David Beckham's commercial value has helped Real Madrid to overtake Manchester United as the wealthiest club in the world, according to the authors of a new 'rich list'.

Of the world's 20 richest clubs, 8 are English, 5 are Italian, 3 are Spanish, 2 are German, 1 is Scottish and 1 is French.


Rich List Key Findings




-- Real Madrid shot ahead of the competition with total revenue of £186.2m. Manchester United had lead the list in each of the previous eight editions of the Deloitte Football Money League

-- In the next few seasons, Chelsea, Arsenal, AC Milan, Juventus and Barcelona are expected to challenge for a top three position

-- Developments in the German and French markets may see more representatives from these countries in future editions of the Football Money League


The Deloitte Football Money League shows that Real have soared into the lead, earning £186.2m - £20m more than Manchester United - in 2004-05.

By comparison, United, which had topped the list for the previous eight years, saw their earnings drop from £171.5m to £166.4m after a couple of relatively poor seasons.

Dan Jones, partner in the sports business group at Deloitte, said Real had benefited hugely from expanding their commercial activities - and that Beckham's presence in the team alongside other star names had helped, despite the club failing to win silverware.

He told the Press Association: "It's startling how successful Madrid, and to some extent Barcelona, have been in growing revenue, and over the last two years it has been about commercial growth and merchandising rather than match day and broadcasting revenue.

"Beckham has been a major factor in that. You can't put a figure on his impact, but there is no doubt having big-name players makes an impact and he's the most famous footballer in the world.''

United are followed by AC Milan (£158m) and Juventus (£154.9m) in the list, both clubs having benefited by huge recent broadcasting deals, while Chelsea (£149.1m) have slipped a place to fifth.

Arsenal (£115.7m) have dropped from sixth to 10th place after failing to match their fabulous unbeaten season of 2003-04, while Liverpool's Champions League success saw the Reds rise from 10th to eighth, earning £122.4m.

Jones believes that Arsenal and Chelsea will both be in a position to challenge for a top three spot, along with AC Milan, Juventus and Barcelona.

He added: "The key to Arsenal's fortunes is moving to the new stadium next season and that will make a huge amount of difference. It should transform their revenue stream.

"Chelsea play by a different set of rules due to their funding, but it's a free market and the issue is whether it's sustainable in the long term, which is why they are working so hard on the aspiration to break even on their day-to-day operations.''

Jones warned, however, that United should not be written off.

He added: "It would be foolish to write their obituary. United may have slipped off the top, but it's worth remembering that they are still the most profitable club in the world.

"They will have an extra 7,500 seats in their ground from next season, which will bring in more money, and if they can improve on the pitch they should have good revenue growth for the next two or three years.''


The list is entirely made up of European clubs, with English clubs occupying eight of the positions, Italian clubs five, three clubs from Spain, two from Germany, Celtic (£62.6m) from Scotland in 16th place and Lyon from France in 15th.

Newcastle (£87.1m) are 12th in the list, Tottenham (£70.6m) 13th, Manchester City (£60.9m) in 17th and Everton (£60m) 18th.


Top 10 Richest Clubs




1 (2) Real Madrid £186.2m
2 (1) Man Utd £166.4m
3 (3) AC Milan £158m
4 (5) Juventus £154.9m
5 (4) Chelsea £149.1m
6 (7) Barcelona £140.4m
7 (9) Bayern Munich £128m
8 (10) Liverpool £122.4m
9 (8) Inter Milan £119.7m
10 (6) Arsenal £115.7m

Source: Deloitte

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Anybody watch the movie 'Bend it like Beckham'?