The list is based on revenues for the 2013/14 season, with the top five rounded out by German champions Bayern Munich, Barcelona and French side Paris Saint-Germain.
The rest of the top ten is dominated by Premier League clubs, with defending champions Manchester City in sixth ahead of Chelsea, Arsenal and Liverpool, who all saw a rise in revenue from the previous season. Italian champions Juventus make up the top ten.
Tottenham were in 13th spot, while there were new entries for Newcastle United and Everton at 19th and 20th.
Despite the rise in revenue over last season, the figures do not reflect the club's absence from the Champions League this season, having finished seventh in the Premier League this season.
Their popularity overseas as well as lucrative pre season tours in America and Asia have all added to the club's overall revenue.