La Liga giants <a href="https://www.thenationalnews.com/tags/real-madrid/" target="_blank">Real Madrid</a> emerged as the world's highest revenue-generating club for the 2022/23 season, according to the <a href="https://www.thenationalnews.com/sport/football/2023/01/19/man-city-top-deloitte-money-league-for-second-year-in-row-top-20-clubs-in-pictures/" target="_blank">Deloitte Football Money League</a>. Commercial revenue became the largest income stream for teams in the last season. Real recorded an increase in revenue of €118 million over the previous year. The nearly 16 per cent growth was due to strong retail performance, higher stadium attendance and recovery of sponsorship income. The Spanish club overtook Premier League heavyweights and treble winners <a href="https://www.thenationalnews.com/tags/manchester-city/" target="_blank">Manchester City</a> in the money list, with a total revenue of €831m ($907.78m), followed by City (€826m) and Paris Saint-Germain (€802m). While Manchester City came in second spot, the club enjoyed its highest ever revenue for a season, thanks to their <a href="https://www.thenationalnews.com/sport/football/2023/08/10/guardiola-says-man-citys-treble-season-was-once-in-a-lifetime-achievement/" target="_blank">treble-winning campaign </a>in which they won the Premier League, FA Cup and Champions League, which boosted their broadcast and commercial revenues, according to the report. A few Premier League clubs slipped in the rankings. Eintracht Frankfurt, Napoli and Olympique Marseille entered the top 20, edging out Leicester City, Leeds United – who were both relegated last season – and Everton. <a href="https://www.thenationalnews.com/tags/barcelona" target="_blank">Barcelona</a> moved from seventh last year up to fourth, generating €800m, while <a href="https://www.thenationalnews.com/tags/manchester-united/" target="_blank">Manchester United</a> slipped one place to fifth, having made €746m. "A high demand for live sport is pointing towards further growth for commercial and matchday revenues, in particular," said Tim Bridge, lead partner in Deloitte's Sports Business Group. "As clubs appear to no longer be able to rely on exponential broadcast revenue growth, creating a more commercially focused business model will support them to achieve greater control over their financial stability." Seventeen of the top 20 clubs reported a year-on-year increase in commercial revenue, with growth largely attributable to improved retail sales, revenue from non-matchday events and recovery of sponsorship income which had been impacted by the pandemic. 1. Real Madrid: €831 million 2. Manchester City: €826 million 3. Paris Saint-Germain: €802 million 4. Barcelona: €800 million 5. Manchester United: €746 million 6. Bayern Munich: €744 million 7. Liverpool: €683 million 8. Tottenham Hotspur: €631 million 9. Chelsea: €589 million 10. Arsenal: €532 million 11. Juventus: €432 million 12. Borussia Dortmund: €420 million 13. AC Milan: €385 million 14. Inter Milan: €379 million 15. Atletico Madrid: €364 million 16. Eintracht Frankfurt: €293 million 17. Newcastle United: €288 million 18. West Ham United: €275 million 19. Napoli: €267 million 20. Marseille: €258 million