Deloitte Money League: Liverpool slip to 7th, Real top

Liverpool, Manchester United and Manchester City have all slipped down the rankings in the latest Deloitte Football Money League as clubs from continental Europe gained ground.

Liverpool have had the biggest fall of any club in the top 20, from third place down to seventh, after Deloitte found their revenue had dropped slightly from £594.3m [€694.6m] to £593.8m [€694m].

Deloitte attributed that fall to the Reds' on-field performance, with the club finishing fifth in the Premier League last season and bowing out in the Champions League last 16.

Manchester United dropped one place to fifth despite a healthier revenue figure than the season before, while treble winners City were leapfrogged by Real Madrid and now sit second, despite posting a record Premier League revenue figure in their most recent accounts.

The Money League looks at revenue figures reported in clubs' annual accounts for the 2022-23 season and does not look at operating costs.

Tottenham and Chelsea switched places compared to last year, with Spurs up one place to eighth, while Arsenal held on to 10th position.

Real led the way with revenue of £723m [€845m] in 2022-23, demonstrating the club are doing well out of European football's current ecosystem, despite their president Florentino Perez being arguably the most staunch advocate for a Super League.

Paris St Germain enter the top three for the first time, while Barcelona moved up three places to seventh with a revenue figure of £696m [€813.5m].

Tim Bridge, the lead partner in Deloitte's Sports Business Group, said: "There is a point in time, a moment here, where you've got Real Madrid and Barcelona redeveloping their stadiums, they have made moves towards controlling much more of their operations, particularly