In this year’s Deloitte Money League, Spanish giants Real Madrid retain the top spot after becoming the first football club to generate €1 billion in revenue.
Real posted revenue of €1.05bn (£883m) for the 2023/24 season, where they won both the Champions League and La Liga.
Second place belongs, once again, to Manchester City. The English champions recorded a revenue of £708m.
City won a record fourth consecutive Premier League title last season, as well as the Club World Cup and European Super Cup.
Rounding out the top five are Paris St-Germain (£681m), Manchester United (£651m) and Bayern Munich (£646m).
Returning to European football for the first time in 12 years, Aston Villa made it into the top 20.
Arsenal, Liverpool, Tottenham, Chelsea, Newcastle and West Ham were the other Premier League sides in the top 20, all keeping their places from the previous year.
West Ham United are the 17th highest revenue-generating football club in the world from Deloitte's 2025 Football Money League Report 📈⚒ pic.twitter.com/MgRRIuZNu2
— COYIrons (@COYIronscom) January 23, 2025
Five other Premier League clubs made it into the top 30, with Brighton, Crystal Palace, Everton, Fulham and Wolves all on the list.
The top 20 clubs saw total revenue rise to a record £9.47bn, up six percent on the previous year’s figure.
What Is The Deloitte Money League?
Published this year for the 28th time, the Deloitte Football Money League compares the revenue of the world’s richest football clubs.
It combines a club’s revenue streams across broadcast, commercial and matchdays to give a total figure, and then ranks clubs in order of total revenue.
This year, matchday revenue saw the biggest growth. It rose by 11% to £1.77bn – thanks largely to stadium expansions and increasing ticket prices.
Real Madrid doubled their matchday revenue to £210m thanks to their renovation of the Bernabeu Stadium.
Barcelona, meanwhile, lost matchday revenue after being forced to play some games elsewhere while the Nou Camp is redeveloped.
The biggest source of revenue is still commercial, though. Commercial revenue rose 10% to £4.14bn, making up 44% of all clubs’ revenue.
Included in the commercial figure is revenue from non-football events such as concerts or hosting other sports – like the NFL at Tottenham Hotspur Stadium.
Tim Bridge, lead partner in the Deloitte sports business group, said: “Money League clubs continue to break records with ongoing growth in commercial and matchday revenues.”
Money League Shows Women’s Football Is Growing Fast
Deloitte also analysed the top 15 women’s clubs for revenue generation.
For the first time, total revenue broke the €100m mark – up 35% from last year.
Barcelona are top for the third year running, with a 26% rise in revenue to £15.1m
Arsenal jump from fifth to second, with a 64% increase in match day revenue, and a total revenue of £15.1m.
Chelsea (£11.3m), Manchester United (£9m) and Real Madrid (£8.9m) were third, fourth and fifth.
Rising attendances and better sponsorship deal have helped the women’s game to increase its revenue.
Jennifer Haskell, Deloitte’s sports business group’s knowledge and insight lead, said: “It is clear that the women’s game is growing rapidly across metrics including and beyond revenue.
“While women’s clubs have traditionally been compared to, or expected to mirror, the structure and business of men’s clubs, we are seeing a fundamental shift in the recognition of opportunity that stems from embracing key differences.”
