Liverpool top English club in Deloitte Money League

Liverpool has emerged as the leading revenue-generating club in the Premier League for the first time, as per the findings from financial analysis firm Deloitte.

The Reds clinched the English top-flight championship last season, bringing in 836m euros (£702m) – surpassing all other English clubs in revenue.

Manchester United has experienced its lowest ranking in the latest 29th edition of the Deloitte Football Money League.

Real Madrid ranks highest again with a revenue of 1.2bn euros (£1.01bn), despite not securing the Champions League or La Liga championships last season, as both Manchester teams declined in standings.

Barcelona claimed second place, re-entering the top three for the first time since 2019-20 with a revenue of 975m euros (£819m), even though they played their home matches away from the Nou Camp due to renovations.

Bayern Munich ranks third with 861m euros (£723m), while Champions League titleholders Paris St-Germain are fourth with 837m euros (£703m) and Liverpool in fifth.

Manchester City has dropped from second to sixth, generating a revenue of 829m euros (£697m).

Manchester United, who ended the Premier League season in 15th position and lost to Tottenham in the Europa League final, fell from fourth to eighth with 793m euros (£666m).

United has topped the money league 10 times, the last being in 2017.

Their matchday revenues are also expected to decline this season as they aren’t competing in European tournaments and have been eliminated from both the FA Cup and League Cup in the early rounds.

«If you go back 10 or 15 years, Manchester United’s matchday income was the highest in the sector,» stated Deloitte Sports Business Group lead partner Tim Bridge.

«Their capacity to generate commercial income was the guideline for all others to establish their strategies. That no longer seems to hold true.»

There are six English clubs included in the top 10, with Arsenal (822m euros, £690m) in seventh, Tottenham (673m euros, £565m) in ninth, and Chelsea rounding out the list in 10th with 584m euros (£491m).

Three additional English teams secured spots in the top 20, with Aston Villa (450m euros, £378m) in 14th, Newcastle United (400m euros, £335m) in 17th, and West Ham United (276m euros, £232m) in 20th.

Overall, the earnings of the top 20 clubs rose by 11% to a record 12.4bn euros (£10.4bn).

Commercial revenues increased to 5.3bn euros (£4.5bn) from 4.9bn euros (£4.1bn), spurred by a transition in clubs’ business strategies focusing on enhanced use of stadiums and surrounding areas during non-matchdays, growth in sponsorship income, and better retail performance.

Real Madrid’s commercial revenue reached 594m euros (£499m), sufficient on its own to place them in the 10th position.

Matchday earnings once again were the revenue stream that experienced the fastest growth, rising by 16% to 2.4bn euros (£2bn).

The expanded FIFA Club World Cup, held in the United States last summer, contributed to a 10% increase in broadcasting revenue.

Manchester City and Chelsea represented England, and their participation led to a 17% hike in broadcast revenues for those involved.

Deloitte’s Bridge asserts that the Money League statistics indicate «clubs increasingly taking charge of their revenue-generating potential».

Nonetheless, with the players’ union FIFPro pursuing legal action against FIFA regarding the expanded game schedules, Bridge emphasized the necessity of achieving a balance between enhanced income and player well-being.

«On-field performance remains a central factor for clubs to ascend the rankings, with numerous clubs benefiting from newly developed and expanded European and global tournaments,» commented Bridge.

«In the 2024-25 season, Money League clubs, on average, processed more games than in the previous season, reflecting the proliferation of competitions and the sporting successes of many ranked clubs.

«While this provides significant financial opportunities, a balance must be maintained between optimizing revenue and preserving both the quality of matches and player welfare amidst an ever-growing schedule of fixtures.»

When calculating its findings, Deloitte stated that amounts have been converted using the 12-month average exchange rate corresponding to the clubs’ reported fiscal years, with 1 euro equivalent to £0.84.