Manchester United have dropped out of the top three highest earning clubs in football's rich list for the first time, after being overtaken by European champions Bayern Munich.
Real Madrid and Barcelona continue to lead the way in the 2013 Deloitte Football Money League, published on Thursday, while Manchester City move up to sixth, climbing above both Chelsea and Arsenal.
The Premier League continues to consolidate its position as the dominant financial force in world football, with six teams in the top 20 (Manchester United, Manchester City, Arsenal, Chelsea, Tottenham and Liverpool), compared to four from Germany and Italy, three from Spain and one from France.