HEAD TO HEAD

Real have soared to the top of the Deloitte 'rich list' earning £186.2million in revenue, £20million more than United, in 2004-05, but United are still by far the most profitable club in the world.

The capacity at Old Trafford will rise to 76,000 next season, with an extra 7,500 seats coming from the new quadrants in the stadium. Together with this season's 10% rise in ticket prices, United should earn an extra £16million in matchday income next year.

Real Madrid have achieved their success by concentrating on their commercial income, from areas such as merchandising, shirt sales and sponsorship.

Whereas United earn 42% from matchday income, 29% from broadcasting and 29% from commercial, the split for Real is 23%/32%/45%.

Richard Hunter of Hargreaves Lansdown Stockbrokers said: "The report shows that Real Madrid have overtaken Manchester United as the world's biggest earning football club - that is not necessarily to say that they are more profitable, however, since the report makes no allowances for costs or expenditure."

For example, United have sold their replica shirt rights to Nike, and earn around £20million annually from the deal without any manufacturing or distribution costs. Real's income from replica shirts is around twice as much but they have to cover the costs as well.

Real have also taken a leaf out of United's book in terms of international marketing. Five years ago, 80-90% of their merchandising income came from Spain, and that figure is now 40% with the rest coming from international sales.

The annual pre-season tour to the Far East has become hugely important to Real, especially since David Beckham joined, but the club are now getting concerned that the Asian market is becoming saturated.

United, one of the first clubs to recognise the potential of Asia, have also been trying to crack the North American market and Real may now try to muscle in there as well.