January 19 – Arsenal and Chelsea are the biggest revenue generating women’s teams with more than €25 million in revenue last year, followed by Barcelona with €22 million.
Manchester City and Manchester United complete the top five with the top 15 clubs for the first time topping £150 million in cumulative revenue at €158 million, a 34% increase on the previous year.
The Deloitte’s Women’s Club Revenue Ranking is now in its fourth edition and focuses on the club markets of England, France, Germany, Italy, Spain, Portugal, Norway, Brazil and Japan. Clubs from the NWSL in the US, Australia and Sweden were not included as no data was available to the Deloitte’s team.
Women’s Super League (WSL) clubs dominate the ranking with eight clubs in the top 15, seven of them in the top ten.
In terms of match day income, Arsenal Women lead the way with €7 million, almost double that of Chelsea’s €3.6 million. Barcelona posted €3.9 million in match day income.
Chelsea led the way in commercial income with €19.1 million, followed by Barca’s €16.3 million and Arsenal’s €16.2 million.
Arsenal, topping the ranking for the first time, saw a revenue increase of 43% from the previous season. Cumulatively, the top three clubs represent 46% of the revenue of the top 15.
“These three clubs all won major trophies during the 2024/25 season, and generated average revenue of €24.3 million – more than treble the average revenue generated by the rest of the top 15 clubs analysed (€7 million),” note the report authors.
Jennifer Haskel, knowledge and insight lead in the Deloitte Sports Business Group, said: “The topline revenue growth across women’s football clubs reflects the ongoing innovation and commercially focussed mindset in some of the games’ leading markets. 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.
“As average revenues reach a new high, there is a meaningful gap forming between the top ranked clubs and the rest of the pack. However, what is clear across the ranking, is that there is no one-size-fits-all blueprint for how to reach and engage fans, or how to deliver on a club’s business objectives.”
Deloitte’s find that commercial revenue is the main driver of growth, comprising almost three quarters (72%) of the top 15 clubs’ total revenue. Average matchday revenue generated by the top 15 clubs increased from €1.3 million in 2023/24 to €1.5 million in 2024/25, an increase of 15%.
Deloitte’s also point out that amongst the top 15 clubs, broadcast revenue declined by 6% to €1.3 million on average in 2024/25, now representing 13% of total revenue.
European and international competition revenues is becoming increasingly important. Manchester City Women (4th, €12.9m) saw revenues increase 63% after returning to the UWCL knockout stages for the first time since 2020/21.
The report authors also highlight FC Bayern Frauen (8th, €7.2 million) who were one of four top 15 clubs to compete in the inaugural World Sevens Football tournament, and receiving €2.3m in prize money.
“Whilst growth has developed significantly in women’s football in recent years, the shift from the start up phase to the established phase requires consistent time, investment, and effort to develop the foundations in the right manner,” said Haskel.
“As further milestones are hit, including new and expanded competitions on the biggest stages, industry leaders must continue to innovate, while also protecting the wants and needs of fans and players to foster a more sustainable future for the game.”
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