Manchester United's finances took a brutal hit after a string of footballing failures
Ruben Amorim gestures
Manchester United's on-pitch failures have impacted their finances(Image: Getty Images)
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Manchester United endured a significant drop in their Deloitte Football Money League ranking. The 29th edition of the Money League, released by the Deloitte Sports Business Group, revealed the top 20 highest revenue-generating football clubs for the 2024/25 season.
The clubs collectively set a new record by generating an unprecedented £10.4billion (€12bn) in revenue. This staggering figure represents an 11% increase across all three main revenue streams: commercial revenue, matchday revenue and broadcast revenue, compared to the previous season.
The top four positions were held by some of Europe's footballing giants, with Real Madrid retaining their spot after earning nearly £1bn (€1.2bn). They were closely followed by Barcelona, who generated £849million (€975m), and Bayern Munich, who earned £750m (€861m).
Paris Saint-Germain was the only Ligue 1 club to feature on the list, ranking fourth with a revenue of £729m (€837m) last year. Manchester United experienced a dramatic fall from fourth to eighth in the Money League following a historically poor campaign last season.
United's revenue last year sat at £691m (€793m) but it was their broadcast revenue that plummeted from £224m (€258m) to £179m (€206m) after they failed to qualify for European football. They also finished 15th in the Premier League - their worst domestic performance in 35 years.
The club's disappointing on-field performances continued into this season which led to the sacking of Ruben Amorim earlier this month after 14 months in charge. In contrast, rivals Liverpool became the highest revenue-generating English club for the first time, earning £728m (€836m) following their historic title-winning campaign last year.
Manchester United minority shareholder Sir Jim Ratcliffe, CEO Omar Berrada and Technical Director Jason Wilcox.
Manchester United's rankings drop and loss of revenue won't spell good reading for Sir Jim Ratcliffe(Image: Jacob King/PA Wire)
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The 2024/25 season proved to be a financially rewarding one for Liverpool, with their revenue boosted by their return to the UEFA Champions League. The club also enjoyed a 7% rise in commercial revenue due to additional non-matchday events at Anfield.
The list was dominated by English clubs, with nine top-flight teams making the cut. Liverpool were followed by Manchester City, who slipped four places to sixth as their revenue dropped to £722m (€829m).
City had an unusually early exit from the Champions League, being eliminated in the knockout phase play-offs, and finished third domestically - their lowest position since Pep Guardiola took over ten years ago.
Ruben Amorim looking dejected
Ruben Amorim was sacked earlier this month(Image: Getty Images)
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Four Premier League clubs ranked from seventh to tenth, with Arsenal's earnings of £722m (€821m) placing them just behind Manchester United. Tottenham Hotspur came in ninth, generating £585m (€672m), despite finishing 17th in the league, but they did break their 17-year trophy drought by winning the Europa League.
Their London rivals Chelsea maintained their tenth position due to their return to the Champions League and victories in the Conference League and FIFA Club World Cup. The Blues' trophy haul contributed to their 24/25 revenue of £509m (€584m).
Aston Villa climbed four places from last year to 14th in the rankings after reaching the Champions League quarter-finals in the 24/25 season, earning a total of £392m (€450m).
Newcastle United may not have seen a significant financial boost from their Carabao Cup final victory last season, but they still made the Money League list, albeit dropping two places from the previous year. The club's revenue was £346m (€398m).
West Ham, who are currently facing the threat of relegation, remain one of Europe's highest-earning clubs, although they dropped from 17th to 20th place compared to last year. Their revenue of £242m (€278m) was impacted by their 14th-place finish in the league and the absence of European football for the first time in four seasons.