
The Deloitte Money League 2025 reports a 11.2bn (euros) generated by clubs with Real Madrid sitting at the top of the league.
For clubs in the league match day revenue was the fastest growing revenue stream, rising by 11% to £1.77bn, helped by an increase in stadium capacity, ticket prices and premium hospitality.
Commercial revenue remains the largest revenue source in the Money League, rising 10% to £4.14bn and accounting for 44% of total revenue, helped by the hosting of non-football live events such as concerts.
Total broadcast revenue remained static at £3.64bn.
Women’s Game
The women’s game is on the move with retail and sponsorship key earners for the top women’s clubs.
Olympique Lyonnais monetised its brand, generating a €27m lump-sum royalty as compensation for granting an initial 50-year license for the ‘Olympique Lyonnais’ brands to OL Féminin.
The ability to generate incremental commercial revenue in recent years through brand activation has enabled the likes of Tottenham Hotspur and Liverpool to maintain a top 10 status.
Deloitte’s analysis of 15 of the leading revenue-generating women’s clubs showed total revenue of more than 100m euros for the first time, rising by 35% to £98m.
Barcelona remain top for the third successive year, with revenue climbing 26% to £15.1m.
Arsenal move from fifth to second with £15.1m overall, including a 64% increase in matchday revenue to £4.3m, helped by hosting six Women’s Super League (WSL) games at Emirates Stadium.
Chelsea are third (£11.3m), Manchester United fourth (£9m) and Real Madrid fifth (£8.9m), with eight WSL clubs in the top 15.
Commercial revenue is the largest revenue source, accounting for 66% of revenue among the top 15 clubs, with broadcast and match day revenues both 17%.
Match day revenue was helped by a rise in attendances, pushing WSL and Women’s Championship cumulative attendance above one million for the first time.
With the exception of Spain’s Liga F, leagues in each of the big five European football markets have a title sponsor.
Future
Looking to the future the report notes that globally 300 sports stadium builds are underway.
Diversifying revenue streams through stadia beyond match days remains key. While focusing upon delivering better experiences for players, artists, fans. Stadia need to continue to be viewed as community assets building upon the needs of the local community.
The report recognises tournament growth will lead to increased revenues but cautions that revenue optimisation has to be balanced against player welfare.
“It is clear that the women’s game is growing rapidly across metrics including and beyond revenue,” said Jennifer Haskel, knowledge and insight lead in Deloitte’s sports business group.
“While women’s clubs have traditionally been compared to, or expected to mirror, the structure and business of men’s clubs, we are seeing a fundamental shift in the recognition of opportunity that stems from embracing key differences.”
Keep an eye out for the Club Days the University of Edinburgh review of Scottish Women’s Football which will be coming out soon.