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20 Richest Clubs in World Soccer—Ranked
The finances involved in modern soccer continue to rise exponentially, reaching unprecedented levels with each passing season.
While there is significant money to be made across the globe, Europe remains the primary battleground for the game’s financial powerhouses. In particular, the continent’s five leading divisions—the Premier League, La Liga, Serie A, Bundesliga and Ligue 1—possess the bulk of commercial heavyweights.
The 29th edition of Deloitte’s Football Money League underscores Europe’s economic influence, detailing the world’s wealthiest clubs according to revenue earned from matchday, broadcast and commercial streams across the 2024–25 campaign.
With that in mind, here are the 20 clubs with the highest total revenue across last season.
The Clubs With the Highest Revenue in World Soccer—2024–25
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There are a few surprising names in the top 20, chiefly West Ham United ($322.8 million) given their continued struggles on the pitch. While their revenue dropped by 14% between the 2023–24 campaign and last season, they have snuck into the rankings ahead of Premier League rivals Brighton & Hove Albion, Everton, Crystal Palace and Bournemouth—all of whom feature between 25th and 21st.
The continued domestic revival of VfB Stuttgart ($346.6 million) has seen them re-enter Deloitte’s top 20 for the first time since 2009–10, with significant growth down to their appearance in last term’s Champions League. They are narrowly ahead of Benfica ($331.8 million), whose appearance at the Club World Cup last summer ensures they are the first representative outside of Europe’s big five leagues since 2020–21.
Significant Saudi investment has helped Newcastle United ($466 million) boost their revenue over recent years and they join West Ham and 14th-place Aston Villa ($526.7 million) as the only English representatives outside of the traditional “Big Six.” The Villans were boosted by their Champions League run to last term’s quarterfinals.
No Italian teams feature in the wealthiest 10 clubs but three do appear in the top 20. Juventus ($469.9 million) are 16th, narrowly ahead of Newcastle and only a little behind Milan ($480.1 million). The Rossoneri’s earnings pale in comparison to their bitter rivals and last season’s Champions League finalists Inter ($628.9 million). Despite winning Serie A, Napoli don’t even feature in the top 30.
Borussia Dortmund ($621.6 million) sit just behind Inter in 12th place and while they still remain miles off Bundesliga behemoths Bayern Munich in the rankings, they are comfortably Germany’s second richest side.
Position | Club | 2024–25 Revenue |
|---|---|---|
20. | West Ham | $322.8 million |
19. | Benfica | $331.8 million |
18. | Stuttgart | $346.6 million |
17. | Newcastle | $466 million |
16. | Juventus | $469.9 million |
15. | Milan | $480.1 million |
14. | Aston Villa | $526.7 million |
13. | Atlético Madrid | $531.7 million |
12. | Borussia Dortmund | $621.6 million |
11. | Inter | $628.9 million |
10. Chelsea ($683.5 million)
Chelsea dropped to 10th in Deloitte’s Football Money League for 2023–24 and they are unmoved in the rankings based on last season’s numbers. They enjoyed a 7% rise in revenue, with their matchday and broadcast earnings increasing despite a reduction in takings from commercial partnerships.
Chelsea’s Club World Cup success did help offset a season without Champions League football, but their return to Europe’s premier competition this term should allow for growth come next year’s rankings.
9. Tottenham Hotspur ($787 million)
Much like their London rivals Chelsea, Tottenham Hotspur have neither ascended nor descended the standings. They have held their position of ninth despite not featuring in last season’s Champions League or Club World Cup, although Europa League success will be crucial to an even greater revenue in 2025–26.
Tottenham’s 9% increase is mainly down to commercial growth and matchday earnings, with their broadcast revenue actually decreasing due to their absence from Europe’s most prestigious competition.
8. Manchester United ($928 million)
Manchester United’s disastrous on-field performances are affecting their earning potential off the pitch. The Red Devils have slipped all the way down to eighth from their position of fourth just last year, although their revenue did increase by three percent despite a reduction in broadcast money.
2024–25 marks United’s lowest-ever finish in the Football Money League and given they are without European football of any description this season, things are unlikely to improve significantly in the near future. Defeat in the Europa League final to Spurs will have an enormous financial impact.
7. Arsenal ($961.5 million)
Arsenal may be unmoved in the rankings, still sat in seventh place, but they enjoyed a fruitful season from a financial perspective. Their 15% revenue increase saw a significant rise in money taken through matchday, broadcasting and commercial streams, with over $100 million more in the bank compared to 2023–24.
The Gunners are still capable of winning the quadruple this season and will reap the financial benefits of any silverware secured—especially in the Premier League and Champions League. Mikel Arteta’s side will expect another sizeable increase come the end of the current campaign.
6. Manchester City ($970.4 million)
Manchester City are the only side in the top 10 to have seen a loss of revenue last season. While only a minor 1% reduction in earnings, the underwhelming performances of the Cityzens on the pitch has seen them drop from second in the standings all the way down to sixth.
Pep Guardiola’s side finished the season without major silverware, coming third in the Premier League, losing in the Champions League playoff round and failing to clinch either domestic cup competition—not that the FA Cup or Carabao Cup have a significant impact on earnings.
5. Liverpool ($978.3 million)
For the first time in Deloitte Football Money League history, Liverpool are England’s highest earners. A return to the Champions League and Premier League glory was instrumental to their 17% revenue increase, with an impressive 34% rise in broadcast earnings from the previous campaign.
The Reds have climbed three positions in the rankings following a hugely impressive debut season under Arne Slot, although that hard work will be undone should Liverpool fail to qualify for next season’s Champions League.
4. Paris Saint-Germain ($979.4 million)
Despite winning the Champions League and reaching the Club World Cup final, Paris Saint-Germain have actually fallen down the table. Moving from third to fourth, the French giants still posted a 4% revenue increase—largely down to increased broadcasting money.
PSG’s commercial revenue was actually at its lowest since the 2020–21 season, potentially due to the departures of superstars such as Neymar Jr, Kylian Mbappé and Lionel Messi in recent years, but their commercial earnings are still enormous.
3. Bayern Munich ($1.01 billion)
Bayern Munich’s Bundesliga success, Champions League quarterfinal run and appearance at the Club World Cup resulted in a revenue increase of 12% in 2024–25. Earnings increased across the board and helped the German giants rise from fifth to third in standings.
Bayern are on course for another tremendous campaign under Vincent Kompany, almost certain to win the Bundesliga title and among the favorites for the Champions League crown come the season’s conclusion.
2. Barcelona ($1.14 billion)
Barcelona are back in the top three for the first time since 2019–20, rising four places from last year’s standings. The introduction of Personal Seat License arrangements for a one-off earning of just over $80 million helped the Catalans boost revenue by a whopping 27% from the 2023–24 season.
Camp Nou’s re-opening and eventual completion will only continue to boost matchday revenue in 2025–26, while La Liga success and an impressive European run will also allow Barça the chance to hold their place on the Football Money League podium.
1. Real Madrid ($1.36 billion)
Surprise, surprise. Real Madrid are the highest revenue earners once again.
Madrid are the only club to have earned over €1 billion ($1.36 billion) in total revenue, with their 23% increase in commercial revenue offsetting their decrease in matchday revenue—the latter down to the fact that Madrid earned a fortune from Personal Seat License arrangements in 2023–24.
The commercial increase has been funded by “improved merchandise performance and new commercial partners”, while there was also a steady increase in broadcast earnings. Overall, Madrid’s revenue went up by 11% in 2024–25.
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Ewan Ross-Murray is a Sports Illustrated Soccer freelance writer who focuses primarily on the Premier League. Ewan was born in Leicester, but his heart, and club allegiance, belongs to Liverpool.