MANCHESTER United have retained their position as the world's richest club - in terms of income - for the 2003-04 season, but Real Madrid, Chelsea and Arsenal have closed the gap.
But United, Chelsea and Arsenal have the potential to become the world's three richest clubs in two years' time - ahead of even Real Madrid, a report has revealed.
United have retained their position at the head of the Deloitte Football Money League for the eighth year in a row, with an annual income of '172million for the 2003-04 season.
While second-placed Real closed the gap, with an income of '156.3 million, and AC Milan are in third spot, Chelsea have climbed from 10th place to fourth in the space of just 12 months, on '143.7 million.
Arsenal, meanwhile, are also on the up, with the opening of their new 60,000-capacity Emirates stadium in the summer of 2006 set to revolutionise their income levels thereafter.
The report concluded: 'With Chelsea's success and Arsenal's new Emirates stadium development, we can foresee a scenario where English clubs fill the top three places in the 2006-07 money league.'
Significant
United continue to lead the way, with the report concluding they 'are likely to remain the club to beat in future money leagues', with a significant lead over their nearest rivals.
But Chelsea could yet overtake them, especially after concluding an eight-year kit deal worth '100million with adidas, while a lucrative sponsorship agreement is also just around the corner.
Their income for last season increased dramatically by 62% from '93.1 million in 2002-03, and that was even before their significant progress on the pitch this season.
The report added: 'Having devoured two-thirds of Manchester United's revenue lead in one season, Chelsea will not think that future overall leadership is beyond them.'
Progress has come at a huge price, with the club having just reported a pre-tax loss of '88million for last year - the biggest in English football history - after spending '175million on new players and doubling the wage bill to '115million.
However, this latest league table is based on income, with Chelsea's finances having been underpinned by the multi-million pound fortune of owner Roman Abramovich.
This is the top 20 in the Deloitte Football Money League (2002-03 position in brackets):
1 (1) Manchester United - '171.5 million
2 (4) Real Madrid - '156.3 million
3 (3) AC Milan - '147.2 million
4 (10) Chelsea - '143.7 million
5 (2) Juventus - '142.4 million
6 (7) Arsenal - '115.0 million
7 (13) Barcelona - '112.0 million
8 (6) Inter Milan - '110.3 million
9 (5) Bayern Munich - '110.1 million
10 (8) Liverpool - '92.3 million
11 (9) Newcastle United - '90.5 million
12 (11) Roma - '72.0 million
13 (18) Celtic - '69.0 million
14 (16) Tottenham - '66.3 million
15 (15) Lazio - '65.8 million
16 (-) Manchester City - '61.9 million
17 (14) Schalke - '60.5 million
18 (-) Marseille - '58.3 million
19 (-) Rangers - '57.1 million
20 (-) Aston Villa - '55.9 million
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Profit is Sanity.........Turnover is Vanity.
Something that I've been saying for a while, that the EPL is the number 1 league. As chelski have shown having money can bring success. I still beleive that to win the CL we have to beat arsenal and chelski and as we've seen we're capable of doing that, that's why I think we can beat Milan. I also think that Rafa will make liverpool a competitive team for next season and maybe even this one. There's still an inferiority complex from many fans in this country which is a hangover from the barren years when we were banned from Europe, but before that ban English teams were dominating Europe and hopefully we are not far off returning to that situation with us at the top of the pile. Fortune and Glory!
Great. We get told this all the time, BUT with all the income, we have no money to spend in the transfer market this season, due to Rooney's fee being paid out this summer. We need to find Keane's replacement, soon.
Does anybody know if Chelsea's income is supplemented by revenue from the Chelsea Village hotel bollox they have?
Chelsea close the gap! Don't make me laugh. You're "rich" only if your income far exceeds your outgoings. Where we continue to be operated on a sensible basis Chelsea are living on the 'never never' subsidised by loans from Abramovich. If his wealth is tied up in Russia, he could find a few shocks on the way as Putin continues to make the so-called 'oligarchs' accountable (look at Berzovsky and Khodorkovsky). Let's judge the relative financial merits of Chelsea v United in 5 years.
This can only be good news to the overgrown leprechaun,and bad news for us.
Ted the Red...grow up!
Chelsea will have overtaken us within 3 years. Stop making yourself look foolish!!!
"ChelseaB4s income"? There is no chelsea anymore! Its just Abramovitch PLC and nothing more. They are going to become a firm like DELL or even CocAcola... forget about chelski...
Actually "Realist", Ted has made perfectly-argued and knowledge-filled comments. If you are going to disagree, I think you would need to do better than "grow up" if you want us to take you seriously.