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United have again been named Europe's wealthiest club after generating more than €676m in revenue in 2017, according to a UEFA report.

The 10th annual European club football landscape report looks at the financial health of clubs in UEFA's 55 members associations by analysing 700 sets of audited statements up to and including the 2017 financial year.

United, who won the Europa League that year, generated more revenue than any other club and beat Real Madrid to top spot by just €1m. That represents a fall of two per cent on FY16's figure when measured in euros but a growth of 12% when converted into pounds.

The report notes that there has been a reversal of recent trends in FY17 and new television deals, the decline in the value of the pound and UEFA's prize money have all had a major impact on revenue growth.

In the summer of 2017, United spent more than €183m on transfer fees when they brought in Victor Lindelof, Romelu Lukaku, Nemanja Matic and free agent Zlatan Ibrahimovic. Alexis Sanchez, Fred, Diogo Dalot and Lee Grant would follow, at a cost of more than €78m, the following year.

United have always maintained they are prepared to pay £100m for the right player, such as a centre-back, but the ideal target was not available last summer. Given United's huge revenue streams, they certainly have the capabilities to do just that if that player emerges this summer.

The club have also generated €222m in operating profit in FY17 - €78m clear of Arsenal in second place - despite not playing in the Champions League in 2016-17.

Operating profits allow clubs to finance themselves and to be active in the transfer market while still balancing the books.

In the last decade, United have made €1.183bn in operating profit - more than any other club - and had it not been for the weak pound, the club would have smashed the record they set in FY16 in euro terms when they generated €232m.

The report notes that United earned €46m for winning the Europa League in 2017 - just €10m less than Manchester City received for reaching the knockout stages of the Champions League.

United have put together the third most expensive squad in the report, behind Real Madrid and City, and only Madrid, Barcelona and City spent more on wages in FY17.