Among football’s millionaires, the Premier League is ahead in terms of numbers, but LaLiga is ahead in terms of money. The English league had as many as nine teams among the 20 clubs with the highest revenues in 2024-2025, a record season, but Real Madrid and FC Barcelona, in that order, were once again at the top of the table, with a notable difference compared to the rest. In total, the world’s 20 most powerful football clubs generated 12.4 billion euros in revenue, an 11% year-on-year increase. Real Madrid maintained its leadership of the ranking for the second consecutive year, with revenues close to 1.2 billion euros. The club thus strengthened its position despite a 6% drop in matchday revenue, offset by a 23% growth in commercial revenue, driven by higher merchandising sales and new commercial deals. This alone, at 594 million euros, would put the club in the top-10 worldwide by revenue.
Secondly, Barca is one of the biggest climbers in the rankings. The Catalan club rises from sixth to second place, with 974.8 million euros, and returns to the top three for the first time since the pandemic season. This 27% year-on-year growth comes despite not playing home games at the Spotify Camp Nou last season and is mainly explained by the introduction of Permanent Seat Licenses (PSL) linked to the stadium redevelopment, according to Deloitte’s annual Football Money League report. For its part, Atletico Madrid also improved its revenues, although it dropped one place to 13th in the ranking. The club increased its revenues by 45 million euros, 11% more, to reach 454.5 million euros.
The Premier League already accounts for 45% of the Top 20
Among the other big league clubs, the nine English teams stand out, many of them classics of recent years, and others that are supported by their good performance in the domestic tournament and the millions earned from their participation in UEFA competitions. In this report, Liverpool FC, Manchester City, Arsenal FC, Manchester United, Tottenham Hotspur and Chelsea FC appear, followed by Aston Villa, Newcastle United and West Ham United. At this point, the most notable aspect is the collapse of United, a club that last season was in fourth place, supported by its commercial pull, but whose poor sporting situation is already weighing on it compared to the rest of the Big Six.
Beyond the islands, FC Bayern’s growth stands out, climbing to the podium with 860.6 million euros, driven by higher audiovisual rights revenues from its participation in the new FIFA Club World Cup 2025. Paris Saint-Germain (PSG), with 837 million euros, drops one place to fourth, despite winning the Champions League. Its biggest handicap is the collapse of Ligue 1’s audiovisual business. The report also reflects significant movements outside the five major leagues. SL Benfica returns to the ranking in 19th place, with 283.4 million euros, thanks to its participation in the Club World Cup, becoming the first club outside the Big-5 to enter since the 2020-2021 season.
Commercial, the great growth leg
Commercial revenue is once again the main source of revenue for elite football, with 5.3 billion euros, representing 43% of the total in 2024-2025. This growth is supported by greater use of stadiums and their surroundings on non-match days, increased sponsorship and improved sales of official products. In the top 10, the weight of this item rises to 48%, compared to 32% for clubs ranked between 11th and 20th. Matchday is the fastest growing line in relative terms. Matchday revenues increased by 16% year-on-year to 2.4 billion euros, or 19% of the total. The report links this progress to new uses of stadiums and the implementation of instruments such as Permanent Seat Licenses (PSLs), which reinforce the monetization of the live experience.
Audiovisual rights grew by 10% and accounted for 38% of total revenue. The main driver was the Club World Cup, where half of the top-20 clubs participated, with a 17% increase in audiovisual revenue. The start of the revamped and increasingly lucrative Champions League also contributed.
Record also in women’s football
Finally, there is also great news regarding women’s football. The business of the top 15 clubs reached 158 million euros, up 35% year-on-year. It is the first time they have broken the 150 million euro barrier. Arsenal led the way with 25.6 million euros, after growing by 43%, driven by greater investment in data and fan activation, which saw them surpass 35,000 spectators in five matches during the season, as well as winning the Women’s Champions League. Chelsea Women were second with 25.4 million euros and earned more than anyone else commercially. In third place, FC Barcelona, with 22 million euros, completed the podium after another season of strong sporting and economic performance.
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