Net profits

The National takes a look at the finances of football clubs.

Real Madrid

Country Spain

Earnings €438.6 million

Los Blancos have headed Deloitte's rankings for six straight years and there is no sign the club will relinquish the top spot. The biggest driver is a broadcasting contact worth more than €150m (Dh800.2m) a year, more than the total revenue of many of the top clubs.

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FC Barcelona

Country Spain

Earnings €398.1m

The team's success on the pitch translates into consistent global revenue. A five-year broadcasting contract signed last year bolsters the bottom line. The biggest boost was a €165m, five-year deal with Qatar Sports Investments to put the Qatar Foundation name on Barca's shirts, believed to be the largest such deal in the business.

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Manchester United

Country England

Earnings €349.8m

The Premier League's most successful economic franchise has struggled to increase its revenue from ticket sales, but winning on the pitch continues to boost revenues. Man Utd is a commercial machine with deals in place for promotions with Turkish Airlines, Betfair, Singha and Thomas Cook, in addition to a shirt deal with Aon that went into effect last year.

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Bayern Munich

Country Germany

Earnings €323m

The top German club is facing a drop in the rankings after a disappointing 2010-11 season. Its broadcast revenue does not come close to the top European teams, due to a limited German pay-per-view market. But its commercial deals are among the highest in Europe and its bottom line is aided by the ability to consistently sell out Allianz Arena.

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Arsenal

Country England

Earnings €274.1m

The club lost two of its top players this season in Cesc Fabregas and Samir Nasri to wealthier clubs, as the team struggles to keep pace with its economic rivals. Long-terms deals with Emirates Airlines for both stadium-naming rights and shirt sponsorship limit growth opportunities. The club earned £157m (Dh945.3m) from property development in 2009-10, but that figure will drop now that the Highbury development is almost completely sold.

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Chelsea

Country England

Earnings €255.9m

Success on the pitch should help revenue growth. Commercial deals are a strength, including a long-term shirt deal with Samsung. But match revenue is hampered by small stadium capacity (41,422).

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AC Milan

Country Italy

Earnings €235.8m

The club has benefited from a lucrative broadcast deal, but revenue distribution among Italian clubs hampers growth. Declines in league attendances also hurt the bottom line.

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Liverpool

Country England

Earnings €225.3m

Troubles on the pitch have hurt the club's potential, as well as turnover in the owner's booth. The key to revenue growth is a new stadium, which has been discussed for nine years.

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Internazionale

Country Italy

Earnings €224.8m

Ranking was bolstered by success in the Champions League last year, but is likely to fall after disappointing domestic results. Match day and commercial revenues are below the top teams.

Source: Deloitte's European football rich list