Real Madrid have once again emerged as the world’s richest football club, according to Deloitte’s latest Football Money League report for the 2024/25 season.
The Spanish giants generated nearly €1.2 billion in revenue, despite failing to win a major trophy.
Much of this financial strength came from the ongoing transformation of the Santiago Bernabéu into a multi-purpose stadium, with commercial income alone reaching €594 million—enough to rank the club inside the top 10 independently.
Barcelona climbed back to second place with €975 million, even after spending the entire season away from the redeveloping Camp Nou.
Bayern Munich ranked third with €861 million, edging out Paris Saint-Germain, whose revenue was boosted by winning the Champions League for the first time.
The Premier League dominated the rest of the top 10, with Liverpool leading English clubs for the first time.
The Reds posted €836 million in revenue, driven by Anfield’s expansion, a return to the Champions League, and winning the Premier League title.
In contrast, Manchester City slipped to sixth after an early Champions League exit and a third-place league finish, while Manchester United dropped to eighth following a disappointing domestic season and failure to qualify for Europe.
Overall, Europe’s top 20 clubs recorded an 11% revenue increase, reaching €12.4 billion, highlighting a growing shift toward commercial innovation and stadium-based income streams.
Deloitte experts noted that clubs investing in brand expansion and year-round stadium experiencessuch as hotels, restaurants, and entertainment venues—are increasingly pulling ahead financially.
