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12. Manchester City, England

Total Revenue for 2011: £153.2 million ($242 million)
League: Premier League

Under new owner the Abu Dhabi Investment Group, Manchester City has established itself as one of the biggest spenders in the Premier League, and massive investment in the team has translated to on-pitch success.

Manchester City achieved a 22 percent increase in revenue to £153.2m in 2010-2011 yet slipped one place in the Money League due to Schalke and Tottenham’s performances in the Champions League.

On the pitch, City enjoyed its most successful season of the modern era, ending a 35-year wait for a major trophy by winning the FA Cup, reaching the last 16 of the Europa League, and finishing third in the Premier League, thus qualifying for the Champions League.

Commercial revenue increased by £11.1 million and now represents 38 percent of total revenue, having tripled over the past two years. A batch of new sponsorship deals commenced in 2010-2011, including with Heineken and Jaguar, to expand the club’s portfolio, which already includes Etihad Airways, Umbro, Aabar, Abu Dhabi Tourism Authority and Etisalat.

The club has secured a groundbreaking new 10-year partnership with Etihad covering shirt sponsorship, stadium naming rights and other commercial opportunities, which will further substantially boost commercial revenue in 2011-2012.

Photo: Alex Livesey | Getty Images