Real Madrid, Barcelona Lead Deloitte Rich List; Premier League Clubs Lag
According to Deloitte’s Football Money League report, Real Madrid and Barcelona continued to dominate global football revenues for the 2024-25 season. Real Madrid, for the third consecutive year, topped the list, generating £975 million ($1.309 billion), surpassing Barcelona by over £150 million. Liverpool, while becoming the second English club to exceed £700 million in revenue, ranked fifth globally. This marked a historical moment as it was the first time in 29 years that no English club found a place among the top four in this report.
Revenue Highlights from Top Football Clubs
The financial landscape of football clubs reveals that high revenues do not necessarily equate to profitability. Of the ten clubs on Deloitte’s list that reported full accounts, four experienced pre-tax losses. Notably, Barcelona moved from sixth to second place in the rankings, despite reporting a pre-tax deficit of £7 million on £819 million of income. A significant portion of Barcelona’s revenue included £60 million from the sale of personal seat licenses at the refurbished Camp Nou, a one-time income source.
Commercial Income Surge
Indeed, commercial income has become the primary revenue source for elite clubs. For the 2024-25 season, the top 20 clubs collectively generated £4.46 billion in commercial revenues, an increase from £4.2 billion the previous year. This growth was particularly pronounced among the top ten clubs, which accounted for £226 million of the £261 million rise.
- Real Madrid: £499 million in commercial income
- Barcelona: £438 million
- Bayern Munich: £388 million
- Manchester City: £343 million
- Manchester United: £333 million
- Paris Saint-Germain: £308 million
- Liverpool: £307 million
Broadcast revenues, although eclipsed by commercial growth, still provided a substantial financial backbone amounting to £3.95 billion across the football world. Real Madrid again led broadcast earnings with £281 million, while other notable clubs like Manchester City and Arsenal followed closely.
Concerns for Premier League Clubs
The absence of English clubs in the top four raises concerns. Manchester United, traditionally a financial powerhouse, fell to eighth place despite announcing record revenues last autumn. Their growth has stagnated, enabling rivals to surpass them.
Furthermore, Chelsea, while improving, ranked tenth in overall revenue. Multiple Premier League teams experienced decreases in matchday income, notably Manchester City, Newcastle United, and West Ham. The concerns around stadium expansions and attendance may contribute to future financial instability for these clubs.
Cost Control and Wage Management
Another element of the report highlighted improved cost control among clubs. Of the 18 clubs assessed in both this and the previous year’s report, 13 reduced their wage bills relative to revenues. This reduction brought down the combined wages-to-revenue ratio to 55.5 percent, down from 60.5 percent the previous year.
Despite newfound revenue heights exceeding £10 billion among the top 20 clubs, Deloitte’s insights suggest that the future is not without risks. Many clubs reported losses, and revenue generation from exceptional tournaments like FIFA’s Club World Cup cannot be relied upon annually. Therefore, while the numbers signify growth, they also encapsulate a multifaceted financial narrative in the world of football.
