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According to the latest analysis from financial consultancy Deloitte, Liverpool have risen to become the Premier League’s highest-earning club for the first time. The Reds secured the English top-flight championship last season and generated €836 million (£702 million) in revenue, surpassing all other English teams. This shift marks a significant change in the financial hierarchy of English football.
Meanwhile, Manchester United experienced a notable decline, falling to their lowest position ever in the 29th edition of the Deloitte Football Money League. Despite their past dominance—having topped the list 10 times, most recently in 2017—their revenue for this period dropped to €793 million (£666 million), placing them eighth. The club’s financial prospects are expected to be further affected this season as they are not participating in European competitions and were eliminated early from both the FA Cup and League Cup.
On the global stage, Real Madrid continue to lead the rankings with revenues of €1.2 billion (£1.01 billion), even though they did not win the Champions League or La Liga last year. Barcelona moved back into the top three after generating €975 million (£819 million), despite the challenge of playing away from their home stadium, Camp Nou, during renovations. Bayern Munich claimed third place with €861 million (£723 million), followed by Champions League winners Paris Saint-Germain in fourth with €837 million (£703 million), and Liverpool in fifth place. Manchester City dropped to sixth with €829 million (£697 million).
Deloitte highlighted that six English clubs are among the top ten earners: Arsenal ranked seventh with €822 million (£690 million), Tottenham ninth on €673 million (£565 million), and Chelsea tenth with €584 million (£491 million). Additionally, Aston Villa, Newcastle United, and West Ham United made the top 20, ranked 14th, 17th, and 20th respectively. Overall, revenue for the top 20 football clubs increased by 11% to a record €12.4 billion (£10.4 billion). Commercial income rose to €5.3 billion (£4.5 billion), partly due to clubs optimizing use of stadiums on non-matchdays, enhanced sponsorship deals, and better retail performance. Matchday revenues grew the fastest, up 16% to €2.4 billion (£2 billion), while broadcast revenue also climbed by 10%, boosted by competitions like the expanded FIFA Club World Cup held in the United States last summer.
Tim Bridge, lead partner of Deloitte’s Sports Business Group, commented on the evolving financial landscape, noting that clubs are taking greater control over their revenue streams. However, he also pointed out the tensions this growth creates with player welfare. “On-pitch performance remains a primary driver for clubs to progress to the upper echelons of the ranking, with many clubs benefiting from new and expanded European and international club tournaments,” Bridge stated. He emphasized the need for balance, warning that while more games present financial opportunities, it is important to preserve the quality of the sport and safeguard players amid increasingly congested fixture schedules.
Deloitte’s financial figures were calculated using the average exchange rate over the past 12 months, with 1 euro equating to £0.84, ensuring consistent comparisons across clubs
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