Man Utd, Liverpool and Man City all fall places in top 10 list of highest money-generating football clubs
Manchester United, Liverpool and Man City have all dropped places in the latest results in Deloitte’s Football Money League.
The finance firm crunch all the numbers to look at the revenues generated by the leading clubs in world football.
But while all of the Premier League's big six feature, half have slid down the rankings as sides from other leagues move up.
Liverpool, who finished fifth last season, experienced the biggest decrease of all those in the top 20 - going from third to seventh.
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Their revenue fell ever so slightly from £594.3 million to £593.8 million after failing to secure Champions League football last term.
Manchester United find themselves in fifth position even though their revenue of £648.5 million is better off this time around.
And City, interestingly, have dropped one place from first to second despite a record Premier League revenue of £718.2 million.
Real Madrid are at the very top with £723 million, while Spurs, Chelsea and Arsenal make up the final three.
PSG have climbed up to third, with Barcelona following in fourth despite their financial struggles.
Here is the list in full:
1.Real Madrid - £723 million
2.Manchester City - £718.2 million
3.PSG - £697.2 million
4.Barcelona - £695.8 million
5.Manchester United - £648.5 million
6..Bayern Munich - £647 million
7.Liverpool - £593.8 million
8.Spurs - £549.2 million
9.Chelsea - £549.2 million
10.Arsenal - £463.1 million
Tim Bridge, lead partner in Deloitte's Sports Business Group, said: "There is a point in time, a moment here, where you've got Real Madrid and Barcelona redeveloping their stadiums, they have made moves towards controlling much more of their operations, particularly merchandising and licensing, so those revenue figures are a result of direct changes they have made to their business model.
"When we look at the Premier League holistically we're not 100 per cent certain the days of significant domestic growth in media rights is over, but what we can say is, without significant competition coming into that market, then single-figure percentage growth is the likely outcome in that domestic market.
"Therefore the focus is on what can be done in the international market.
"What has always underpinned the fact there have been 10 or 11 Premier League clubs in the Money League has been that the media rights growth has given them significant distributions. Other leagues have caught up and there has been a slight plateauing of Premier League rights.”
Josh Lawless