TOP-FLIGHT football clubs are these days involved in as much action off the pitch as they are on it.

Football finance fills many column inches in our papers and hours of air time.

The Premier League clubs have provided such sideshows in recent months as Liverpool’s protracted ownership dispute in the High Court, and, before that, Everton’s proposed move to Knowsley.

Their retail strategies are capturing attention, too, with Liverpool confirming they are considering a shop at Liverpool John Lennon Airport (having recently opened one in Belfast) and Everton still raising smiles from passers-by at their Liverpool One outlet.

It’s the growth of these parts of the big clubs’ business that commands the attention of experts at Deloitte in the compilation of their Football Money League.

This list is drawn up from data covering ticket sales, sponsorship, merchandising and other commercial revenues, television monies, corporate hospitality and non- match day stadium use.

In the latest list, topped for a record sixth year by Real Madrid, Liverpool is ranked eighth.

The 20 clubs in the list have combined revenues of £3.8bn.

That’s a hefty sum – especially when you remember the Deloitte review does not include the cost of transfer fees or player wages, or VAT and other sales taxes, and concentrates solely on day-to-day income.

Liverpool’s appeal to overseas supporters is apparent around town on any match day. Such is the club’s contribution to the area’s visitor economy, it was once presented with a special award by the local tourist board for helping to fill hotels and keeping some budget airlines serving the airport busy.

It is this extensive, loyal fan base that Deloitte says stands the wealthy clubs in good stead. They say they had expected to see the full impact of the global economic downturn on clubs in the 2009/10 season.

Deloitte also says that the established large and loyal supporter bases and historic on-pitch success has “continued to underpin the brand strength” of football’s top clubs.

So, a sport or a business?

Both has to be the answer, with, hopefully, more of the former during the 90-minute sessions our clubs’ most prized assets do their bit.