Footbal Rich List

[ian1964 10,720]

by Matthew Lindsay

 

A TOP financial expert today told the Old Firm that there is no embarrassment in falling off the football rich list.

 

Neither of the Glasgow giants feature in the annual Football Money League published this week by business advisory firm Deloitte.

 

Deloitte rich list for 2007/08 revenue

(previous position in brackets)

 

1 (1) Real Madrid �£289.6m

2 (2) Man United 257.1

3 (3) Barcelona 244.4

4 (7) B Munich 233.8

5 (4) Chelsea 212.9

6 (5) Arsenal 209.3

7 (8) Liverpool 167.0

8 (6) AC Milan 165.8

9 (11) AS Roma 138.9

10 (9) Inter 136.9

11 (12) Juventus 132.6

12 (13) O Lyonnais 123.3

13 (16) Schalke 04 117.5

14 (10) Spurs 114.8

15 (15) Hamburg 101.3

16 (19) O Marseilles 100.4

17 (14) Newcastle 99.4

18 (n/a) Stuttgart 88.3

19 (n/a) Fenerbahce 88.1

20 (n/a) Man City 82.3

It is the first time since the league's inception in 1998 that Rangers or Celtic have not rubbed shoulders with the likes of Barcelona, Manchester United and Real Madrid.

 

But Deloitte senior consultant Alex Byars is astonished it has taken so long for the Old Firm to drop off given their inferior broadcasting deals and the weak Pound.

 

He said: "To be honest, it's amazing that one or both of Celtic and Rangers have always featured in the top 20 in the past.

 

"The reality is that for any club outside the big five European leagues of England, Spain, Italy, France and Germany it is incredibly difficult to achieve the level of revenue required to make it on to the list.

 

"Fenerbahce have managed it this year, making it in 19th place, and that is largely on the back of reaching the quarter-finals of the Champions League. They are also operating in a larger domestic market than Celtic or Rangers and are doing well commercially.

 

"Celtic and Rangers both had good years on the pitch last season. Celtic made it to the last 16 of the Champions League for the second year running, while Rangers got to the final of the Uefa Cup, but it is the relatively small broadcasting market they are in which is really holding them back.

 

"They are also not helped by the depreciation of the Pound against the Euro.

 

"I think the only way we will see either Celtic or Rangers back in the top 20 any time soon is if they can make major progress in the Champions League. From their point of view, hopefully their performances in Europe this season are just a blip and not a sign of a downward trend."

 

Celtic, who were 17th in last year's 20-strong list, drop out despite their revenue showing only a minor decrease from �£75.2million in 2007 to �£73m in last year's annual accounts.

 

Rangers, who were 18th in the list in 2007, recorded record turnover of �£64.5m last season as they reached the Uefa Cup Final, but were still some way behind 20th-placed team Manchester City.

 

Publication date 12/02/09