The Deloitte Football Money League rank clubs based on their financial performances in terms of revenue-generation within a season.
This year ranking is the performance of each club from the 2019-2020 season despite the disruption from Covid-19.
Barcelona top the list as the club with the highest revenue generated within the season.
La Liga holders, Real Madrid, is second on the chart, while Champions League winner, Bayern Munich, are third on the list.
Manchester United in fourth as the Premier League champions Liverpool is fifth in the chart.
Deloitte observed that the on the pitch success of Liverpool had pushed them up from seventh position in 2018-2019, to placing them in the top five for the first time since the 2001-2002 season.
Speaking to Sky Sports News, Tim Bridge, director of Deloitte Sports Business Group, said moving towards a “digital model” had helped Liverpool place fifth – on top of their Premier League success.
He added: “The on-pitch success is a massive factor. Building on winning the Champions League and then taking the Premier League crown for the first time has had a significant impact. They have moved significantly towards a more digital model, and have been doing for a number of years.
“That has benefited them in comparison to others during the pandemic, because they are able to engage with their fans in a way others probably had to pay catch-up.”
Manchester City are sixth on the list, with Tottenham,Premier League club, are ninth on the list.
Arsenal is ranked eleventh with Everton on seventeenth, ranking them among the top 20.
In summary, all the top 20 clubs saw a decline in revenue by 12 per cent compared to 2018-2019 as results of drop in broadcast and matchday revenues.
Bridge explained that the rankings may have been different if the timings of fixtures had worked out differently.
“But with those placings, take a little bit of care because with the timings of the fixtures they were able to generate more revenue ahead of Manchester City.
“Had timings been a little bit different, those rankings may have been different.” – said Bridge
On the revenue decline for Man Utd, Bridge stated that not playing in the Champions League has an impact on their revenue.
Bridge said: “The reason for the decrease is predominantly driven by the pandemic, as you can imagine Manchester United with a huge fan-base generate significant amounts of revenue every time they play at Old Trafford.
“They are going to be impacted in a more significant way than many other clubs. Of course, last year they didn’t have Champions League football either, so the revenue differential from competing in the Europa League compared to the Champions League had a significant impact on the numbers.
“But caution is needed. With Bayern Munich moving ahead of them, they were able to complete their domestic season in the time-frame, so the numbers for Bayern represent a full year of domestic football, whereas for United they are curtailed.”
Adversely, Everton saw an increased revenue compared to other ranked clubs among the top 20, but Bridge explained that their long-term partnerships is the driving factor.
Bridge’s statement: “For anybody who has seen Everton’s plans around the new stadium, and the investment into the playing squad, they’ve got an ambitious owner who’s looking to take strides forward,”
“When a new owner comes in we talk about an investment cycle, and often it requires significant investment on the pitch in order to then drive future commercial revenues, and what Everton have been able to do is secure some long-term partnerships.
“A new shirt sponsorship with Cazoo and the deal with Hummel, but there is a significant deal within their commercial portfolio in respect of the future naming rights of their stadium with USM. That is the driving factor behind the commercial increase.”