Juventus are still the richest club in Italy despite their costly demotion, a financial report has insisted.
The Turin giants have lost millions since they were stripped of their Serie A status for their part in Calciopoli scandal, but only Real Madrid and Barcelona made more money than them in 2005-06.
A report published by Deloitte states that the Old Lady of Italian football made almost £166m within that period, even more than Manchester United.
Milan are the fifth richest club in the world, two places and £20m better off than city rivals Inter. Roma are 12th after netting an income of £83.8m.
Top 20 Richest Clubs:
1) Real Madrid £192.7m
2) Barcelona £171m
3) Juventus £165.8m
4) Manchester United £160m
5) AC Milan £157.5m
6) Chelsea £145.8m
7) Internazionale £136.3m
8) Bayern Munich £135m
9) Arsenal £126.9m
10) Liverpool £116.1m
11) Olympique Lyonnais £84.2m
12) AS Roma £83.8m
13) Newcastle United £82m
14) Schalke 04 £81.1m
15) Tottenham Hotspur £70.7m
16) Hamburg SV £67.1m
17) Manchester City £59m
18) Glasgow Rangers £58.4m
19) West Ham United £57.3m
20) Benfica £56.1m
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