Real Madrid have recorded record revenues of €620million (£561m) in their accounts for the financial year 2015/16.

It means the Spanish giants have surpassed Manchester United (£515.3m) and Barcelona as the world's highest-earning club.

While Barcelona posted a figure of €679m revenue, eclipsing the side from the capital by nearly €60million, this included player sales whereas Madrid excluded such income - as Deloitte do in their annual rich list.

Removing player sales of around €67m takes Barca's revenue to €612m and means that the Madrid outfit have surpassed their arch rivals, who are suffering from still being on the relatively old terms of their sponsorship agreement with Qatar Airways as they continue their search for a new club sponsor.

Madrid's revenue is up nearly 8% from last year's mark while net debt fell by over €100m and their net profit beats the Nou Camp club, albeit by just €30.3m to €29m.