MONEYBAGS United are eating up the ground on Real Madrid as the wealthiest club on the planet.

The latest Money League for the 2006-07 season by business advisory firm Deloitte sees the Reds leap two places from fourth to second in the cash league table.

Juventus have plummeted in the Money League from third to 12th after being hit by their demotion from Serie A last term in the wake of the Italian match fixing scandal. But United have overtaken Barcelona in the pecking order.

Significantly, Old Trafford's income from match day revenue, broadcasting and commercial sources rose more than that of Real.

The Spanish giants increased their income by 20 per cent, while United's income rose by 30 per cent.

While Madrid posted income of £236.2m, United's revenue was £212.1m.

It was Madrid's third consecutive season as the world's richest club but United are closing the gap. United and Real were the first clubs ever to generate more than £200m in a season.

The Reds' rise was helped by the opening last season of the new quadrants in the corners of the East and West Stands that took the stadium capacity to 76,000 and the Champions League semi-final finish also brought in extra cash compared to the previous campaign when United failed to make the knockout stages.

Deloitte's figures for last season don't, of course, include the price increase at Old Trafford for this term set last April, nor the controversial Automatic Cup Ticket Scheme that has angered many Reds fans.

That scheme, implemented for all season ticket holders this term, forces Old Trafford's most loyal supporters to purchase tickets for all the Reds cup games in Europe, the FA Cup and the League Cup.

United increased season ticket prices this term by up to 14 per cent following an across the board rise of 12.5 per cent the previous year.

With the new TV money kicking in for the next figures in 12 months' time, United are on course to regain the top spot in the Money League.

Dan Jones, partner at Deloitte in Manchester, said: "With the new Premier League television deals now online for the 2007-08 season, Manchester United have the opportunity to significantly close the gap on Real and a successful Champions League run may even see them challenge again for the number one position.

"I would expect United to rise further next year. The big difference between United and Real is that Real can sell their own broadcast rights."

While the Reds continue to rake it in, neighbours City dropped out of the top 20 in the Money League but Jones believes it will be a temporary situation.

"City just drop out this year, but I am pretty confident that we'll see them back next year. They've had a pretty good season so far and there's the new television deal, too."