Football is highly lucrative, with clubs and other stakeholders generating huge revenues from different sources like tickets sales, TV rights, shirt sales, transfers, and sponsorships, among others.
The revenues generated by football clubs increase yearly as more avenues of making money are discovered. But the Covid-19 pandemic significantly affected the finances of most clubs, and they are still recovering from its effects.
While it’s very difficult to ascertain the exact sums that clubs are making, the most reliable source of determining the richest football clubs in the Deloitte Football Money League (DFML) is.
The DFML profiles the financial performance of the highest revenue-generating clubs in world football.
Here are the top 10 richest football clubs in the world in 2024 according to the Deloitte Football Money League rankings.
English Premier League clubs accounted for nearly 50% of the money generated among Europe’s “top twenty” league clubs.
1. Real Madrid (€831.4m)
Real Madrid surpassed Manchester City to become the top revenue-generating football club currently.
The club reported a record revenue of €831 million, reflecting a €118 million increase from the previous year. This growth is primarily driven by robust retail sales and increased stadium attendance, thanks to the relaxation of COVID-19 restrictions.
Like other top European clubs, the coronavirus pandemic affected Real Madrid’s finances which prompted the club to try to form a “Super League” alongside some elite clubs.
Although the plan woefully failed, Madrid still retain their place among the top three in DFML rankings.
Real Madrid made £604.5m in 2022, which is an 11% increase to the £567.3m made in 2021.
Breaking it down; £318m was generated from commercial deals, £308m from broadcast, while £88m was from matchday revenue.
On the pitch, Real Madrid won the La Liga and the UEFA Champions League in 2022. They also lifted the 2022 FIFA Club World Cup and the Copa del Rey in 2023.
Los Blancos are one of the football clubs with the most trophies in the history, recently adding their 15th UEFA Champions League trophy to their cabinet in 2024.
2. Manchester City (€825.9m)
For the first time in history, a club apart from Barcelona, Real Madrid, and Manchester United are in the top of the DFML for three years in a row. The trio have always been occupying the top spot, rotating it among each other.
Manchester City have been shrewd in their businesses in the post-covid era and are now reaping the rewards.
In 2022, City made £619.1m, a 13% increase on the £571.1m made the previous year.
£373m was generated from commercial deals, £294m from broadcast rights and £64m from matchday revenue.
This represents a rapid rise for the club, who only broke into the top 5 richest clubs for the first time in 2015/16.
Moreover, Man City’s massive financial growth in terms of commercial revenue (up £65m to £373m in 2021/22) is a new Premier League record.
The club recorded its highest-ever seasonal revenue at €826 million, spurred by successful UEFA Champions League and Premier League campaigns. These achievements boosted broadcast revenue by €50 million and commercial revenue by €26 million.
The recently-crowned 2023/24 English Premier League champions’ rise could also be attributed to their super-rich Abu Dhabi owners.
There are controversies surrounding the club’s finances, though, as the owners have severally been linked to some of the club’s sponsors (most especially Etihad Airways).
3. PSG (€801.8m)
Despite spending big to sign the likes of Bradley Barcola, Ousmane Dembele, Gianluigi Donnaruma, and Achraf Hakimi, etc in the summer, PSG still remain among the top richest clubs thanks to their super-rich Qatari owners.
They have one of the highest wage bills in Europe.
Paris Saint-Germain (€802 million) entered the top three in the Money League for the first time, surpassing FC Barcelona (€800 million) for the second year in a row.
The club reported a year-on-year revenue increase of €148 million, largely due to its share in the CVC investment into the commercial subsidiary of Ligue de Football Professionnel, which contributed €83.5 million.
Their success in generating revenue can be attributed to their strong commercial partnerships and sponsorships, as well as their ability to attract a global audience through broadcasting.
The significant revenue from matchday sales also highlights the dedication of their fans. Overall, their financial success is a testament to the strength of their brand and their ability to compete at the highest level.
4. Barcelona (€800.1m)
Barcelona were the richest club in 2021 and topped the DFML ranking. But Covid-19 and gross financial mismanagement by the club’s last administration plunged the Catalans into a €1.2 billion debt.
Barcelona terribly fell in the DFML rankings, with the club dropping from 4th (in 2022) to 7th in 2023.
It affected them so much that they couldn’t afford to renew the contract of their greatest player in history, Lionel Messi. The Argentine left the club on a free transfer last two summers.
Barcelona are gradually recovering under their new President, Joan Laporta. They’ve signed a huge financial deal with music streaming giant Spotify, which will make the club rename their iconic stadium to Spotify Camp Nou, among other sponsorship agreements.
In 2022, Barca generated an impressive £540.5m in revenue, representing a 10% increase from the previous year’s £515.4m.
However, their fall on the list of richest clubs in 2023 can be attributed to a 13% decline in broadcast revenues. They generated £251m from TV rights, which was lower than the £290m made in 2021.
The decline in Barcelona’s broadcast revenue can be partially attributed to their underperformance in UEFA club competitions last season, in comparison to previous years.
The club’s embarrassing exit from the Champions League at the group stage in the 2021/22 and 2022/23 seasons are likely to have impacted their broadcast revenue.
However, the Catalan club are one of the richest football clubs in 2024. They made a significant leap from 7th to 4th place, driven by the return of fans to stadiums, record-breaking licensing and merchandising sales, and increased sponsorship revenues. This resulted in a 61% rise in matchday revenue and a 45% boost in commercial revenue.
Nevertheless, Barcelona’s strong brand and global fanbase remain a significant source of revenue for the club.
5. Manchester United (€745.8m)
Manchester United are one of the biggest clubs in the world, and no wonder why the club turns in huge revenues yearly.
But financial mismanagement — especially in player recruitment — is affecting the club, and they dropped out of the top three richest clubs in 2022.
Manchester United made a profit of £583.2m in 2021/22, which is a significant 23% increase compared to the previous year’s profit of £494.1m.
The profit was generated from various sources, including £309m from commercial deals, £254m from broadcast, and £126m from matchday.
Apart from their revenue, Manchester United are also one of the football clubs with the most debts in the world.
6. Bayern Munich (€744m)
The Bavarians are one of the football clubs with the most trophies ever and one of the few elite clubs that rejected the idea of forming a Super League.
Bayern have smartly replaced their ageing squad with younger players without embarking on a spending spree.
Bayern has established a reputation for maintaining a sustainable, consistent and reliable business model over the years.
In 2022, they continued this trend by generating an impressive £553.5m in revenue, representing a 7% increase from the previous year’s £541.4m.
Their success can be attributed to their strong sponsorship partnerships with reputable brands such as Allianz, Adidas, and Audi, which contributed significantly to their commercial revenue of £378m in the last 12 months.
Furthermore, they generated £207m from broadcast rights and £68m from matchday revenue.
7. Liverpool (€682.9m)
Liverpool are very shrewd when it comes to financial planning. The Reds rarely spend excessively in the financial market but always try to identify players that will fit exactly into their system.
Nonetheless, Liverpool experienced the most significant drop in year-on-year rankings, falling from 3rd to 7th place.
They were one of three Money League clubs, along with Atlético de Madrid and West Ham United, to report a revenue decline compared to the previous season.
This decrease was attributed to poorer on-field performances in both domestic and European competitions, following a season where the club reached three finals and finished 2nd in the league in 2021/22.
Looking ahead, Liverpool’s matchday revenue is expected to increase, with the completion of the Anfield Road Stand expansion scheduled for the 2023/24 season. The future is certainly looking bright for Liverpool.
Despite their poor performance in the 2023/24 season, where they got knocked out of the Europa league, Liverpool are still one of the best soccer teams in the world.
8. Tottenham (€631.5m)
Tottenham have significantly improved both on and off the field in the last decade. The club now regularly competes in European competitions and even reached the UEFA Champions League final in 2019, losing to Liverpool.
Tottenham chairman, Daniel Levy, is a very shrewd businessman and always ensures that the club gets maximum profits when selling players and are also smart when recruiting players.
Their financial success continues to grow, with an impressive 29% increase in revenue from the previous year.
In 2022, they generated £442.8m in total revenue, with commercial deals contributing £215m, TV broadcast rights contributing £182m, and matchday revenue contributing £125m.
Tottenham’s new gigantic stadium (which also hosts NFL matches) has been generating huge revenues for the club.
9. Chelsea (€589.4m)
Chelsea might be going through a lot at the moment due to the sanctions on their owner, Roman Abramovich, and the imminent sale of the club. But they still remain in the top 10 in the DFML ranking.
How the club’s new owners invest in it will determine whether the Blues will go up or down next year.
Last season, Chelsea generated an impressive £481.3m in revenue, representing a significant 15% increase from the previous season’s £436.6m.
Their success can be attributed to their strong commercial transactions, which brought in £209m, as well as their broadcast revenue of £277m and matchday revenue of £82m.
Despite finishing 3rd in the Premier League and losing both finals of the FA Cup and League Cup, Chelsea’s run to the quarterfinals of the Champions League helped boost their revenue.
Additionally, Todd Boehly’s new ownership seems determined to continue spending heavily, much like the Roman Abramovich era.
Nonetheless, their poor performance in the Premier League which saw them miss any of the European spots could see Chelsea drop off from the richest football clubs in the world
10. Arsenal (€532.6m)
In a remarkable achievement, Arsenal has crashed into the top 10 richest football clubs in the world for the first time since 2018/19, replacing Juventus, who fell from 9th to 11th.
Arsenal’s financial success can be attributed to their strong commercial revenue streams, which include lucrative sponsorships and partnerships with major brands.
Their ownership by Stan Kroenke, who is worth $8.3 billion, has also provided significant financial backing for the club.
As a result, Arsenal has been able to compete with some of the biggest teams in the world.
In 2022, Arsenal generated £367.1m in total revenue, representing an impressive 18% increase from the previous year’s £324.5m.
Their commercial partnerships contributed £167m, broadcast rights contributed £172m, and matchday revenue contributed £94m.
CLUBS THAT MAKE UP THE TOP 20 RICHEST FOOTBALL CLUBS:
11. Juventus (€432.4m)
12. Borussia Dortmund (€420m)
13. AC Milan (€385.3m)
14. Inter Milan (€378.9m)
15. Atletico Madrid (€364.1m)
16. Eintracht Frankfurt (€293.5m)
17. Newcastle United (€287.8m).
18. West Ham United (€275.1m)
19. Napoli (€267.7m)
20. Olympique Marseille (€258.4m).
While the top 10 clubs have remained the same since the 2021/22 season, notable shifts have occurred between positions 11-20. Eintracht Frankfurt, SCC Napoli, and Olympique de Marseille have replaced Premier League clubs Leicester City, Leeds United, and Everton.
Eintracht Frankfurt climbed to 16th place from 22nd in this year’s rankings, thanks to reaching the UEFA Champions League Round of 16 for the first time in its history.
Serie A clubs AC Milan, FC Internazionale Milano, and SSC Napoli also saw substantial revenue growth due to strong domestic and UCL performances.
SSC Napoli reported an 80% increase in broadcast revenues following their first Scudetto since 1989/90 and a strong UCL showing.
Similarly, AC Milan and FC Internazionale Milano saw revenue increases of 30% and 22%, respectively, after reaching the UCL semi-finals and finals for the first time since 2006/07 and 2009/10.
As you can see, out of the 20 clubs, an impressive 8 are from the Premier League, showcasing the strength of the English teams.
Serie A follow closely behind with four club teams. Meanwhile the Bundesliga and La Liga have three clubs each in the top 20 list.
Olympique Marseille and Paris St. Germain are the two representatives from the French Ligue 1.
Although Juventus remains the wealthiest club in Italy, they have fallen out of the top 10 globally, trailing behind Tottenham and Arsenal from London.
