The most recent edition of the Deloitte Football Money League has unveiled a significant shift, with Real Madrid claiming the top position, while Liverpool, Manchester United, and Manchester City have experienced a decline in their rankings. Liverpool’s drop from third to seventh place, Manchester City being surpassed by Real Madrid, and Manchester United falling from fourth to fifth place all indicate substantial changes in the revenue standings of these Premier League clubs compared to the previous season.
Deloitte reports that Liverpool saw the largest decrease in the top 20, with their revenue slightly declining from £594.3m to £593.8m, attributable to their performance on the field, finishing fifth in the Premier League and exiting the Champions League at the last 16 stage.
Conversely, Manchester United experienced an improved revenue figure compared to the previous season, but dropped one position to fifth place. Meanwhile, Manchester City, despite achieving a record Premier League revenue figure, now holds second place, with Real Madrid taking the lead.
The Money League analyzes revenue figures reported in clubs’ annual accounts for the 2022-23 season and does not factor in operating costs. Tottenham moved up to eighth place, Chelsea claimed ninth place, and Arsenal maintained their tenth position.
Real Madrid led the way with revenue of £723m in 2022-23, showcasing their success within the current landscape of European football. This accomplishment is noteworthy, especially given the strong backing of the club’s president, Florentino Perez, for a Super League, underscoring the club’s capacity to thrive amidst external controversies.
Paris Saint-Germain made their debut in the top three, while Barcelona climbed three spots to seventh place with a revenue of £696m.
According to Tim Bridge, the lead partner in Deloitte’s Sports Business Group, clubs like Real Madrid and Barcelona have been revitalizing their stadiums, exerting greater control over their operations, particularly in merchandise and licensing, leading to changes in their business model that have impacted their revenue figures.
The top 20 clubs collectively generated 10.5 billion euros (£9bn), marking a 14 per cent increase from the previous season. Additionally, Barcelona Femeni emerged as the highest-earning women’s club in the world, with a 74 per cent revenue increase amounting to £11.6m.
Despite their struggles on the field, Manchester United remains a commercial success, effectively generating revenue and cultivating numerous commercial partnerships. Bridge suggests that modernizing Old Trafford and enhancing the matchday experience could result in “revolutionary” revenue growth for the club.
Ineos is set to invest £235m ($300m) in club infrastructure after acquiring a 25 per cent stake in United. This move follows concerns raised by supporters about the stadium, including issues such as roof leaks.
The Deloitte Football Money League highlights the intricate connection between on-field performance and commercial success, shedding light on the evolving dynamics and financial strength of football clubs across Europe. Real Madrid’s ascension not only reflects their revenue achievement but also underscores their ability to adapt and thrive in the ever-changing football landscape.