Falling value of pound helps Real Madrid pip Man U in football rich listFebruary 12th, 2009 - 3:10 pm ICT by ANI
London, Feb.12 (ANI): The falling value of the British pound has helped Spanish football club Real Madrid to pip Englands Manchester United to the top of the money league.
Figures released yesterday revealed Real Madrid raking 289.6 million pounds during the 2007/8 season, while Manchester United came close with earnings of 257.1 million pounds. This statistic, however, does not take anything away from Manchester Uniteds dominance of English football, both on and off the pitch. Wednesdays financial survey shows that the club has enjoyed a 45 million pound leap in year-on-year income, thanks largely to last seasons Premier League and Champions League double.
Uniteds turnover grew by 21 per cent in the 2007-08 season.
This makes United by far the highest-earning club in Britain, ahead of Chelsea (212.9 million pounds), Arsenal (209.3 million pounds) and Liverpool (167 million pounds).
The figures are revealed in the latest Football Money League report by Deloitte, in a survey that shows Real Madrid remain the worlds richest club in terms of revenue, ahead of United in second, then Barcelona, Bayern Munich and Chelsea.
Only a drastic slump in the value of sterling has prevented United from reclaiming the title of worlds richest club from Real. Real Madrids income for 2007-08 rose a relatively modest four per cent when converted at the June 2008 exchange rate of 1 pound = 1.2632 euros. Uniteds income at the same rate equated to 324.8m euros.
But sterling has crashed significantly, and if Deloitte had used the same exchange rate as in their previous report (1 pound = 1.4856 euros, from June 2007), Uniteds latest income would have been 381.9m euros against Reals 365.8m euros. (ANI)
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