Real Madrid became the first football club in history to pass €1 billion in annual revenue, and they've now done it two years running, a milestone no other football club has come close to matching. Here's the full list of the world's richest clubs by revenue, why Premier League clubs dominate the middle of the table, and why this list isn't quite the same thing as a club's overall value.

The top 9 by revenue

Rank	Club	Revenue (2024/25)
1	Real Madrid	€1,161m
2	FC Barcelona	€975m
3	Bayern Munich	€861m
4	Paris Saint-Germain	€837m
5	Liverpool	€836m
6	Manchester City	€829m
7	Arsenal	€822m
8	Manchester United	€793m
9	Tottenham Hotspur	€673m

Figures are from Deloitte's Football Money League 2026 report, based on each club's 2024/25 financial year.

Real Madrid's billion euro season

Real Madrid generated close to €1.2 billion in revenue in 2024/25, up 11% on the year before, making them the first club in football history to clear the €1 billion mark, and they've now done it in consecutive years. That figure comes from a mix of matchday income at the redeveloped Santiago Bernabéu, which now hosts concerts and other non-football events year round, plus broadcast revenue from their consistent presence deep in the Champions League, and a commercial operation built around one of the most recognizable brands in world sport. No other club is within €150 million of them, and this is now Real Madrid's third straight year topping the Money League overall, part of a run that's seen them hold the top spot 12 times in the report's history, more than any other club by a wide margin.

PSG's Qatari-funded rise

Paris Saint-Germain's €837 million in revenue looks almost unremarkable next to the top three today, but the scale of the club's growth is still extraordinary: PSG generated just €101 million in the year before Qatar Sports Investments took majority control in 2011, meaning revenue has grown more than eightfold in a little over a decade. QSI, backed by the Qatari state, still owns roughly 87.5% of the club, and under their ownership PSG has won 30 trophies including a record 11th Ligue 1 title, while also becoming one of the most aggressively marketed sports brands anywhere in the world, with a commercial strategy explicitly built around cracking the North American market.

Barcelona's recovery

Barcelona sit 2nd with just under €975 million, a genuinely remarkable turnaround for a club that spent much of the early 2020s in serious financial distress, at one point unable to register new signings under La Liga's spending rules because of the size of their debt. Years of asset sales, cost-cutting and a gradual return to full Champions League football have pulled the club's finances back toward the top of the world game, even while the long-delayed renovation of the Camp Nou has limited matchday income during construction.

Why Premier League clubs dominate the middle of the list

Five of the top nine clubs on this list, Liverpool, Manchester City, Arsenal, Manchester United and Tottenham, are Premier League sides, and Deloitte's broader top 10 has six Premier League clubs in it overall. That's almost entirely down to the value of the Premier League's domestic and international broadcast deals, which are shared more evenly across all 20 clubs and negotiated collectively in a way that consistently outpaces the other major European leagues. A mid-table Premier League finish today can still generate more broadcast revenue for a club than a top-four finish in several other leagues, which is why English clubs cluster so heavily through the middle of this ranking even without a single English side at the very top.

Revenue vs. valuation: two different lists

It's worth being clear about what this list actually measures. Deloitte's Money League ranks clubs by annual revenue, the money a club actually brings in each year from matchday, broadcast and commercial sources, not by overall value or net worth. A separate kind of ranking, valuation, tries to estimate what a club would be worth if it were sold outright, accounting for things like brand value, stadium assets, and future earning potential, and outlets like Forbes and Sportico publish their own versions of that list each year. The two rankings often broadly agree at the very top, since Real Madrid and Barcelona tend to rank highly on both, but they can diverge further down the list, since a club with a newer stadium or a wealthy ownership group can carry a high valuation without necessarily topping the annual revenue charts.

What actually counts as revenue

Deloitte splits club revenue into three buckets: matchday income (ticket sales, hospitality and other stadium revenue), broadcast income (a club's share of domestic and international TV deals, plus prize money from European competition), and commercial income (sponsorships, merchandising and other partnerships). Across all the clubs on the full Money League list, commercial income passed €5 billion for the first time in 2024/25, broadcast revenue reached €4.7 billion, and matchday revenue hit €2.4 billion, for a combined total of €12.4 billion, up 11% on the previous year. Commercial income has become the single largest and fastest-growing category, which is a big part of why clubs increasingly chase shirt sponsorships, stadium naming rights and pre-season tours to markets like the US and Asia as aggressively as they do.

Who's just outside the top 9

Chelsea, Juventus and Borussia Dortmund typically round out the next few spots on the full Money League table, each generating several hundred million euros in annual revenue without quite reaching the scale of the clubs above them. Chelsea's position has been especially volatile in recent years, swinging up and down the list depending on transfer activity, Champions League qualification, and results from the club's new US-focused ownership group, a reminder that a single strong or weak season can move a club several places even at the very top end of the sport's finances. Juventus and Dortmund, by contrast, have stayed relatively steady just outside the very top tier for years, each anchored by a large, loyal domestic fanbase rather than the kind of sudden ownership-driven revenue spike that's reshaped clubs like PSG or Manchester City.

Why this list changes so slowly at the top

The clubs at the very top of this list tend to stay there because revenue compounds: a club that earns more can spend more on players, which tends to produce better results, which drives more broadcast and prize money, more global fans, and more commercial revenue, which funds the next round of spending. Breaking into the true top tier from outside almost always requires either sustained success on the pitch over many years, like Manchester City's rise following its 2008 takeover, or a genuinely enormous one-off investment that fundamentally changes a club's global profile, which is part of why this list has looked broadly similar, give or take a couple of positions, for the better part of a decade.

See how these clubs' European campaigns are financed in our Champions League new format explained guide, and get ready for the new season in our Premier League 2026/27 preview.

For Deloitte's full Football Money League report, see Deloitte.com.

FAQ

What is the richest football club in the world?

Real Madrid, with revenue of €1.161 billion in 2024/25, the first club in history to pass €1 billion, and their second straight year above that mark.

How many Premier League clubs are among the world's richest?

Five of the top nine by revenue (Liverpool, Manchester City, Arsenal, Manchester United and Tottenham), and six in Deloitte's full top 10.

Is this list the same as a ranking of the most valuable football clubs?

No. This ranks annual revenue. Valuation rankings, like those published by Forbes, estimate what a club would be worth if sold, and can produce a different order.

How is club revenue actually measured?

Across three categories: matchday income, broadcast income (including prize money), and commercial income from sponsorships and merchandising.

Why is Barcelona 2nd despite recent financial problems?

Years of cost-cutting, asset sales and a return to consistent Champions League football pulled their finances back toward the top of the game, even with matchday income limited by ongoing stadium construction.

How much total revenue do the world's richest football clubs generate?

The clubs on Deloitte's full Money League generated a combined €12.4 billion in 2024/25, up 11% on the year before.

Why do Premier League clubs earn so much more than clubs in other leagues at a similar level?

The Premier League's domestic and international broadcast deals are worth more, and are shared more evenly across all 20 clubs, than those of most other major European leagues.

How many times has Real Madrid topped the Deloitte Money League?

12 times overall, including the three most recent editions in a row, more than any other club in the report's history.

How much has PSG's revenue grown since Qatar Sports Investments took over?

More than eightfold, from around €101 million the year before the 2011 takeover to €837 million today.