Real Madrid stay top of money league despite barren year

Real Madrid's Cristiano Ronaldo (L) and Karim Benzema (2nd R) battle for the balll against Espanyol's Joan Capdevila (11) and Sidnei Rechel during their King's Cup soccer match at Cornella El Prat stadium, in Barcelona January 21, 2014. REUTERS/Gustau Nacarino

LONDON (Reuters) - Spain's Real Madrid retained the title of the world's richest football club in the past year thanks to sponsorship and TV deals robust enough to endure a season without a major trophy, a study showed on Thursday.

Real's revenue of 519 million euros ($704 million) put the club ahead of domestic rivals Barcelona in fiscal 2012/2013, with European champions Bayern Munich edging into third ahead of Manchester United, in the annual Football Money League compiled by accountants Deloitte.