New York-listed soccer club Manchester United PLC (NYSE:MANU) have been named as the richest soccer club in the world, knocking Spanish giants Real Madrid off of the top spot for the first time in 11 years.
The Red Devils recorded revenues of around €689mln (US$731mln) in the 2015-16 season thanks to the impact of several new commercial deals as well as their participation in the lucrative European Champions League.
United’s rise to the top comes after its US$70mln-a-year sponsorship contract with Chevrolet kicked in, as did their US$90mln-a-year deal with kit supplier Adidas.
The Old Trafford-based outfit also has money-spinning deals with the likes of 20th Century Fox, DHL, Aon and even Yanmar, its official tractor partner.
Spanish soccer stalwarts Real Madrid and Barcelona share second spot with revenues of €620mln (US$657mln). German club Bayern Munich and United’s neighbours Manchester City round out the top five.
Man United flexed their financial muscle in the transfer market last summer, when they broker the world record to re-sign Juventus’ French central midfielder Paul Pogba.
Shares were flat at US$15.80 on Thursday morning.