The Deloitte Football Money League 2024 has now been published - and Newcastle United rank among the top 20 highest revenue generating football clubs in the world.
The Money League looks at revenue figures reported in clubs' annual accounts for the 2022-23 financial year and does not look at operating costs. Earlier this month, the Magpies announced an 39% increase, totalling to £250.3million.
Tim Bridge, the lead partner in Deloitte's Sports Business Group, said: "There is a point in time, a moment here, where you've got Real Madrid and Barcelona redeveloping their stadiums, they have made moves towards controlling much more of their operations, particularly merchandising and licensing, so those revenue figures are a result of direct changes they have made to their business model.
"When we look at the Premier League holistically we're not 100 per cent certain the days of significant domestic growth in media rights is over, but what we can say is, without significant competition coming into that market, then single-figure percentage growth is the likely outcome in that domestic market. Therefore the focus is on what can be done in the international market.
"What has always underpinned the fact there have been 10 or 11 Premier League clubs in the Money League has been that the media rights growth has given them significant distributions. Other leagues have caught up and there has been a slight plateauing of Premier League rights."
Check out the top 20 and see how Newcastle's turnover compares to their Premier League and European rivals:
1. Real Madrid - £723m
Up one place. 2021-22: £604.4m.
2. Manchester City - £718.2m
Down one place. 2021-22: £619.1m.
3. Paris Saint-Germain - £697.2m
Up two places. 2021-22: £554.1m.
4. Barcelona - £695.8m
Up three places. 2021-22: £540.4m.