Barcelona, Manchester United, Bayern Munich and Chelsea make up the rest of the top five spots, based on data for the 2011/12 season.

 

Chelsea's revenues were boosted significantly by winning both the Uefa Champions League and the FA Cup.

 

Manchester City was joint¹ top riser, jumping from twelfth to seventh spot.

 

The club's revenues rose to 286m euros from 170m euros the previous season, thanks to winning the Premier² League and a controversial sponsorship deal.

 

The club has signed a 10-year deal with Etihad Airways³ worth a reported 480m euros. 

 

Etihad is the flag-carrier of the United Arab Emirates (UAE) and is based in Abu Dhabi. Manchester City is owned by Sheikh Mansour, a member of the ruling family of Abu Dhabi, which is one of the emirates that makes up the UAE. 

 

Critics have argued the deal is designed to circumvent⁴ Uefa's financial fair play rules, designed to stop clubs spending more than they earn. The club has refuted the claims.

 

Arsenal⁵ dropped one place to sixth due to Chelsea's success on the pitch, but recorded a 40m-euro jump in revenues.

 

Liverpool held on to ninth spot, with revenues growing by 30m euros despite a disappointing season in the Premier League and a lack of European football for the first time since 1999/2000. This was due in part to two domestic cup final appearances and the new owners focusing on increasing commercial revenues.

 

Italian giants AC Milan and Juventus, which won Serie A, took the other places in the top 10 list.

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