aFor the world’s richest players, the Premier League ranks higher in terms of numbers, but La Liga ranks higher in terms of money. Nine of the 20 clubs had the highest revenues in the English league’s record season in 2024-2025, with Real Madrid and FC Barcelona once again at the top of the table, with a notable difference compared to the rest. The world’s 20 most powerful football clubs collectively generated revenues of 12.4 billion euros, up 11% year-on-year. Real Madrid maintained its leadership in the ranking for the second year in a row with revenues of nearly 1.2 billion euros. The club thus strengthened its position despite a 6% decline in match revenue, offset by a 23% increase in commercial revenue due to increased merchandise sales and new commercial contracts. This alone brings in €594 million, which puts the club in the top 10 in the world in terms of revenue.
Secondly, Barça is one of the teams that has risen the most in the rankings. The Catalan club moved from sixth to second place with €974.8 million, returning to the top three for the first time since the pandemic season. According to Deloitte’s Football Money League annual report, this 27% year-on-year growth came despite no home games being played at the Spotify Camp Nou last season and is mainly explained by the introduction of Permanent Seating Licenses (PSLs) linked to the stadium redevelopment. Meanwhile, Atlético Madrid also fell one place in the rankings to 13th, but their revenue improved. The club’s revenue increased by 11% to 45 million euros, reaching 454.5 million euros.
The Premier League already accounts for 45% of the top 20.
Among other big league clubs, nine English teams stand out, many of them classic teams from recent years, others supported by strong performances in domestic tournaments and millions of dollars earned from participation in UEFA competitions. Liverpool FC, Manchester City, Arsenal FC, Manchester United, Tottenham Hotspur and Chelsea FC feature in this report, followed by Aston Villa, Newcastle United and West Ham United. The most notable one at the moment is the collapse of United. Its commercial appeal helped it sit in fourth place last season, but it is already weighed down by a poor sporting situation compared to the rest of the Big Six.
Beyond the islands, FC Bayern’s growth was noticeable, with an increase in audio-visual rights income from their participation in the new 2025 FIFA Club World Cup, which saw them climb onto the podium with €860.6 million. Despite winning the Champions League, Paris Saint-Germain (PSG), who earn 837 million euros, have dropped one place to fourth place. The biggest handicap is the collapse of Ligue 1’s audiovisual business. The report also reflects important developments outside of the five major leagues. SL Benfica returned to 19th place in the rankings with €283.4 million thanks to their Club World Cup appearance, becoming the first club from outside the Big 5 to qualify since the 2020-2021 season.
Commercial, big growth foot
Commercial income will once again be the main source of income for elite football, amounting to €5.3 billion in 2024-2025, accounting for 43% of the total. This growth is supported by increased use of the stadium and surrounding areas on non-match days, increased sponsorship and increased sales of official merchandise. In the top 10, this item’s weight increases to 48%. This compares to 32% for clubs ranked 11th to 20th. Matchday is relatively the fastest growing line. Matchday revenue rose 16% year-on-year to €2.4 billion, representing 19% of the total. The report links this progress to new uses for stadiums and the introduction of measures such as permanent seat licenses (PSLs) to enhance the monetization of live experiences.
Audiovisual rights increased 10% and accounted for 38% of total revenue. The main driver was the Club World Cup, which was attended by half of the top 20 clubs, with a 17% increase in audiovisual revenue. The launch of a revamped and increasingly lucrative Champions League also helped.
Setting records in women’s soccer
Finally, there is some good news regarding women’s soccer. Revenue for the top 15 clubs reached 158 million euros, an increase of 35% compared to the previous year. This is the first time that the 150 million euro barrier has been broken. Arsenal came out on top with €25.6m after a 43% increase due to increased investment in data and fan activation, saw attendances exceed 35,000 in five games during the season, and also won the Women’s Champions League. Chelsea Women came in second place with €25.4 million, earning more than anyone else commercially. In third place was FC Barcelona, with 22 million euros, who finished on the podium after another strong performance this season, both in terms of sport and economics.
