According to Deloitte’s Money League analysis, Spanish football giants Real Madrid made history as the first football club to surpass €1 billion in annual revenue. The club recorded a staggering €1.05 billion in revenue during the 2023/24 season, a campaign that saw them win both La Liga and the UEFA Champions League.
While Real Madrid led the pack, they were not the only club experiencing significant financial growth. Collectively, the top 20 clubs in Deloitte’s Money League amassed a record €11.2 billion in revenue during the 2023/24 season, marking a 6% increase from the previous year.
Manchester City retained their position as the highest revenue-generating English club, with earnings of €838 million. The revenue gap between Real Madrid and Manchester City was a record €208 million—the largest ever recorded (the previous record was €84 million in 2018/19).
Tim Bridge, lead partner in Deloitte’s Sports Business Group, noted:
“Club stadia are increasingly being valued as more than just matchday assets, with many clubs transforming their grounds into multi-use entertainment venues that attract new visitors, sponsors, and retail opportunities.”
The Premier League leads the Money League, with nine clubs in the top 20. Alongside the “Big Six” (Manchester United, Liverpool, Arsenal, Chelsea, Tottenham, and Manchester City), Newcastle United, West Ham, and Aston Villa also featured prominently.
Arsenal’s return to the UEFA Champions League played a pivotal role in their financial resurgence, allowing them to finish ahead of both Liverpool and Chelsea for the first time since the 2016/17 season.
La Liga, Ligue 1, and Serie A each have three clubs represented in the top 20, with Real Madrid, Paris Saint-Germain, and AC Milan standing out as the top earners from their respective leagues.
The Bundesliga has the fewest representatives among Europe’s top leagues, with only Bayern Munich and Borussia Dortmund making the list. Notably absent are the reigning Bundesliga champions, Bayer Leverkusen.
Here are the 20 richest football clubs in 2024 according to data released by Deloitte’s Money League
Real Madrid – €1.05 billion
Manchester City – €837.8 million
Paris Saint-Germain – €805.9 million
Manchester United – €770.6 million
Bayern Munich – €765.4 million
Barcelona – €760.3 million
Arsenal – €716.5 million
Liverpool – €714.7 million
Tottenham Hotspur – €615 million
Chelsea – €545.5 million
Borussia Dortmund – €513.7 million
Atletico Madrid – €409.5 million
AC Milan – €397.6 million
Inter Milan – €391 million
Newcastle United – €371.8 million
Juventus – €355.7 million
West Ham United – €322.2 million
Aston Villa – €310.2 million
Olympique Marseille – €287 million
Olympique Lyon – €264.1 million
The average revenue per Deloitte’s Money League club was €560 million, with the breakdown as follows:
Commercial Revenue: €244 million (44%)
Broadcast Revenue: €213 million (38%)
Matchday Revenue: €103 million (18%)
Matchday revenue experienced the fastest growth, increasing by 11% year-on-year to €2.1 billion. This represents the highest matchday revenue in the publication’s history and accounts for 18% of total revenue, the largest share since 2014/15.
This significant growth in matchday revenue can be attributed to factors such as increased stadium capacities, higher ticket prices, and the introduction of premium matchday offerings.
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