European club revenues grow even during a crisis (top ten highest-earning clubs) © EuroFootball.com

"Real Madrid" remains the highest-earning club in the world.

The Spanish champions collected 512.6 million euros in the 2011-2012 season and topped the list for the eighth consecutive time by audit and financial consulting company "Deloitte". Interestingly, the revenues exceeded half a billion euros for the first time in history.

In second place is another Spanish team, "Barcelona" (483 million), followed by England's vice-champions "Man Utd" (395.9 million).

The total revenues of the top twenty clubs increased by a tenth to reach 4.8 billion euros.

"This proves how people love their teams, even in the midst of an economic crisis," said Dan Jones, a representative of "Deloitte". "Top-level sport has practically not felt the effects of the recession, especially when it comes to broadcasting and commercial rights. The results are truly impressive."

The biggest growth is enjoyed by the English champions "Man City", whose revenues increased by 51% from 169.6 to 285.6 million euros. This was due to their triumph in the Premier League, but most notably - a lucrative sponsorship deal with "Etihad Airways".

Of the top twenty clubs, only five countries are represented: seven from England ("Man Utd", "Chelsea", "Arsenal", "Man City", "Liverpool", "Tottenham", and "Newcastle"), five from Italy ("Milan", "Juventus", "Inter", "Napoli", "Roma"), four from Germany ("Bayern", "Borussia", "Schalke", "Hamburg"), two from Spain ("Real" and "Barcelona"), and two from France ("Marseille", "Lyon").

Closest to this list is Portugal's representative Lisbon's "Benfica" (22nd place, 111.1 million euros), while among other continents, Brazil's "Corinthians" leads (31st place, 94.1 million euros).

Top ten highest-earning clubs: (place, team, country, revenues in million euros)

  1. Madrid "Real" (Spain) 512.6
  2. "Barcelona" (Spain) 483
  3. "Man Utd" (England) 395.9
  4. Munich "Bayern" (Germany) 368.4
  5. London "Chelsea" (England) 322.6
  6. London "Arsenal" (England) 290.3
  7. "Man City" (England) 285.6
  8. "Milan" (Italy) 256.9
  9. "Liverpool" (England) 233.2
  10. Turin "Juventus" (Italy) 195.4