Real Madrid have replaced Manchester United as the wealthiest football club in the world, according to the latest Deloitte Football Money League.
La Liga rivals Barcelona have jumped up into second, while United have slipped to third.
Bundesliga champions Bayern Munich are in fourth, ahead of Manchester City.
Paris Saint-Germain are sixth, followed by Premier League leaders Liverpool.
Chelsea, Arsenal and Spurs make up the top 10, which is dominated by English clubs.
Dan Jones, head of the Sports Business Group at Deloitte, said: "Real Madrid's outstanding financial performance in 2017/18 is built on their long history of success on the pitch, most recently three consecutive Champions League titles.
"This has enabled the club to continue to drive commercial revenue as the appetite to partner with Europe's most successful clubs remains stronger than ever."Premier League clubs actually make up 13 of the top 30 to prove the point that the English league is certainly the most lucrative.
However, Deloitte has warned that the lack of substantial increases for the next broadcast cycle suggests the “big five” leagues may narrow that gap in the coming years.
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Sam Boor, a senior manager at Deloitte, said: “The substantial presence of Premier League clubs continues to be felt in this year’s money league. However, with the Premier League’s tender for the next cycle of domestic rights from 2019-20 complete and sale of overseas rights nearing conclusion, it is clear that Premier League clubs will be unable to rely on explosive growth in broadcast distributions as a source of future growth, as has been the case in recent years.”