But if you look at total income, the difference still is huge. The top has way more income from merchandise, sponsorship, and revenue share from UEFA tournaments (champions league, in particular)

For example, http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9N... shows that Manchester United had £320M revenue in 2012; 'only' £60M of that is from those broadcast rights.

At the bottom, http://www.wolves.co.uk/news/article/wolves-headline-financi... reports a total revenue of £60.6M.