Italian clubs are struggling to keep pace financially with their European competitors, according to a report by Deloitte.
The Deloitte Money League charts the highest earning clubs in football, a list that for the tenth consecutive season is topped by Real Madrid.
Deloitte revealed that only Juventus remain among the top ten richest clubs in the world, with AC Milan, Napoli and Inter also making the top 20.
The report further highlights the relative decline of Italian football globally, as in the 2001 edition five Serie A clubs made the top five and seven made the top 20.
The authors claim that the central reason for this decline is the issue of stadium development and ownership with the matchday revenue of Milan, Napoli and Inter among the bottom quartile of this year’s top 20.
They warn that unless there is major investment in facilities and the matchday experience this decline will only continue.
Juventus are tenth in the list with revenue of €279.4 million, largely thanks to their domestic success, Champions League participation and their new stadium.
Napoli returned to the top 20 in 16th at €164.8 million thanks to a successful Champions League campaign last year, while Milan are down two places to 12th with €249.7 million and rivals Inter slip to their lowest ranking in the 18 year history of the report in 17th with €164 million.
The combined revenue for the top 20 Money League clubs reached €6.2 billion in 2013/14; an increase of 14 per cent on the previous year.
The list is dominated by English clubs, with all 20 Premier League teams from last season making the top 40, while only Galatasaray feature in the top 20 from outside the top five leagues in Europe.
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