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The Football Money League records clubs' revenue generation from matchday, broadcast rights and commercial sources
Arsenal, Chelsea, and Tottenham Hotspur were among the highest revenue generating football clubs in the world last season. Together, according to Deloitte's Sports Business Group, they raked in an eye-watering €2,078,400,000 (£1,811,387,952), yet neither of three London clubs featured in the top five of the Football Money League.
According to the 29th edition of the Football Money League, published by Deloitte’s Sports Business Group, the top 20 revenue generating clubs in world football earned over €12bn in revenue for the first time in history.
Arsenal, Chelsea, and Spurs played a key role in the record-breaking year, generating €821.7m (£716.1m), €584.1m (£509.1m), and €672.6m (£586.2m) respectively. Revenue generation from matchday, broadcast rights and commercial sources grew to new heights in Europe, marking an 11 per cent increase across the board.
The Gunners earned €183.1m (£159.5m) from matchdays, €324.6m (£282.8m) in broadcast rights and €314m (£273.5m) in commercial revenue, claiming seventh place in the Money League. Meanwhile, Tottenham raked in €150.5m (£131.1m) from matchdays, €192.4m (£167.6m) in broadcast rights and €329.7m (£287.2m) in commercial revenue.
The Lilywhites couldn't quite surpass their north London rivals, coming in at ninth, but they certainly blew the Club World Cup winners out the water. Chelsea ranked 10th in the Football Money League, banking €103.2m (£89.9m) from matchdays, €241.8m (£210.6m) in broadcast rights and €239m (£208.2m) in commercial revenue.
Real Madrid retained the top spot in the Money League, generating close to €1.2bn (just over £1bn) during 2024/25 campaign. Los Blancos were closely followed by Barcelona (€975m/£849.3m), Bayern Munich (€861m/£750m), Paris Saint-Germain (€837m/£729.1m), and Liverpool (€836m/£728.2m).
The reigning Premier League champions emerged as the highest revenue-generating English club for the first time in Money League history. Manchester City were sandwiched between Liverpool and Arsenal in the table, despite raking in far more than both in broadcast rights and commercial deals.
According to Deloitte's Sports Business Group, commercial revenue (€5.3bn/£4.6bn) remained the greatest revenue source (43 per cent) for clubs for the third consecutive year. For clubs in the top 10, like Arsenal, Chelsea, and Spurs, it accounted for 48 per cent of total revenue.
Broadcast revenue also grew, accounting for 38 per cent of total revenue. Deloitte reckons this was impacted by the FIFA Club World Cup, which Chelsea won in the summer, booting participating clubs' intake by 17 per cent.
The expansion of the UEFA Champions League, UEFA Europa League, and UEFA Conference also contributed to clubs’ revenue growth.
Tim Bridge, lead partner in the Deloitte Sports Business Group, said: "This year’s Money League showcases the evolving commercial landscape of elite football, with clubs continuing to take greater ownership of their revenue-generating capabilities.
"It is no coincidence that the clubs in the top half of the ranking are those with the ability to focus on commercial revenue development, particularly as domestic broadcast rights plateau.
“There is a pivotal shift in some club business models with an increased focus on maximising the impact of their brand and their stadium assets. The presence of on-site breweries, hotels and restaurants is now commonplace and illustrates a strategic move to diversify income and create year-round entertainment destinations.
"This innovative approach is broadening revenue streams significantly, allowing clubs to unlock opportunities far beyond the traditional matchday experience in a drive to secure more sustainable financial futures.”
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