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By annual revenue, Real Madrid was Europe’s richest football club in the 2024/25 season, with revenue close to €1.2 billion. Deloitte’s 2026 Football Money League ranks the 20 highest-revenue clubs globally; all 20 clubs in its list are European. This is a revenue ranking—not a measure of profit, net worth, club valuation, transfer budget or owners’ personal wealth.
Top 20 richest football clubs in Europe by 2024/25 revenue
Deloitte published its 2026 Football Money League on 22 January 2026. Although the report is called the 2026 edition, it covers the 2024/25 season, using figures for financial years ending in 2025 unless otherwise stated. Deloitte names all 20 clubs in the ranking, but the official materials cited here do not give a revenue figure for every position. The table therefore shows exact amounts only where Deloitte’s published figures establish them.
| Rank | Club | 2024/25 revenue |
|---|---|---|
| 1 | Real Madrid | Close to €1.2bn |
| 2 | FC Barcelona | €975m |
| 3 | Bayern Munich | €861m |
| 4 | Paris Saint-Germain | €837m |
| 5 | Liverpool | €836m |
| 6 | Manchester City | Not stated (Deloitte, 2026) |
| 7 | Arsenal | Not stated (Deloitte, 2026) |
| 8 | Manchester United | Not stated (Deloitte, 2026) |
| 9 | Tottenham Hotspur | Not stated (Deloitte, 2026) |
| 10 | Chelsea | Not stated (Deloitte, 2026) |
| 11 | FC Internazionale Milano | Not stated (Deloitte, 2026) |
| 12 | Borussia Dortmund | Not stated (Deloitte, 2026) |
| 13 | Atlético de Madrid | Not stated (Deloitte, 2026) |
| 14 | Aston Villa | Not stated (Deloitte, 2026) |
| 15 | AC Milan | Not stated (Deloitte, 2026) |
| 16 | Juventus | Not stated (Deloitte, 2026) |
| 17 | Newcastle United | Not stated (Deloitte, 2026) |
| 18 | VfB Stuttgart | Not stated (Deloitte, 2026) |
| 19 | SL Benfica | Not stated (Deloitte, 2026) |
| 20 | West Ham United | Not stated (Deloitte, 2026) |
Club order and the five reported amounts are from Deloitte’s 2026 Football Money League and its 22 January 2026 announcement. “Not stated” means an amount is not provided in those materials; it does not mean the club had no revenue.
What “richest” means in this ranking
The Money League ranks clubs by revenue generated through three broad streams: matchday, broadcast and commercial income. It does not rank their profit, debt, cash holdings, asset values, squad valuations or owners’ wealth. Revenue indicates the money generated over a reporting period; it does not show how much remains after wages, operating costs, interest, tax or transfer spending.
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- Matchday: principally ticketing, corporate hospitality and membership receipts.
- Broadcast: prize money and distributions from domestic and continental competitions, as well as the FIFA Club World Cup.
- Commercial: sponsorship, merchandising, other commercial operations and non-football events.
Deloitte excludes player and coach transfer fees, VAT and other sales-related taxes from the revenue measure. It also makes some adjustments to improve comparisons between clubs. For the definitions and methodology, see Deloitte’s ranking and methodology page.
How much revenue did Europe’s top 20 generate?
The 20 clubs generated a combined €12.4bn in the 2024/25 season, an 11% increase on 2023/24, according to Deloitte’s Sports Business Group. Each of the three revenue streams reached a record level in the report:
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| Revenue stream | Top 20 total, 2024/25 | Share of total |
|---|---|---|
| Commercial | €5.3bn | 43% |
| Broadcast | €4.7bn | Not stated |
| Matchday | €2.4bn | Not stated |
All totals and the commercial share are reported by Deloitte’s Sports Business Group in 2026 for the 2024/25 Money League. Commercial income was the largest stream for the third consecutive year. Its share differed across the ranking: 48% for clubs in the top 10 and 32% for those ranked 11th–20th.
Why the clubs’ positions change
A club’s annual revenue can rise or fall with sporting results, competition participation and commercial activity. Deloitte says Money League clubs played an average of 57 competitive matches in 2024/25, compared with 51 in 2023/24; more matches can create additional opportunities for broadcast distributions and matchday income, though the effect varies by club.
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Competition results and broadcast income
Liverpool ranked fifth and became the highest-revenue English club in Money League history. Deloitte linked its rise to returning to the UEFA Champions League and hosting more non-matchday events at Anfield. Manchester City dropped four places after finishing lower in the Premier League and exiting the Champions League earlier than in the previous season. Manchester United’s broadcast revenue declined year on year, which Deloitte linked largely to the club’s absence from the Champions League and its 15th-place domestic finish.
The FIFA Club World Cup timing effect
Ten Money League clubs took part in the 2025 FIFA Club World Cup. Deloitte reported a 17% broadcast-revenue uplift for those participating clubs. That figure belongs to the report’s financial-year timing: income earned in financial year 2025 is included where relevant, while some Club World Cup prize money earned in financial year 2026 falls outside this edition.
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Commercial activity beyond match days
Commercial revenue depends on more than results. Deloitte points to sponsorship, merchandising, stronger retail performance and using stadiums for more non-football events as contributors to growth. It also identifies improved merchandise performance as part of Real Madrid’s commercial growth. The ranking’s commercial category can include many kinds of activity, so a larger commercial total does not by itself reveal which individual deal or business line was most important.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the figures and their limitations
The Money League is useful for comparing revenue generation across clubs in a common annual ranking, but the underlying reporting is not perfectly uniform. Deloitte says club classifications are not wholly consistent and that it adjusts some figures to improve comparability. Reporting perimeters can differ too: some club groups include other sports, and women’s-team revenue may be reported separately.
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Deloitte states that it did not audit or independently verify the financial statements or other direct sources used for the publication. It also excludes clubs when it lacks sufficient revenue information. Treat the results as Deloitte’s compilation and comparison of reported financial information, not as audited accounts prepared on an identical basis for every club.
As Tim Bridge, lead partner in Deloitte’s Sports Business Group, put it: “This year’s Money League showcases the evolving commercial landscape of elite football, with clubs continuing to take greater ownership of their revenue-generating capabilities.” The statement appears in Deloitte’s announcement of the 2026 Money League.
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