Real Madrid tops moneymaking clubs 2008
Updated: February 12, 2009, 5:29 AM EST Comment LONDON (AP) - Real Madrid remains the top moneymaking soccer team in the world, beating out European and English champion Manchester United due to the plunging pound, according to the latest review of the sport's finances.
Deloitte's study, which ranks the 20 biggest clubs based on revenue, showed that Madrid generated 365.8 million euros ($471.9 million) in the 12 months to June 30, 2008.
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Now at Fox Soccer Shop The Red Devils would have ended their double-winning season topping the Football Money League if the pound had not depreciated against the euro. Had the pound stayed steady at the June 2007 rate, United's revenue of 257.1 million pounds would have equated to 382 million euros rather 324.8 million euros by last June.
"Whilst Real Madrid's four percent revenue growth in 2007-08 is more modest than recent years, the club has now doubled its revenues since 2002 and enjoys a lead of 41 million euros over Manchester United," said Dan Jones of Deloitte's sports business group. "With the club having announced that it is budgeting for revenues of 400 million euros in 2008-09, it will be difficult for rivals to replace Real at the top of the Money League next year."
Despite a 31st La Liga title, Madrid's commercial revenue dropped five percent. It is blamed on lower shirt sponsorship income following the bankruptcy of BenQ Mobile and loss of star midfielder David Beckham to the Los Angeles Galaxy in the 2007 offseason.
"It will be interesting to see how the club copes with the loss of the Brand Beckham effect and the challenging commercial market that clubs are now facing," the report said.
Deloitte only used revenue as its ranking and not the wealth of individual club owners, including Chelsea's Russian billionaire Roman Abramovich.
Spanish league leader Barcelona received a boost, ad did Madrid, by individually negotiated broadcast contracts in place until 2013-14, and is third with revenue of 308.8 million euros.
"The fact that if today's exchange rates were applied United would have finished below Barcelona, emphasizes the impact that exchange rate movements have had on English clubs' relative ranking in this year's list," Jones said. "Aston Villa, Everton and West Ham United can all consider themselves unlucky to have missed out on a top 20 place."
But the league, which only contains European clubs, was still dominated by the English with seven sides, compared to six the previous year.
Germany's Bayern Munich is fourth with revenue of 295.3 million euros, followed by English clubs Chelsea and Arsenal, while Italy's AC Milan, AS Roma, Inter Milan and Juventus occupy the next spots.
Driven largely by its successful participation in the Champions League, 19th-placed Fenerbahce is the first Turkish club to make the list since the league was created after the 1996-97 season. Only six clubs in the top 20 did not participate in Europe's lucrative competition.
Deloitte was investigating a period before the economic downturn took hold, but its analysts believe the strength of broadcast controls will provide a stable revenue stream in the coming years.
While Deloitte concludes that soccer will be resistant, not immune, to the financial meltdown, it warns club owners that they will struggle to secure credit and invest in stadiums - problems affecting Liverpool.