For the very first time, Liverpool has claimed the title of the highest-earning club in the Premier League, as revealed by a recent analysis from the financial consultancy firm, Deloitte. This achievement comes on the heels of an impressive season where Liverpool secured the English top-flight championship, raking in an astounding 836 million euros (approximately £702 million) in revenue—more than any other club in England.
In a significant turn of events, Manchester United has slid to its lowest-ever rank in this year’s Deloitte Football Money League, marking the 29th edition of the report. Meanwhile, Real Madrid retains its position at the top of the list, generating a remarkable 1.2 billion euros (about £1.01 billion) in revenue, even without clinching the Champions League or La Liga titles last season. Both Manchester City and Manchester United have seen declines in their rankings.
Barcelona made a comeback into the top three for the first time since the 2019-2020 season, securing the second spot with a revenue of 975 million euros (roughly £819 million), despite playing their home games away from the Nou Camp due to renovations.
Bayern Munich holds third place with earnings of 861 million euros (around £723 million), followed closely by Paris St-Germain, the Champions League winners, who are in fourth with 837 million euros (approximately £703 million). Liverpool, now in fifth, marks a significant milestone in their financial achievements.
Manchester City, once a strong contender in the league, has dropped from second to sixth, reporting revenue of 829 million euros (about £697 million). On the other hand, Manchester United, which ended the last Premier League season in 15th place and suffered defeat in the Europa League final against Tottenham, has fallen from fourth to eighth with a revenue of 793 million euros (around £666 million).
Historically, Manchester United had dominated the financial landscape, topping the money league ten times, most recently in 2017. However, their current matchday revenues are expected to decline this season, as they are not participating in European competitions and were eliminated early from both the FA Cup and League Cup.
Tim Bridge, lead partner of Deloitte’s Sports Business Group, remarked, "If you look back a decade or 15 years, Manchester United's matchday revenue was unmatched in the industry. Their ability to generate commercial income was the gold standard for others. Unfortunately, that is no longer the case."
The Deloitte report indicates that six English clubs are among the top ten earners, including Arsenal, which is ranked seventh with 822 million euros (approximately £690 million). Tottenham is in ninth place with a revenue of 673 million euros (around £565 million), while Chelsea rounds out the top ten with earnings of 584 million euros (about £491 million).
Additionally, three other English clubs made it into the top twenty: Aston Villa at 14th with 450 million euros (approximately £378 million), Newcastle United at 17th with 400 million euros (around £335 million), and West Ham United at 20th with 276 million euros (about £232 million).
Overall, the revenue for the top twenty clubs increased by an impressive 11%, reaching a record high of 12.4 billion euros (about £10.4 billion). This rise was significantly influenced by the growth of commercial revenues, which surged to 5.3 billion euros (approximately £4.5 billion) from 4.9 billion euros (about £4.1 billion). The increase has been attributed to a transformation in clubs' business models, focusing more on the utilization of stadiums and nearby areas outside of matchdays, enhanced sponsorship agreements, and improved retail performance.
Interestingly, Real Madrid's commercial revenues alone amounted to 594 million euros (approximately £499 million), which would have secured them a spot in the top ten even without their matchday income. Matchday revenue remains the fastest-growing segment, climbing 16% to 2.4 billion euros (around £2 billion).
The expanded FIFA Club World Cup, held in the United States last summer, also contributed to a 10% increase in broadcast revenues. Manchester City and Chelsea represented England in this tournament, and their participation resulted in a 17% boost in broadcast revenue for involved clubs.
Deloitte's Bridge emphasized that the Money League figures demonstrate how clubs are taking more control over their revenue-generating potential. Nonetheless, he pointed out that with the players' union, Fifpro, taking legal action against FIFA regarding the increased number of games within the football calendar, it’s crucial to strike a balance between generating more revenue and ensuring player welfare.
He stated, "On-field performance continues to be a key factor for clubs aspiring to reach higher positions in the rankings, with many benefiting from new and expanded European and international tournaments. In the upcoming 2024-25 season, teams featured in the Money League will generally play more matches than in the previous season, reflecting the growth of various competitions and improving performances. While this presents considerable financial opportunities, it is essential to find a balance between optimizing revenues and safeguarding the integrity of the game and player welfare amidst an ever-busier schedule."
In preparing these figures, Deloitte used the average exchange rate over the twelve months leading up to the clubs' reported fiscal year-end, with one euro equating to £0.84.
