Gunners increase their financial muscle

ARSENAL have overtaken Chelsea in the ‘rich list’ of European clubs while Manchester United have dropped to third place behind Real Madrid and Barcelona.

The Deloitte Football Money League sees the two Spanish clubs secure the top spots but mainly due to the continuing decline of the pound against the euro.

The most notable change in the list, based on clubs’ revenue excluding transfer fees, sees Arsenal leapfrog Chelsea with the Gunners recording a 7% rise in revenue to €248.3m compared to their London rivals’ €228m – a 3% fall in revenue.