Real Madrid Tops Deloitte Money League with €1.05 Billion

Real Madrid have become the first football club to generate over €1 billion in annual revenue according to Deloitte’s Money League study. The Spanish club earned €1.05 billion (£883 million) in the 2023-24 season, winning both La Liga and the Champions League. Manchester City, who secured a historic fourth consecutive Premier League title, follow in second with £708 million in revenue. Paris St-Germain (£681 million), Manchester United (£651 million) and Bayern Munich (£646 million) round out the top five.

Aston Villa entered the top 20 for the first time, following their return to European competition. The Premier League continues to dominate with nine clubs in the top 20, including Arsenal, Liverpool, Tottenham, Chelsea, Newcastle and West Ham. New clubs Lyon and Brighton also made it to the top 30, marking notable achievements in their respective seasons. The overall revenue for the top 20 clubs rose by 6%, reaching a record £9.47 billion.

Matchday revenue saw the fastest growth, increasing by 11% to £1.77 billion with Real Madrid benefiting significantly from the renovation of their Bernabeu Stadium. Barcelona saw a drop in matchday revenue, falling to sixth place due to playing at a smaller venue while their Nou Camp undergoes redevelopment. Commercial revenue which grew by 10% to £4.14 billion, remains the largest source of income, now making up 44% of total revenue, driven by hosting non-football events like concerts.

Broadcast revenue remained steady at £3.64 billion due to all major leagues being in the same domestic broadcast cycle. In the women’s game, total revenue for the top 15 clubs surpassed €100 million for the first time with Barcelona maintaining their lead at £15.1 million. Women’s football continues to see rapid growth with rising matchday attendances and commercial opportunities.