Record Manchester United earnings and Manchester City's Champions League run were key to Premier League clubs' revenue hitting an all-time high in 2015-16, according to business advisory firm Deloitte.
"Premier League clubs' revenues increased to a new record of 3.6 billion in 2015-16," Deloitte noted in a press release. It was an increase of 200 million, or 9%, on the same period last year and the Manchester clubs were responsible for half of this.
Increased matchday, broadcast, and commercial growth at Manchester United contributed to a record revenue of 515.3 million for the 2015-16 season, Deloitte said. It ensured United topped Deloitte's Football Money League, which was published in January, as the world's highest revenue-generating football club.
Local rivals Manchester City's progression to the semi-final of the Champions League last season (where the team was eventually knocked out by Real Madrid), helped the club post revenues of 392.6 million. Some 75.8 million of this was from the club's European adventure, according to the UEFA payments table for the 2015-16 campaign.
Dan Jones, head of the Sports Business Group at Deloitte, said: "Increased distributions to clubs competing in Europe, under the new broadcast rights cycle notably Manchester City, who reached the semi-finals of the Champions League also contributed to Premier League clubs' revenue growth."
Another interesting stat from Deloitte's latest report is that despite the record revenue of 3.6 billion, Premier League clubs recorded pre-tax losses of 110 million.
Increased wage costs of 2.6 billion ( a 12% increase) were to blame, Deloitte said, as well as "increased amortisation charges" from record transfer expenditure in the 2015 summer transfer window.
The losses bucked a two-year trend of pre-tax profits but Jones noted the Premier League's latest TV rights deal worth 5.136bn for the three seasons from 2016-19 will "see a return to record levels of profitability in the 2016-17 season."