Real Madrid has solidified its position as football’s financial powerhouse, maintaining the top spot in Deloitte’s annual Money League rankings with unprecedented revenue generation during the 2024/25 season. The Spanish giants amassed approximately €1.2 billion ($1.4 billion) despite failing to secure major silverware, demonstrating the club’s remarkable commercial resilience.
The comprehensive redevelopment of Santiago Bernabeu Stadium has emerged as a transformative revenue driver, with commercial operations alone generating €594 million – sufficient to secure a top-ten position independently. Barcelona ascended to second position with €975 million, achieving this milestone while playing their entire season away from Camp Nou due to ongoing redevelopment delays.
German champions Bayern Munich claimed third position with €861 million, narrowly surpassing Paris Saint-Germain whose Champions League victory provided significant financial impetus. The Premier League’s representation remained robust, with Liverpool leading English clubs for the first time following stadium expansion, Champions League participation, and domestic league triumph that collectively boosted revenues to €836 million.
Notable shifts occurred in the rankings as Manchester City descended from second to sixth position following early European elimination and third-place domestic finish. Manchester United fell to eighth behind Arsenal after missing Champions League qualification and finishing 15th in Premier League competition.
Collectively, Europe’s top 20 revenue-generating clubs achieved an 11% revenue increase to €12.4 billion. Deloitte Sports Business Group lead partner Tim Bridge observed: “The ranking’s upper echelon reflects strategic emphasis on commercial revenue development as domestic broadcast rights stabilize. Clubs are fundamentally transforming their business models through brand optimization and stadium asset maximization.”
The emerging trend of multifunctional stadium facilities – incorporating breweries, hotels, and restaurants – demonstrates strategic diversification toward year-round entertainment destinations. The inaugural 32-team Club World Cup significantly influenced rankings, propelling Bayern into top-three positioning for the first time since 2020/21.
In women’s football, Arsenal emerged as highest-earning club for the first time following their Champions League victory, generating €25.6 million to surpass London rivals Chelsea and Barcelona.