Real Madrid and Barcelona Lead Deloitte’s Football Money League, Top 20 Clubs’ Revenue Hits New Record
According to the latest Deloitte Football Money League 2026 report, the total revenue of the top 20 highest-earning football clubs globally surpassed €12.4 billion for the first time in the 2024/25 season, an 11% increase year-over-year. Real Madrid holds the top spot for the second consecutive year with revenue approaching €1.2 billion. FC Barcelona has seen a significant rise to second place, with revenue reaching €975 million.
Overall Rankings and Total Revenue
The report shows that the top 20 clubs’ cumulative revenue reached €12.4 billion, a new historical high. Among them, Real Madrid firmly holds first place with revenue near €1.2 billion, FC Barcelona is second with €975 million, Bayern Munich is third with €861 million, and Paris Saint-Germain is fourth with €837 million. Premier League clubs such as Liverpool, Manchester City, Arsenal, Manchester United, Tottenham Hotspur, and Chelsea occupy multiple spots, with a total of 9 English clubs in the top 20.
This ranking is based on financial data from the 2024/25 season, reflecting the continued growth of Europe’s top clubs in commercial development and competition participation. Ten of the clubs participated in the expanded FIFA Club World Cup, which further boosted their revenue.
Analysis of Revenue Streams
Commercial revenue exceeded €5.3 billion for the first time, accounting for 43% of total revenue and becoming the largest income source. Matchday revenue grew by 16% to €2.4 billion, benefiting from enhanced stadium experiences and innovative models like personal seat licenses. Broadcast revenue increased by 10%, making up 38% of the total, primarily influenced by UEFA competition reforms and the expansion of the Club World Cup.
The top 10 clubs have a commercial revenue share as high as 48%, while this figure is 32% for clubs ranked 11th to 20th, highlighting the clear advantage of elite clubs in sponsorships, retail, and non-matchday stadium utilization.
Highlights of Key Clubs’ Performance
Real Madrid’s commercial revenue reached €594 million, a 23% year-over-year increase, compensating for a slight dip in matchday income through sponsorships and merchandise sales. Despite being unable to use Camp Nou during its renovation, FC Barcelona still achieved a 27% overall growth, mainly from seat license income. Bayern Munich benefited from the Club World Cup broadcast distribution, rising to third. Paris Saint-Germain maintained its high ranking through brand collaborations.
Among Premier League clubs, Liverpool became the highest-earning English club for the first time, ranking fifth. Manchester City and Manchester United saw their rankings slip, mainly due to on-pitch performance and fluctuations in broadcast revenue.
Rapid Growth in Women’s Football Revenue
The report also points out that in the 2024/25 season, the total revenue of the world’s 15 highest-earning women’s football clubs surpassed €158 million for the first time, a 35% year-over-year increase. Arsenal W.F.C. leads with €25.6 million in revenue, closely followed by Chelsea F.C. Women and FC Barcelona Femení. This growth reflects the progress of women’s football in commercial development and fan engagement.
