Football: Latest Deloitte Football Money League Report
By Prof Dr Ian Blackshaw
According to the latest edition of the Deloitte Football Money League Report, Liverpool FC have become the top-earning English Premier League football club for the first time.
The club won the English top-flight title last season and generated €836 million, which is more revenue than any other English football club.
On the other hand, Manchester United FC fell to their lowest ever position.
Real Madrid FC again lead the Deloitte Football Money League with revenue of €1.2 billion, despite not winning the European Champions League or La Liga last season.
Barcelona FC are in second place, returning to the top three for the first time since the 2019-20 season, after generating revenue of €975 million, despite playing away from their Nou Camp stadium last season whilst it was being renovated.
Bayern Munich FC are third with revenue of €861 million, whilst European Champions League winners Paris St-Germain are fourth with revenue of €837 million and Liverpool FC are in fifth position with revenue of €836 million.
Manchester City FC have fallen from second to sixth position, with revenue of €829 million.
Manchester United FC, who finished fifteenth in the English Premier League and were beaten by Tottenham in the Europa League final, are down from fourth to eighth position with revenue of €793 million.
The club have been in top position in the Deloitte Money league on 10 previous occasions, the last in 2017.
Their matchday revenue will also suffer this season as they are not involved in European competitions and have already been knocked out of the FA Cup and League Cup at the first hurdle.
The Deloitte Sports Business Group lead partner, Tim Bridge, commented:
"If you went back 10 or 15 years, and you looked at Manchester United's matchday revenue it was the industry leader."
And added:
"If you looked at their ability to generate commercial revenue, it was the benchmark by which everybody then went to market and set their strategy. I don't think that remains the case."
The other English football clubs in the top 10 are: Arsenal FC, with revenue of €822 million, in seventh position; Tottenham FC, with revenue of €673 million, in ninth position; and Chelsea FC, with revenue of €584 million in tenth position.
Three other English football clubs are in the top 20: Aston Villa, with revenue of €450 million, in fourteenth position; Newcastle United FC, with revenue of €400 million, in seventeenth position; and West Ham United FC, with revenue of €276 million, euros, in twentieth position.
As regards the women’s game, Arsenal FC generated the most revenue of any women's football club in 2025, according to the latest Deloitte Football Money League Report, moving from second to first position with revenue of €24.6 million, an increase of 43% on 2024.
Chelsea FC were in second position with revenue of €24.4 million, with last year's leaders, Barcelona FC, in third position.
In total, the top 15 women’s football clubs generated a record €152.1 million, up 35.5% on the previous year.
For a second consecutive year, English women’s football clubs have dominated, with eight Women's Super League teams in the top 15.
Jennifer Haskell, the knowledge and insight lead at Deloitte Sports Business Group, remarked:
"The women's game is beginning to carve its own path with new and expanded brand partnerships, new ticketing strategies, and dedication to truly understanding the evolving fanbase."
And added:
"The topline growth reflects the innovation and commercially focused mindset in some of the game's leading markets."
Prof Dr Ian Blackshaw may be contacted at ‘
