(CNN) -- The European economy may be experiencing a downturn, but the continent's wealthiest football clubs have once again bucked the trend according to financial adviser Deloitte. The Football Money League shows that the combined revenue of Europe's top soccer clubs was €4.4 billion ($5.8 billion) for the 2010-11 season, a 3% rise on the previous year. Spanish giants Real Madrid have been named Europe's highest-earning club for the seventh year in a row. The nine-time European champions' revenue of €479.5 million ($635 million) is an increase on €438.6 million for 2009-10. Real's archrivals and reigning Spanish and European champions Barcelona were second on the 20-club list with a revenue of €450.7 million ($597 million).
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Real Madrid named Europe's top-earning team for the seventh year in a row
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Real head archrivals Barcelona at the top of the Deloitte Football Money League
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English champions Manchester United are third, with Germany's Bayern Munich fourth
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In total, the 20 clubs on the list generated $5.8 billion during the 2010/11 season
The @placeholder giants are closing in on Manchester United's record of topping the list for eight consecutive years.