MANCHESTER: Real Madrid remained the highest-earning club in world football in the 2024-25 season, while Liverpool generated the most revenue in the Premier League for the first time, according to an annual financial list released on Thursday.
The Spanish club topped Deloitte’s Football Money League with €1.16 billion in revenue, despite failing to win La Liga or the Champions League. The only club to earn more than $1 billion over the past two seasons, Real enjoyed a huge 23% increase in commercial revenue – driven by merchandise and corporate partners – in 2024-25 to €594 million, according to Deloitte figures.
Its eternal rival and reigning La Liga champion Barcelona comes in second with €975 million. Bundesliga champions Bayern Munich placed third with €861 million, ahead of Champions League winners Paris St-Germain with €837 million.
Liverpool’s fifth place in the world rankings, with €836 million in revenue from their Premier League-winning season, is the best performance of any English club in the ranking’s 29-year history. Manchester City falls to sixth place with 829 million euros, followed by Arsenal with 822 million.
Manchester United, who finished 15th in the Premier League last season, fell from fourth to eighth place in terms of revenue with €793 million – their lowest ever position in the Money League.
Deloitte has noted that United’s revenue outlook for the current season will deteriorate due to their absence from European competition and their early eliminations from the FA Cup and League Cup.
Six Premier League teams are in the world’s top 10, with Tottenham ninth with 673 million euros and Chelsea 10th with 584 million.
In total, the revenues of the top 20 clubs increased by 11%, reaching a record €12.4 billion. Commercial revenue increased to €5.3 billion, driven by increased use of the stadium on non-match days, increased sponsorship deals and improved retail operations.
Published in Dawn, January 23, 2026
