Real Madrid Retain Top Spot in Deloitte Football Money League

Real Madrid have once again been crowned the world’s highest-earning football club, according to the latest Deloitte Football Money League, which analyses the revenues of the top 20 clubs for the 2024/25 season.

The Spanish giants generated €1.161 billion in revenue, extending their lead at the summit of the ranking and underlining their financial strength following continued growth in commercial and matchday income. Deloitte notes that the redevelopment of the Santiago Bernabéu and Real Madrid’s global commercial appeal have played a major role in sustaining their position at the top.

Record Revenues Across Elite Football

The report reveals that the top 20 clubs collectively earned €12.4 billion, the highest total in Money League history. Deloitte highlights that this growth reflects football’s increasing ability to monetise global fanbases, alongside improved stadium utilisation and resilient commercial partnerships.

Commercial revenue remained the largest income stream for clubs, while matchday revenues continued to recover and expand as clubs maximised stadium offerings and premium experiences. Broadcast income remained stable overall, with performance in European competitions continuing to have a significant impact on individual club rankings.

Premier League Well Represented

The Premier League once again had the strongest representation in the Money League, with nine English clubs featuring in the top 20. Liverpool emerged as the highest-placed English side, finishing fifth overall, supported by strong commercial performance and increased matchday income.

While several Premier League clubs remained among football’s financial elite, Deloitte’s analysis shows that ranking positions continue to be influenced by on-pitch success, particularly qualification for and progression in European competitions.

Top 20 Clubs by Revenue (2024/25)

1. Real Madrid – €1.161bn
2. Barcelona – €974.8m
3. Bayern Munich – €860.6m
4. Paris Saint-Germain – €837.0m
5. Liverpool – €836.1m
6. Manchester City – €829.3m
7. Arsenal – €821.7m
8. Manchester United – €793.1m
9. Tottenham Hotspur – €672.6m
10. Chelsea – €584.1m
11. Inter Milan – €537.5m
12. Borussia Dortmund – €531.3m
13. Atlético Madrid – €454.5m
14. Aston Villa – €450.2m
15. AC Milan – €410.4m
16. Juventus – €401.7m
17. Newcastle United – €398.4m
18. VfB Stuttgart – €296.3m
19. Benfica – €283.4m
20. West Ham United – €276.0m

Financial Landscape Continues to Evolve

Deloitte’s report underlines how financial performance is increasingly shaped by long-term strategic planning, including infrastructure investment, commercial diversification and global fan engagement. Clubs that successfully align on-pitch success with off-pitch growth continue to strengthen their competitive position in the Money League.

As football’s commercial landscape evolves, Deloitte concludes that sustained revenue growth will depend on clubs’ ability to innovate, expand internationally and capitalise on major global events over the coming years.

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