Deloitte’s analysis of the 2024-2025 season: Los Blancos dominate, Bayern and Barcelona also on the podium. Lots of Premier League clubs in the rankings, with Inter, in eleventh place, the highest-ranked Serie A club
Real Madrid continues to lead the European revenue rankings, ahead of Barcelona and Bayern Munich. No Italian clubs in the top ten, despite Inter’s exploits in the last Champions League. This is the picture painted by Deloitte’s Football Money League for the 2024-25 season. The Blancos climb to €1.161 billion, the only club in the world to exceed €1 billion, with a 23% increase in commercial revenue. Barcelona returns to the podium in second place with €975 million, driven by the sale of premium seats (€70 million one-off) at the new Camp Nou, which is not yet complete. Bayern also did well (€861 million) thanks to the Club World Cup bonuses. The top ten continues with PSG (€837 million), Liverpool at an all-time high (€836 million), Manchester City down 1% (€829 million), Arsenal (€822 million), Manchester United (€793 million), Tottenham (€673 million), and Chelsea (584). Six Premier League teams, two from La Liga, one from the Bundesliga and one from Ligue 1. Inter Milan is the highest-ranked Italian team with 538 million, in 11th place. Then comes AC Milan in 15th place with 410 million and Juventus in 16th with 402 million. Deloitte analysts write: “The rise of some Saudi Pro League clubs and Inter Miami from Major League Soccer represents a commercial challenge for major European clubs. For MLS in particular, capitalizing on this opportunity after the 2026 World Cup could be the key to opening up a new fan market in the United States. We may soon see clubs from these leagues appearing in the Money League as the clubs with the highest revenues in the world.”
SCENARIO— Overall, the top 20 clubs generated more than €12 billion in revenue (€12.4 billion) for the first time, an 11% increase compared to 2023-24. For the third year in a row, commercial revenue accounted for the largest share of the pie, averaging €265 million. Deloitte analysts again: “The main drivers of this result were improved commercial performance, increased sponsorship revenues, and the use of stadiums and playing areas on non-match days. The latter represents a significant change in the business models of some clubs, which are focusing on greater use of stadium resources through a diversified entertainment offering. Bars, restaurants, hotels, and other on-site offerings are therefore becoming more common, demonstrating the importance for clubs to expand their revenue-generating opportunities and highlighting that football clubs’ brands and facilities continue to evolve and now go far beyond what happens on the pitch.” The stadium is increasingly becoming a key factor in economic performance. Unfortunately, Italian clubs know this all too well.
