Real Madrid have climbed to the top of football's 'Money League' as the Spanish side surpassed Manchester City to become the highest revenue generating club in 2022-23. For the first time since 2017-18, Real are in pole positon in Deloitte's financial rankings with a reported record revenue of 831 million euros ($905 million), an increase of 118 million euros over the previous year. Although they failed to win La Liga last season -- finishing 10 points behind champions Barcelona -- and lost in the Champions League semi-finals to Manchester City, Real's growth is largely attributable to strong retail performance, higher stadium attendance and recovery of sponsorship income following the easing of Covid-19 restrictions.