However, the Premier League provided six of the top 10, which is a record from a single country.
The report found that the 20 highest-earning clubs in the world generated a record £7.4bn of combined revenue in 2017/2018, an increase of 6% on the previous year.
United, though, were unable to keep pace with Madrid and Barcelona after pulling in £581m, a fall of £8.8m on the previous season.
Barcelona are in second place with revenues of just over £611m, a rise of more than £50m, after signing a new shirt sponsorship with a Japanese e-commerce company and winning La Liga.
“European football remains a bull market, with annual revenue growth of almost €450m [approximately £390m].
“Real Madrid’s outstanding financial performance in 2017-18 is built on their long history of success on the pitch, most recently three consecutive Champions League titles.
“This has enabled the club to continue to drive commercial revenue as the appetite to partner with Europe’s most successful clubs remains stronger than ever,” Dan Jones, a Deloitte partner, said. SHARE THIS STORY USING ANY OF THE BUTTON BELOW ⬇ PLACE YOUR TEXT ADVERT BELOW ⬇⬇⬇