The PSG post club records revenues of 637.8 million euros for 2018-19

PARIS: Paris Saint Germain ( PSG ) announced record revenues of 637.8 million euros ($ 706 million) for fiscal year 2018-19 on Wednesday, confirming its status as one of the richest clubs in the world.

It represents a 17.7 percent increase over previous revenues of 541.7 million euros, which placed them in the sixth richest football club in 2018.

However, the money generated is still much lower than that of Barcelona and Real Madrid, which exceeded last year. Deloitte soccer money league .

Barcelona expects to record revenues of more than one billion euros this season, becoming the first football club to pass the mark, while Real Madrid recorded operating revenues of 757.3 million euros for 2018-19.

PSG signed a new shirt sponsorship deal with the French multinational Accor in February. They also agreed a new and improved agreement with US sportswear giant Nike in June that runs until 2032.

The French champions have been under the scrutiny of the UEFA European football governing body after spending more than 400 million euros in 2017 to sign Brazil star Neymar and Kylian Mbappe.

But in March, the Sports Arbitration Court supported Flirt 1 UEFA club.

CAS upheld PSG 's appeal against a decision by UEFA to reopen a probe into the club's compliance with FFP regulations.

UEFA had originally cleared PSG of wrongdoing.