Manchester United have stormed past FC Barcelona and Real Madrid to reclaim top spot in the Deloitte Money League for the first time in over a decade on the back of record revenue for the 2015/16 season of £515.3m.
This haul was enough to see it surge past its Spanish rivals Barcelona and Real Madrid, both of which sat in second and third place respectively with revenues of precisely £463.8m apiece.
The income figures were generated by totaling up matchday revenue, broadcast rights and commercial sources, although player transfer fees are not included.
Dan Jones, partner in the Sports Business Group at Deloitte, said: "Manchester United have had to wait 11 years to regain their position as the world's leading revenue-generating club and it has taken phenomenal commercial revenue growth to help them achieve this.
"In recent years, their ability to secure commercial partnerships with value in excess of that achievable by their peers has been the crucial factor in enabling the club to regain their place at the top of the Money League.
"That said, they'll face strong competition from FC Barcelona and Real Madrid to retain the top spot in next year's edition, due to the lack of Champions League football, the weakening of the pound against the Euro and, over the longer term, as other clubs enter the commercial market demanding similar deals, using United as the precedent."
Deloitte Football Money League
1 +2 Manchester United 515.3
2 = Barcelona 463.8
3 -2 Real Madrid 463.8
4 +1 Bayern Munich 442.7
5 +1 Manchester City 392.6
6 -2 Paris Saint-Germain 389.6
7 = Arsenal 350.4
8 = Chelsea 334.6
9 = Liverpool 302
10 = Juventus 255.1