Manchester United has retained its position as the richest football club in the world - despite no increase in their turnover, according to the second Deloitte & Touche/FourFourTwo magazine rich list. But the position of United, who won the Inter Continental cup this week (above), looks to be under threat from the large TV deals secured by big Italian and Spanish clubs. With a turnover of #87.9m in the 1997/98 season United was 20% ahead of its nearest rivals, Spanish giants Real Madrid, whose revenues totalled #72.2m. Overall, England topped the rich list, providing eight of the richest 20 clubs. Glasgow Rangers came in at number 16 with a turnover of #32.5m. The survey ranked clubs according to turnover, judging that a club's wealth is reflected by its ability to generate income. But the income of top clubs is likely to be overhauled over the next few years. 'Television income is having a huge impact on the fortune of today's top clubs,' said Gerry Boon, partner in charge of the Deloitte & Touche Football Industry Team. 'Real Madrid have negotiated a massive deal for live match coverage to cover the seasons 2003 to 2008, which could see them challenging United for the top spot.'
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