Real break 1bn euro barrier to top money league

According to Deloitte's analysis, Real Madrid Football Club has become the first football club to surpass €1 billion in annual revenue. The Spanish club leads Deloitte's "Football Money League," with revenue reaching €1.05 billion (approximately £883 million) in the 2023-24 season, during which they won both La Liga and the Champions League titles.

Manchester City once again holds the second position, with revenue of £708 million. Last season, they achieved an unprecedented fourth consecutive Premier League title, and also won the Club World Cup and the European Super Cup. Paris Saint-Germain (£681 million), Manchester United (£651 million), and Bayern Munich (£646 million) round out the top five.

Aston Villa entered the top 20 after their first participation in European competitions since 2011. There are nine Premier League clubs in the top 20, including Arsenal, Liverpool, Tottenham Hotspur, Chelsea, Newcastle, and West Ham United, all maintaining their respective rankings. Lyon is the only new entrant into the top 20, while Napoli and Frankfurt fell out of the list. Additionally, five more Premier League clubs made it into the top 30, with Brighton ranking 21st after their debut in the Europa League. Crystal Palace, Everton, Fulham, and Wolverhampton Wanderers ranked 26th to 29th respectively.

The total revenue of the top 20 clubs grew by 6% to a record £9.47 billion. Matchday revenue was the fastest-growing revenue stream, increasing by 11% to £1.77 billion, boosted by increased stadium capacity, ticket prices, and premium hospitality. Real Madrid benefited the most from the growth in matchday revenue, reaching £210 million, double last year's figure, following the renovation of the Santiago Bernabéu stadium. Barcelona dropped from fourth to sixth after a £53 million decrease in matchday revenue, as matches were played at a smaller venue during the reconstruction of Camp Nou.

Commercial revenue remains the largest revenue source in the "Football Money League," growing by 10% to £4.14 billion, accounting for 44% of total revenue, boosted by non-football live events such as concerts. "Clubs in the Football Money League continue to break records for commercial and matchday revenue," said Tim Bridge, lead partner at Deloitte's Sports Business Group. Total broadcast revenue remained at £3.64 billion, as the top five leagues – the Premier League, Spain's La Liga, Germany's Bundesliga, France's Ligue 1, and Italy's Serie A – are all in the same domestic broadcast cycle.

Deloitte’s analysis of the 15 leading women's clubs by revenue shows that total revenue surpassed €100 million for the first time, growing by 35% to £98 million. Barcelona retained the top spot for the third consecutive year, with revenue increasing by 26% to £15.1 million. Arsenal rose from fifth to second place, with total revenue of £15.1 million, including a 64% increase in matchday revenue to £4.3 million, boosted by hosting six Women’s Super League (WSL) matches at the Emirates Stadium. Chelsea ranked third (£11.3 million), Manchester United fourth (£9 million), and Real Madrid fifth (£8.9 million), with eight WSL clubs in the top 15.

Commercial revenue is the largest revenue source, accounting for 66% of the top 15 clubs' revenue, while broadcast and matchday revenues each account for 17%. The increase in matchday revenue was boosted by rising attendance figures, pushing the cumulative attendance for the WSL and women's championships to over 1 million for the first time. Each league in the top five European football markets, except for Spain's Liga F, has a title sponsor. “It is clear that the women’s game is growing rapidly across all metrics, including revenue,” said Jennifer Haskel, knowledge and insight lead at Deloitte’s Sports Business Group. “While women’s clubs have traditionally been compared to, or expected to mirror the structures and operations of, men’s clubs, we are seeing a fundamental shift towards recognising the opportunities that come from embracing key differences.”