Real Madrid, June 07: Real Madrid have replaced Manchester United as the world’s richest club, says a survey of club finances carried out by World Soccer magazine. Madrid, with an annual income of $300.5 million have a greater revenue than any United according to the figures for 2001-02 when they won the Champions League, and could easily afford to buy David Beckham from their rivals.

Manchester United are second on the list with an income of $247.2 million. Newly-crowned European champions AC Milan come in fifth.
Only one other Spanish club, Barcelona, features in the top 20, which is made up of eight clubs from England, five from Italy, three from Germany and two from Scotland and Spain. The research demanded the clubs to disclose financial information before reaching the conclusion.
Top 20 richest clubs: 1. Real Madrid; 2. Manchester United; 3. 3. Juventus; 4. Bayern Munich; 5. AC Milan; 6. Chelsea; 7. Barcelona; 8. AS Roma; 9. Liverpool; 10. Arsenal; 11. Inter Milan; 12. Leeds United; 13. Lazio; 14. Borussia Dortmund; 15. Newcastle United; 16. Tottenham Hotspur; 17. Bayer Leverkusen; 18. Celtic; 19. Aston Villa; 20. Rangers. Bureau Report