Real Madrid remained on top of the world's richest clubs list which was announced by sports business firm ‘Deloitte'. The Spanish giants once again beat Manchester United to the list's summit, and Deloitte experts confirmed that the fall of the Sterling Pound against the Euro played a major role in keeping United second richest. "If the exchange rate value of the pound had not depreciated, Manchester United would have topped the Money League ahead of Real Madrid," said Dan Jones, partner at Deloitte. "There also would have been nine, rather than seven English clubs in the top 20." While Fenerbahce became the first Turkish club to enter the list, Glasgow Celtic, Werder Bremen and Valencia were the major absentees from this year's directory. Manchester City made the list at 20th position, after the rise of their broadcasting revenues prior to the club's takeover by Abu Dhabi group in the summer. Crisis Resistance Despite the global financial turmoil, figures showed that both Real's and United's revenues have increased throughout 2008. "The unique nature of the football industry will enable major clubs to be relatively resistant to the economic downturn," said Deloitte's director Paul Rawnsley. While United registered a 21% rise in their revenues from 2007, Real's income increased by 4%. A list of the world's top 20 richest clubs: 1. Real Madrid, Spain, €365.8 million 2. Manchester United, England, €324.8 million. 3. Barcelona, Spain, €308.8 million. 4. Bayern Munich, Germany, €295.3 million. 5. Chelsea, England, €268.9 million.
European champions United are 2nd in the list 6. Arsenal, England, €264.4 million. 7. Liverpool, England, €210.9 million. 8. AC Milan, Italy, €209.5 million. 9. AS Roma, Italy, €175.4 million. 10. Inter Milan, Italy, €172.9 million. 11. Juventus, Italy, €167.5 million. 12. Lyon, France, €155.7 million. 13. Schalke, Germany, €148.4 million. 14. Tottenham, England, €145 million. 15. Hamburg, Germany, 127.9 million. 16. Marseille, France, €126.8 million. 17. Newcastle, England, €125.6 million. 18. Stuttgart, Germany, €111.5 million. 19. Fenerbahce, Turkey, €111.3 million. 20. Manchester City, England, €104 million.
