Barcelona topped the 2018/2019 earnings table with 840.8 million euros ($937 million), a record 83.5 million euros ahead of Real (757.3 million euros), while Manchester United, the highest-placed British club in third, earned 711.5 million euros (£627.1 million) for 2018-19.
The only other Spanish football club, with the exception of Barcelona and Real Madrid, among the 20 richest clubs in the world is Atletico Madrid, which retained its 13th place from the previous year with revenues of 367, € 6 million, an increase of 21%.
Entering the top five - and pushing Manchester City out - was Paris St Germain, home to superstar Neymar - though once again the English Premier League's eye-watering television deals have put it in a dominant position - with eight clubs inside the top 20.
Tottenham Hotspur are eighth, the club's highest ever position following last season's run to the Champions League final, and have overtaken Arsenal and Chelsea to become London's highest revenue generating club for the first time since 1996/97.
Further research also concludes that the top 20 clubs in the country generated a point revenue of $10.6 billion throughout the season - the highest combined revenue recorded to date.
"The club's commercial operation generated 383.5m euros (£326.6m) of revenue, which is more than the total revenue of the 12th-placed club in this year's Money League".
Deloitte credited the club's decision to bring control of merchandising and licensing activities in-house, a change which allowed the La Liga champions to increase revenue. The club generated €363.4m of commercial revenue, the second highest ever recorded, attributable to the signing of five new partners and the extension of contracts with six global brands.
City, who are sixth in the list while Liverpool are seventh, trail United by just under 101 million euros (£89 million).
This time, Barcelona is officially the richest football club in the world for the first time. "United have been the top English club since we started the Money League but that could come under a bit of pressure when we do it in 2021", Jones said.
A new report into the financing of football says it remains debatable whether broadcast revenues are finally beginning to plateau.
"The impact of participation and performance in UEFA club competitions on revenue is evident in London and the northwest, with the rise of Liverpool, Manchester City and Spurs driven by reaching the Champions League knockout stages", said Sam Boor of Deloitte's Sports Business Group.