Manchester United’s revenue dropped to the fourth-highest in Europe for the first time last season.United’s revenue in 2012-13 fell behind that of European and world champions Bayern Munich, who leapfrogged them into third place behind Real Madrid and Barcelona in the Deloitte Football Money League.Although United – like most clubs in the top 20 – generated more money last season, £363.2 million, than in any previous campaign, this is the first time that they have not been in the top three in the Money League.

United’s share price has plummeted by £150 million since David Moyes succeeded Sir Alex Ferguson amid one of their worst seasons in recent memory, while they also failed to attract top players to Old Trafford during the summer.

Their financial outlook remains healthy thanks to the bumper new Premier League television contract and some lucrative commercial deals, but that could change if the club fail to qualify for the Champions League this season and beyond.Dan Jones, partner in the Sports Business Group at Deloitte, was confident that United would climb back into the top three in next year’s Money League but said: “Consistent non-qualification for the Champions League would be a problem because, in round number terms, it is worth circa €50 million [£40 million]. For the season we’re currently in, that’s likely to be about 10 per cent of their revenues.”There was more bad news for Premier League clubs when the other members of last season’s top four were all overtaken by Paris St-Germain, who climbed to fifth place behind United after almost doubling their revenue to £341.8 million.Manchester City (£271m) also overhauled both Chelsea (£260m) and Arsenal (£243.6m) for the first time, climbing one place to sixth, with their rivals dropping two spots to seventh and eighth, respectively.Liverpool (£240.6m) slipped out of the top 10 for the first time since 1999-2000 but were still two places ahead of Tottenham Hotspur (£172m), who remained in 14th. Spurs and Chelsea were the only two English clubs in the top 20 to generate less revenue than they did in 2011-12.Jones said: “The combined revenue of the top 20 clubs, almost all of which grew their revenue during 2012-13, increased by eight per cent, far outpacing the wider global economy. This growth comes even before the new record Premier League and Bundesliga broadcast deals, which will impact on clubs’ revenues in next year’s Money League.”(telegraph.co.uk)ANN.Az