Man United have retained their position as world football’s top earners, according to the latest annual “Money League” report by accountancy firm Deloitte.

Man United made £581million during the 2016-17 season, pipping Real Madrid to the top spot by just £1.5million, the closest margin in the rich list’s 21 years.

It is the 10th time the Old Trafford club have topped the Deloitte list, with their Europa League success being crucial to holding off Real, whose 12th Champions League win helped them swap places with Spanish rivals Barcelona.

Bundesliga giants Bayern Munich held onto the fourth spot and Manchester City stayed in fifth place with revenues of £454million. Arsenal climbed to sixth, swapping places with Paris St Germain, and Chelsea, Liverpool, and Juventus keep their places to round out the top 10.

In a statement, Deloitte Sports Business Group partner Dan Jones said: “Man United ‘s ability to retain the first position is all the more impressive against the backdrop of the weakened pound against the euro.

“With both Real Madrid and Barcelona forecasting further revenue growth in 2017-18, the battle at the top will likely come down to on-pitch performance again next year.

“With all three clubs through to the round of 16 of the Champions League, it may be as simple as the club that goes furthest in the competition will have the best chance of topping the Money League next year.”