Real Madrid have overtaken Manchester City to become the highest revenue-generating football club, according to an analysis by Deloitte.
The 2022–23 season saw Real Madrid achieve a record revenue of 831 million euros (£710 million), securing the top spot in Deloitte’s Money League study.
Manchester City, despite achieving a record revenue of 826 million euros (£705.6 million) through their FA Cup, Premier League, and Champions League Treble success, dropped to the second position.
Revenues for the top 20 football clubs exhibited a substantial 14% increase, reaching a record 10.5 billion euros (£8.97 billion).
This growth included record commercial and matchday revenues, totaling 4.4 billion euros and 1.9 billion euros, respectively. Notably, commercial revenue has now surpassed broadcast revenue as the primary income stream for the first time since 2015-16 (excluding the COVID-19-impacted 2019-20 season).
🚨 𝗢𝗙𝗙𝗜𝗖𝗜𝗔𝗟: The top 20 richest clubs in the world, based on last season's revenue.
📸 @Deloitte pic.twitter.com/gKSbe2dFMJ
— Football Tweet ⚽ (@Football__Tweet) January 25, 2024
Seventeen of the top 20 clubs reported a year-on-year increase in revenue, driven by factors such as retail sales, non-matchday events like concerts, and the recovery of sponsorship income impacted by the pandemic.
The shift in revenue sources suggests a trend where clubs are diversifying to reduce dependence on broadcast deals. Broadcast income experienced a more modest 5% increase to 4.2 billion euros, primarily due to the 2022–23 season falling within existing domestic broadcast cycles.
On average, the top 20 clubs achieved revenues exceeding 500 million euros. Real Madrid, despite finishing second in La Liga and losing to Manchester City in the Champions League semi-final, secured the top position for the first time since 2017–18. Paris Saint-Germain (€802 million), Barcelona (€800 million), and Manchester United (€746 million) completed the top five.
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Liverpool’s slide to seventh place, earning €683 million (£583 million), stems from a mediocre Premier League finish and a Champions League exit.
Tottenham, Chelsea, and Arsenal featured in the top 10, while Newcastle and West Ham settled at 17th and 18th.
In today’s football dynamics, clubs grapple with financial regulations, emphasizing the need to balance on-field triumphs and financial stability.
The Deloitte Football Money League for the 2022/23 season has been published, which reveals that Liverpool's turnover remained almost exactly the same- despite a far less successful season on the pitch (turnover was £594m for both seasons). pic.twitter.com/fuC0AAa5NU
— Mo Chatra (@MoChatra) January 25, 2024
Leicester City, Leeds United, and Everton drop out of the top 20, meaning the number of Premier League clubs drops to eight after at least 10 clubs featured in the past two years.
The Hammers, Liverpool, and Atletico Madrid were the only sides in the top 20 to report a drop in revenue.
Another record-breaking year for Money League clubs represents the ongoing financial might of the football industry.
As clubs navigate the evolving economic and football ecosystem, the emphasis on commercial strategies appears to be a strategic imperative for long-term financial stability.