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Liverpool FC have maintained their place in the Top 10 of the Deloitte Football Money League.

The Reds are placed ninth in the annual report, which measures clubs in terms of revenue generated and is now in its 19th year.

The figures, which relate to the 2014/15 season, show that Liverpool generated a total of £298.1m, making them the fifth highest-ranked English club – below Manchester United (£395.2m, placed third), Manchester City (£348.3m, sixth), Arsenal (£331.3m, seventh) and Chelsea (£319.5m, eighth).

For Liverpool, revenue rose by £42.3m (17%), reflecting the club's (brief) return to the UEFA Champions League last season, as well as a healthy 26% increase in matchday revenue.

Broadcast revenue also rose, 21% to £124.6m, due to the club's Champions League participation, while commercial revenue stood at £116.4m, having risen by £8.3m (8%).

Tim Bridge, Senior Manager in Deloitte’s Sports Business Group, said: “It has been another good year financially for both Merseyside clubs.

“Despite Liverpool not advancing from the Champions’ League group stages and Everton not achieving the same level of success noted in the 2013/14 season, both clubs posted revenue growth, with Liverpool managing to successfully capitalise on their return to the Champions League.

“Everton and Liverpool both managed to increase revenues in all three main revenue streams of matchday, broadcast and commercial, clearly demonstrating the business strength of Merseyside’s top clubs.

“Both clubs have the potential to grow further and move up the Money League in the coming seasons.”

The report also points out that Liverpool's matchday revenue, which stood at £57.1m, will be significantly boosted by the redevelopment of Anfield's Main Stand, which will increase the stadium's capacity to 54,000 in time for the 2016/17 season.

Real Madrid again retained their place at the top of the list, with a total revenue of £439m. European Champions Barcelona were second with £426.6m.

New additions to the top 20 include Roma (£137.2m) and West Ham United (£122.4m).

Professor Simon Chadwick, of Salford University, says the presence of nine Premier League teams in the top 20 shows the strength of English football.

He said: “The figures are testament to the enduring commercial strength of the Premier League. Television, ticket, merchandising and sponsorship revenues remain buoyant, and we should expect more as the league heads into its latest broadcasting at the start of next season.

“Some may question whether English clubs can perform at the highest level on the field, but there's no doubt that they can off-it. The massive cultural change we have seen inside clubs over the last decade - for example, better management, a stronger market focus and more robust organisational cultures - continue to pay dividends.

“There's no doubt that the Premier League and its clubs are cutting-it commercially alongside the biggest sports leagues in the world.

“Many people ask 'when will the Premier League bubble burst?' At the moment, there are no immediate signs that it will.

“However, currency shifts, falling oil prices, debt and a slow down in global economic activity, allied to the competitive responses of rival leagues across the world, are all potential threats to the commercial performance of Premier League clubs. Club managers need to be mindful of such threats and manage their organisations accordingly.”

To review the full findings of the Deloitte Football Money League, please visit: www.deloitte.co.uk/sportsbusinessgroup