Real Madrid remain top of latest rich list

(CNN) -- Spanish giants Real Madrid have retained their position as the richest football club in the world -- according to an annual survey issued by accountancy firm Deloitte.

English and European champions Manchester United and Spanish league leaders Barcelona remain in second and third places respectively in the latest "Football Money League" report on the world's 20 biggest clubs ranked by revenue.

Despite their lofty position in the list, United, along with the rest of the English Premier League clubs have been affected by sterling's recent fall in the money markets.

"If the exchange rate value of the pound had not depreciated, there would have been nine, rather than seven English clubs in the top 20 and Manchester United would have topped the Money League ahead of Real Madrid," Dan Jones, partner in the Sports business group at Deloitte, told Reuters.com.

The impact of the current economic downturn on club revenues was not measured in the report from the 2007-2008 football season.

Fenerbahce became the first Turkish club to feature in the list, while German champions Bayern Munich climbed three places to fourth, reaching the top five for the first time in five years.

Scottish champions Celtic, Spanish side Valencia and German club Werder Bremen all dropped out of the list which is comprised solely of clubs from Europe.

World's wealthiest football clubs by revenue:

1. Real Madrid (Spain) 365.8m euros
2. Manchester United (England) 324.8m
3. Barcelona (Spain) 308.8m
4. Bayern Munich (Germany) 295.3m
5. Chelsea (England) 268.9m
6. Arsenal (England) 264.4m
7. Liverpool (England) 210.9m
8. AC Milan (Italy) 209.5m
9. Roma (Italy) 175.4m
10. Inter Milan (Italy) 172.9m
11. Juventus (Italy) 167.5m
12. Lyon (France) 155.7m
13. Schalke (Germany) 148.4m
14. Tottenham (England) 145m
15. Hamburg (Germany) 127.9m
16. Marseille (France) 126.8m
17. Newcastle (England) 125.6m
18. Stuttgart (Germany) 111.5m
19. Fenerbahce (Turkey) 111.3m
20. Manchester City (England) 104m