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Emily Keogh
Arsenal Women topped the revenue list for the first time, generating €25.6 million ($29.6m, £22.5m) as top ranked women’s football clubs generated over €150m ($173.7m, £130m), according to Deloitte Football Money League.
Deloitte’s top 15 revenue-generating women’s clubs worldwide recorded a cumulative revenue increase of 35%.
The composition of this year’s top tier remains largely unchanged from the 2025 edition, with Women’s Super League (WSL) clubs continuing to dominate the rankings. Clubs from leagues in Australia, Sweden, and the United States are not included in Deloitte’s analysis due to unavailable data.
Arsenal recorded a 43% increase compared with last season, attracting crowds of more than 35,000 at the Emirates Stadium on five occasions during the 2024-25 season. This strong attendance helped Arsenal generate the highest matchday revenue among the clubs analysed, at €7m ($8.1, £6m).
Chelsea ranked second overall, earning €25.4m ($29.4m, £22m) in total revenue. They also led all clubs in commercial income, generating €19.1m ($22.1m, £16.5m).
Barcelona finished third with €22m ($25.4m, £19m), following another successful domestic season.
Across the 15 clubs, average broadcast revenue fell by 6% in the 2024-25 season. However, for the 13 clubs that also appeared in last year’s top 15, broadcast revenue increased slightly by 3%. This is largely due to long-term domestic TV rights deals, many of which are not due to expire for several years.
Despite an average 15% matchday revenue increase from €1.3m ($1.5m, £1.1m) in 2023-24 to €1.5m ($1.7m, £1.5m) in 2024-25, five WSL clubs reported a season-on-season drop following the record breaking 2023-24 season.
Participation in European and international competitions also boosted revenues.
Manchester City, ranked fourth with €12.9m ($14.9m, £11.2m), saw revenues rise by 63% after reaching the Women’s Champions League knockout stages for the first time since the 2020-21 season.
Bayern Munich, who ranked eighth with €7.2m ($8.3m, £6.2m), benefited from competing in the inaugural World Sevens Football tournament. The club reportedly earned around $2.5m (£2m) in prize money, highlighting how new competitions have significant financial impact at this stage of the women’s game.
