Deloitte Football Money League: Real Madrid & Barcelona lead the way in 2025
Real Madrid was the only club to generate more than €1 billion in revenue in 2024/25 according to the 29th edition of the Deloitte Football Money League.
The annual study has revealed the highest revenue generating football clubs globally, and the La Liga giants topped the standings ahead of Barcelona.
The 2024/25 season set a new record, with the top 20 Money League clubs generating over €12 billion in revenue for the first time.
Extending the list to the top 30 clubs paints an intriguing picture, with the Premier League dominating the revenue stakes in Deloitte’s study.
Fifteen out of the 20 Premier Leagues feature in the top 30. Six of those are in the top 10, although their revenues are topped by four other clubs. The top 30 list is as follows:
| Club | League | Revenue | |
| 1 | Real Madrid | La Liga | €1.161m |
| 2 | Barcelona | La Liga | €974.80m |
| 3 | Bayern Munich | Bundesliga | €860.60m |
| 4 | Paris Saint-Germain | Ligue 1 | €837.00m |
| 5 | Liverpool | Premier League | €836.10m |
| 6 | Manchester City | Premier League | €829.30m |
| 7 | Arsenal | Premier League | €821.70m |
| 8 | Manchester United | Premier League | €793.10m |
| 9 | Tottenham Hotspur | Premier League | €672.60m |
| 10 | Chelsea | Premier League | €584.10m |
| 11 | Inter Milan | Serie A | €537.50m |
| 12 | Borussia Dortmund | Bundesliga | €531.30m |
| 13 | Atletico Madrid | La Liga | €454.50m |
| 14 | Aston Villa | Premier League | €450.20m |
| 15 | AC Milan | Serie A | €401.1m |
| 16 | Juventus | Serie A | €401.70m |
| 17 | Newcastle United | Premier League | €398.40m |
| 18 | Stuttgart | Bundesliga | €296.30m |
| 19 | Benfica | Primeira Liga | €283.40m |
| 20 | West Ham United | Premier League | €276.00m |
| 21 | Eintracht Frankfurt | Bundesliga | €269.90m |
| 22 | Brighton & Hove Albion | Premier League | €238.70m |
| 23 | Everton | Premier League | €234.00m |
| 24 | Crystal Palace | Premier League | €232.50m |
| 25 | Bournemouth | Premier League | €218.50m |
| 26 | Roma | Serie A | €216.30m |
| 27 | Wolverhampton Wanderers | Premier League | €206.30m |
| 28 | Brentford | Premier League | €206.00m |
| 29 | Flamengo | Brazilian Serie A | €202.70m |
| 30 | Marseille | Ligue 1 | €188.70m |
Madrid put their rivals in the shade
Madrid generated close to €1.2bn in revenue during 2024/25, with just over half of that figure (€594m) coming via commercial elements such as merchandising and sponsorship.
La Liga rivals Barcelona have climbed back up to second in the standings, with the club reporting a 27 growth in revenue compared to the previous season.
The introduction of Personal Seat Licence arrangements generated around €70m, and is an avenue other European clubs are starting to explore.
Bayern Munich rounded off the top three after moving up from fifth place. Broadcast revenue from the 2025 Club World Cup aided their cause.
Paris Saint-Germain are in the top five for the fourth consecutive year, while Liverpool (5th) topped the standings in the Premier League for the first time in Money League history.
Manchester City’s failure to win the Premier League resulted in them dropping from second to sixth, while local rivals Manchester United have slipped to eighth behind Arsenal.
United’s lowest ranking in Money League history has been triggered by poor on-field performances. Intriguingly, the club reported a combined increase of €75m in matchday and commercial revenues.
Commercial revenues continue to boom
Commercial (€5.3bn), broadcast (€4.7bn) and matchday (€2.4bn) all grew to record levels in 2024/25, and the trend looks guaranteed to continue for the foreseeable future.
The clubs’ commercial represented the most significant proportion of the total revenue for the third consecutive year, producing an average of €265m.
Increased sponsorship, improved retail performance and the use of stadiums on non-matchdays are the primary elements driving the commercial boom in football.
Broadcast revenue increased by 10% in 2024/25 and is a key component for the clubs ranked 11-20 in the Money League standings.
It represents almost half of the total revenue (49%) for clubs in this portion of the table, compared to one third for those in the top 10.
Matchday revenue generated the highest proportional growth (16%) on the back of increased efforts to diversify matchday experiences and the introduction of Personal Seat Licenses.
Commercial revenue has been tipped to become even more important in the future, with broadcast rights now levelling off in some European markets.
The future is bright for the top clubs
Money League clubs’ revenues have risen at a compound annual growth rate (CAGR) of 6% since the 2014/15 season and the boom is showing no signs of abating.
While the primary drivers of the growth continue to evolve, clubs have demonstrated that they are adept at adjusting to shifting market forces.
Capitalising on lucrative opportunities in international markets remains an untapped revenue stream for some clubs and those that fail to recognise this will fall behind their rivals.
Staging regular season games overseas is an option, although clubs must be mindful of the impact this could have on supporters located in their local community.
The post Deloitte Football Money League: Real Madrid & Barcelona lead the way in 2025 appeared first on 11v11.