth respectively.
Five Premier League teams finished inside the top 10 and a further four ranked in the top 20, including Newcastle.
A Saudi Arabia-led consortium purchased the Magpies last October from Frasers Group CEO Mike Ashley in a deal worth £300m.
Newcastle narrowly made the top 20 and finished 19th with its $228.6m revenue, but the Premier League club could climb up further in due course under its new owners.
Posted below are the top 20 richest football teams in the world, according to Wealthy Gorilla.
20. West Ham United (England/Premier League): $224.5m
19. Newcastle United (England/Premier League): $228.6m
18. AC Milan (Italy/Serie A): $235.6m
17. Everton (England/Premier League): $241.4m
16. Schalke 04 (Germany/2. Bundesliga): $276.5m
15. AS Roma (Italy/Serie A): $283.6m
14. Inter Milan (Italy/Serie A): $318.5m
13. Atletico Madrid (Spain/La Liga): $345.3m
12. Borussia Dortmund (Germany/Bundesliga): $360m
11. Arsenal (England/Premier League): $497.9m
10. Juventus (Italy/Serie A): $524.5m
9. Chelsea (England/Premier League): $585.3m
8. Tottenham Hotspur (England/Premier League): $594.5m
7. Liverpool (England/Premier League): $689.9m
6. Manchester City (England/Premier League): $696.6m
5. Paris Saint-Germain (France/Ligue 1): $725.5m
4. Bayern Munich (Germany/Bundesliga): $753.1m
3. Manchester United (England/Premier League): $811.7m
2. Real Madrid (Spain/La Liga): $864m
1. Barcelona (Spain/La Liga): $959m
Featured Image Credit: PA