Man Utd and Arsenal are both in the top five of the new Deloitte Football Money League
Barclays Premier League clubs have taken six of the top 12 places in the Deloitte Football Money League for season 2010-11.
The list ranks the world's top 20 clubs by revenue generation, based on the latest available financial information, relating to the 2010-11 campaign.
Manchester United remain the highest-placed Barclays Premier League club in third, behind Spanish teams Real Madrid and Barcelona, with Arsenal keeping fifth place.
"To have six clubs in the top 12 earners sets the Premier League out against the Spanish, Italian, German and French leagues"
- Richard Scudamore
Chelsea stay sixth, Liverpool move down one place to ninth and Tottenham Hotspur (11th) and Manchester City (12th) swap places from the 2009-10 list.
The Barclays Premier League retains the highest representation of clubs in the Money League with the other 14 clubs coming from other European leagues - Italy (five), Germany (four), Spain (three) and France (two).
Premier League Chief Executive Richard Scudamore said: "The Deloitte Money League is purely a measure of European clubs’ revenues, but it clearly demonstrates the strength in depth of the Premier League's collective distribution model.
"To have six clubs in the top 12 earners sets the Premier League out against the Spanish, Italian, German and French leagues.
"This commitment to an equitable revenue split creates a competitive and compelling domestic league that redistributes significant amounts in good cause and solidarity payments, while allowing our top clubs to challenge in European competition."
Dan Jones, Partner in the Sports Business Group at Deloitte said: "Continued growth of the top 20 clubs during 2010-11 emphasises the strength of football's top clubs, especially in these tough economic times.
He added: "While revenue growth has slowed from 8% in 2009-10 to 3% in 2010-11, their large and loyal supporter bases, ability to drive strong broadcast audiences and continuing attraction to corporate partners has made them relatively resilient to the economic downturn."
A further five Barclays Premier League clubs - Aston Villa, Newcastle United, Everton, West Ham (who were relegated) and Sunderland finished just outside the top 20.
Top 20 clubs in 2010-11 Deloitte Football Money League
1. Real Madrid (£433m)
2. FC Barcelona (£407m)
3. Manchester United (£331.4m)
4. Bayern Munich (£290.3m)
5. Arsenal (£226.8m)
6. Chelsea (£225.6m)
7. AC Milan (£212.3m)
8. Internazionale (£190.9m)
9. Liverpool (£183.6m)
10. Schalke 04 (£182.8m)
11. Tottenham Hotspur (£163.5m)
12. Manchester City (£153.2m)
13. Juventus (£139m)
14. Olympique de Marseille (£135.8m)
15. AS Roma (£129.6m)
16. Borussia Dortmund (£125.1m)
17. Olympique Lyonnais (£119.9m)
18. Hamburger SV (£116.3m)
19. Valencia (£105.5m)
20. Napoli (£103.8m)
