Short answer: Real Madrid lead the Deloitte Football Money League for 2024/25 with revenue of €1,161m, ahead of Barcelona (€974.8m) and Bayern Munich (€860.6m). The top 20 clubs earned a record €12.4bn between them, 11% more than the year before. Deloitte ranks clubs on matchday, broadcast and commercial income and reports in euros only.
Real Madrid top the Deloitte Football Money League 2026 with revenue of €1,161m in 2024/25, the only club above €1bn for the second year running. Barcelona are second on €974.8m and Bayern Munich third on €860.6m. The top 20 clubs together made a record €12.4bn, up 11% from €11.2bn and the first total above €12bn, according to Deloitte’s press release.
This page explains how the Money League works and lists the top 20 clubs with their revenue, rank changes and split between matchday, broadcast and commercial income. It also covers ranks 21 to 30, what Deloitte counts and leaves out, and when the next edition is due. Deloitte gives club figures in euros only, so we do too. It states a rate of €1 = £0.84 (12-month average at the clubs’ year ends), but it publishes no pound figure for any club. We will update this page each January when a new edition appears.
Which clubs are in the Deloitte Football Money League top 20 for 2024/25?
| Rank | Club | Revenue 2024/25 (€m) | Revenue 2023/24 (€m) | Change | Rank change vs 2025 edition |
|---|---|---|---|---|---|
| 1 | Real Madrid | 1,161 | 1,045.5 | +11% | = |
| 2 | FC Barcelona | 974.8 | 765.2 | +27% | +4 |
| 3 | Bayern Munich | 860.6 | 765.4 | +12% | +2 |
| 4 | Paris Saint-Germain | 837 | 805.9 | +4% | −1 |
| 5 | Liverpool | 836.1 | 714.7 | +17% | +3 |
| 6 | Manchester City | 829.3 | 837.8 | −1% | −4 |
| 7 | Arsenal | 821.7 | 716.5 | +15% | = |
| 8 | Manchester United | 793.1 | 770.6 | +3% | −4 |
| 9 | Tottenham Hotspur | 672.6 | 615 | +9% | = |
| 10 | Chelsea | 584.1 | 545.5 | +7% | = |
| 11 | Inter Milan | 537.5 | 391 | +37% | +3 |
| 12 | Borussia Dortmund | 531.3 | 513.7 | +3% | −1 |
| 13 | Atlético de Madrid | 454.5 | 409.5 | +11% | −1 |
| 14 | Aston Villa | 450.2 | 310.2 | +45% | +4 |
| 15 | AC Milan | 410.4 | 397.6 | +3% | −2 |
| 16 | Juventus | 401.7 | 355.7 | +13% | = |
| 17 | Newcastle United | 398.4 | 371.8 | +7% | −2 |
| 18 | VfB Stuttgart | 296.3 | 165.5 | +79% | New entry |
| 19 | SL Benfica | 283.4 | 224 | +27% | +6 (from 25th) |
| 20 | West Ham United | 276 | 322.2 | −14% | −3 |
Source: Deloitte Football Money League 2026 (29th edition), published 22 January 2026. Revenue covers the financial year ending in 2025, which Deloitte matches to the 2024/25 season. The change column is Deloitte’s own percentage. Where Deloitte’s pages disagree, we have used the figure that fits the rest of the card. Dortmund’s 2026 card labels its 2023/24 revenue as €531.7m, but its own change figure (+€17.6m) and Deloitte’s 2025 edition both point to €513.7m, so we show €513.7m. Barcelona’s 2023/24 revenue is shown as €765.2m, the figure restated in the 2026 edition. The 2025 edition printed €760.3m, and Barcelona’s +27% uses the restated figure. Rank change compares each club with its position in the 2025 edition (2023/24 season). Stuttgart were not in the 2025 top 20. Benfica were 25th in that edition’s ranks 21 to 30.
How is the top 20’s revenue split between matchday, broadcast and commercial?
| Rank | Club | Matchday (€m) | Broadcast (€m) | Commercial (€m) |
|---|---|---|---|---|
| 1 | Real Madrid | 233 | 335 | 594 |
| 2 | FC Barcelona | 210 | 243 | 522 |
| 3 | Bayern Munich | 147 | 252 | 461 |
| 4 | Paris Saint-Germain | 177 | 293 | 367 |
| 5 | Liverpool | 150 | 321 | 366 |
| 6 | Manchester City | 89 | 332 | 408 |
| 7 | Arsenal | 183 | 325 | 314 |
| 8 | Manchester United | 191 | 206 | 397 |
| 9 | Tottenham Hotspur | 150 | 192 | 330 |
| 10 | Chelsea | 103 | 242 | 239 |
| 11 | Inter Milan | 108 | 277 | 153 |
| 12 | Borussia Dortmund | 95 | 227 | 209 |
| 13 | Atlético de Madrid | 80 | 219 | 156 |
| 14 | Aston Villa | 80 | 287 | 83 |
| 15 | AC Milan | 87 | 161 | 163 |
| 16 | Juventus | 65 | 177 | 160 |
| 17 | Newcastle United | 68 | 192 | 139 |
| 18 | VfB Stuttgart | 70 | 121 | 106 |
| 19 | SL Benfica | 63 | 148 | 72 |
| 20 | West Ham United | 47 | 158 | 71 |
Source: the club cards in Deloitte’s 2026 report. The values are Deloitte’s rounded figures, so a row may not add exactly to the total in the main table. Deloitte notes that some charts may not sum due to rounding. Paris Saint-Germain’s broadcast figure includes €50m of income from CVC’s investment in MediaCo, a commercial subsidiary of the French Professional Football League, according to Deloitte’s card.
What do the 2024/25 Money League figures show?
Real Madrid stay clear at the top
Real Madrid’s €1,161m is €186.2m more than Barcelona’s €974.8m (our calculation). Their commercial revenue of €594m alone would put them in the overall top 10, Deloitte says. Their €233m matchday income would still rank as the second highest ever for a Money League club.
Barcelona climb four places
Barcelona rose from sixth to second, up 27% on the restated 2023/24 figure. They are back in the top three for the first time since 2019/20. Deloitte says personal seat licences generated a one-off c.€70m. Bayern are also in the top three for the first time since 2020/21.
Commercial income is now the biggest stream
Commercial revenue reached €5.3bn, 43% of the total and the first stream to pass €5bn. Broadcast was €4.7bn (38%) and matchday €2.4bn (19%). Matchday grew fastest, by 16%, for the fourth year running. Commercial made up 48% of revenue for the top 10 clubs but 32% for clubs ranked 11th to 20th. Broadcast was 49% for clubs 11 to 20 and about a third for the top 10.
Liverpool top England, Manchester clubs slip
Liverpool, on €836.1m, are the highest-earning English club in the Money League for the first time. This is not a record for an English club, because Manchester City made €837.8m in 2023/24. City fell 1% to sixth and Manchester United dropped four places to eighth, which Deloitte calls their lowest ranking in Money League history. Aston Villa grew 45% to 14th and Stuttgart grew 79%, the biggest rise in the top 20.
Which leagues have the most clubs in the top 20?
This is our count from Deloitte’s list, which Deloitte does not print as a table. The Premier League has 9 clubs, LaLiga 3, the Bundesliga 3, Serie A 3, Ligue 1 1 and Liga Portugal 1. The nine Premier League clubs made €5,661.5m between them, 45.6% of the €12,410m we get by adding the 20 club figures (our calculation). For what the English and Spanish clubs spend on players, see our guides to Premier League clubs’ wage bills and LaLiga clubs’ wage bills.
Deloitte notes that 2024/25 is the first time since 2021/22 that only one French club made the list. Benfica are the first club from outside the big five leagues since 2020/21, when Zenit St Petersburg appeared.
Which clubs rank 21 to 30 in the Money League?
| Rank | Club | Revenue 2024/25 (€m) |
|---|---|---|
| 21 | Galatasaray | 273.6 |
| 22 | Eintracht Frankfurt | 269.9 |
| 23 | Brighton & Hove Albion | 238.7 |
| 24 | Everton | 234.0 |
| 25 | Crystal Palace | 232.5 |
| 26 | AFC Bournemouth | 218.5 |
| 27 | AS Roma | 216.3 |
| 28 | Fenerbahçe | 216.0 |
| 29 | Wolverhampton Wanderers | 206.3 |
| 30 | Brentford | 206.0 |
Deloitte published only revenue for these ten clubs, with no rank changes or revenue splits. It revised this table after publication. Galatasaray and Fenerbahçe were added because more information became available, and Flamengo and Marseille fell outside ranks 21 to 30.
What does the Money League count and exclude?
Deloitte ranks clubs on revenue from three sources. Matchday income is mostly gate receipts, including tickets and corporate hospitality, plus membership revenue. Broadcast revenue includes prize money and distributions from domestic leagues and cups, UEFA and other continental club competitions, and the FIFA Club World Cup. European runs therefore matter: UEFA’s distributable funds rose to €3.3bn in 2024/25, and our guide to Champions League prize money shows how the Champions League share is split. Commercial revenue includes sponsorship, merchandising, other commercial operations and non-football events.
- Excluded: player and coach transfer fees, VAT and other sales taxes. Player-sale income is not in the ranking.
- Accounts basis: Deloitte uses each club’s or group’s annual financial statements, or other direct sources, for the financial year ending in 2025. Income relating to other periods is excluded.
- Adjustments: in a few cases Deloitte adjusts totals or reclassifies revenue to make clubs more comparable. Insurance payments tied to club operations, such as player health, are included.
- Other sports and women’s teams: revenue from other sports such as basketball may be included. For some clubs the women’s team is a separate entity and its revenue may not be included.
- Club World Cup: money earned in the financial year ending 2025 is included. Prize money earned in the financial year ending 2026 is not.
- Figures as the clubs report them: Deloitte says it has not checked the financial statements and other sources it uses. A club with no or too little information is left out.
When is the next Money League?
Deloitte had not announced a date for the 2027 edition when we checked on 28 October 2026. It published the last three editions on 25 January 2024, 23 January 2025 and 22 January 2026. The 2022 edition came out in March 2022, so late January is the recent pattern rather than a fixed rule. This page will be updated when the 2027 edition is published.
How we built this
All figures come from Deloitte’s own Money League pages on deloitte.com, including the club cards embedded in its 2026 report, the press releases and the 2025 edition. We checked them on 28 October 2026. Our own calculations are the €186.2m gap between Real Madrid and Barcelona, the Premier League total and share, and the league club counts. We used no estimates or media reports, and we did not convert any club figure to pounds. Deloitte publishes the 2026 report as a web page, and we found no PDF.
Frequently Asked Questions
Who is top of the Deloitte Football Money League?
Real Madrid, with revenue of €1,161m in 2024/25, according to Deloitte’s 2026 edition. They were the only club above €1bn for the second year running.
What does the Money League measure?
It ranks clubs by revenue from matchday, broadcast and commercial sources. It excludes player transfer fees, VAT and other sales taxes, and it does not rank attendances or on-pitch results.
How much did the top 20 clubs earn in total?
A record €12.4bn in 2024/25, up 11% from €11.2bn in 2023/24, according to Deloitte. It was the first time the top 20 passed €12bn.
Are the Money League figures in pounds?
No. Deloitte gives club revenues in euros only. It states that it used €1 = £0.84, the 12-month average at the clubs’ year ends, but it publishes no club figure in pounds.
When does the next Money League come out?
Deloitte has not announced a date for the 2027 edition. The last three came out on 25 January 2024, 23 January 2025 and 22 January 2026.
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