Deloitte Money League 2026: Financial Powerhouses in Football and What It Means for the Global Game

The latest Deloitte Football Money League report reveals a landmark shift in the financial landscape of club football. For the first time in its history, Real Madrid has crossed the €1 billion revenue mark, setting a new record, while traditional powerhouses in England have seen their dominance challenged — and in some cases eroded — by broader commercial diversification and sporting performance.

A Record Year for Revenue

In the 2024/25 season, the top 20 revenue‑generating football clubs in the world collectively reported record revenues of €12.4 billion, up roughly 11 % from the previous year. This surge was driven by growth across all three major income streams: commercial activities, matchday receipts and broadcast rights.

At the very top of the Deloitte Money League, Real Madrid topped the list with nearly €1.2 billion in annual revenue, the first club ever to surpass the €1 billion threshold in Deloitte’s 29‑year history of the report. Nearly half of that revenue came from commercial activities alone, underlining how the Spanish giants have expanded well beyond match‑related income.

Shifts in the Global Rankings

Behind Real Madrid, FC Barcelona returned to second place with close to €975 million, followed by Bayern Munich (€861 m), Paris Saint‑Germain (€837 m) and Liverpool (€836 m) rounding out the top five. Notably, this marks the first time that no English club has finished in the top four, highlighting a broader diversification of financial power across Europe.

For Liverpool, this fifth‑place finish is a milestone — the club is now the highest‑earning English team in the Money League for the first time, a position it achieved through a return to the UEFA Champions League and a 7 % increase in commercial revenues, including non‑matchday events at Anfield that helped broaden its income base.

Old Trafford’s Slide

Contrasting sharply with Liverpool’s rise, Manchester United experienced a dramatic decline, dropping to eighth place, their lowest position in the history of the Deloitte Money League. Once a fixture in the top five, United’s slide reflects both sporting challenges and financial consequences, particularly a significant reduction in broadcast revenue due to absence from the Champions League.

Broadcast revenue for United reportedly fell from €258 million to around €206 million year‑on‑year, primarily due to fewer European matches and associated media income. The absence from continental competition also continues to depress matchday and ancillary revenues.

Rising Commercial, Broadcasting and Matchday Streams

Deloitte’s broader analysis shows that commercial revenue remained the largest single source for Money League clubs, accounting for 43 % of total revenue across the top 20 teams. Sponsorship, retail and global branding deals have become increasingly central to the financial strategy of elite clubs.

Matchday revenue — long an underperforming category relative to media and commercial streams — grew fastest year‑on‑year (≈16 %), benefitting from improved stadium experiences, premium seating and non‑matchday utilisation of club venues. Meanwhile, broadcast income also saw healthy growth, up roughly 10 % globally.

Broader Patterns and Strategic Implications

The 2026 Money League underscores a deeper evolution in the economics of club football. Traditional models that relied heavily on broadcast deals and match attendance are now being complemented — and in some cases outpaced — by diversified commercial revenue. For elite clubs, strategic investments in global branding, multi‑purpose stadium commercialisation and digital engagement are increasingly vital to sustainable growth.

Clubs that combine on‑field success with diversified off‑field income streams are best positioned to retain or improve their standing in future Money League reports. In contrast, established brands that fail to adapt — as evidenced by Manchester United’s slide — risk losing ground, even if their overall revenue remains high compared to the broader football ecosystem.

Looking Forward

As clubs prepare for future broadcast cycles and the continued globalisation of football fandom, the Money League data suggests that economic success will increasingly be defined by adaptability and brand expansion beyond traditional media dollar buckets.

That said, the Premier League remains deeply influential, with nine of its clubs represented in the Money League top 20, even if none broke into the top four this year.