Image Credits: Imago Images
The Deloitte Football Money League, now in its 29th edition, has once again maps out the shifting finances of the global game.
This eagerly awaited annual study, followed closely by both club executives and supporters, ranks teams according to the revenue they generate from football-related activities in the 2024/25 campaign. Offering a window into the economic strength and commercial appeal of the sport’s elite, the Money League breaks down income from key sources such as matchday takings, broadcasting deals and commercial activity to build a rounded view of each club’s financial performance.
For the first time in the club’s illustrious history, the Reds have emerged as the highest-earning team in England, generating a staggering £728 million (€836 million) in revenue during the 2024-25 season.
The revenue surge was powered by multiple streams. Liverpool recorded an increase in broadcast income following their return to the Champions League, while commercial revenue jumped 7% thanks to non-matchday events at Anfield, including lucrative concert bookings featuring global superstars. The club’s expanded Anfield Road Stand, which boosted capacity beyond 61,000, further enhanced matchday earnings.
However, despite this domestic dominance, Liverpool could only secure fifth place globally in the Money League rankings. Real Madrid claimed the top spot with an eye-watering £975 million in revenue. Barcelona, Bayern Munich, and Paris Saint-Germain filled out the remaining top-four positions, meaning for the first time in the report’s 29-year history, no English club featured in the top four.
Rank Club Revenue
1 Real Madrid £975m
2 Barcelona £819m
3 Bayern Munich £723m
4 Paris Saint-Germain £703m
5 Liverpool £702m
6 Manchester City £697m
7 Arsenal £690m
8 Manchester United £666m
Manchester City slipped from second to sixth place (£697 million), while Arsenal rounded out the top seven (£690 million). The most dramatic fall came from Manchester United, who plummeted to eighth place—their lowest position ever—with £666 million in revenue. United’s absence from the Champions League proved costly, with broadcast income dropping by £43 million.
Liverpool’s wage bill also reached new heights, surpassing £400 million for the first time and making them only the third English club to break that barrier. At approximately £421 million, wages consumed 60% of total revenue, though improved income growth actually reduced their wages-to-revenue ratio from the previous season.
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