Liverpool Football Club has reached a historic financial milestone, emerging as the top-earning Premier League club for the first time in the 2026 edition of the Deloitte Football Money League. With a total revenue of €836 million (£702 million), Liverpool surpassed all other English clubs, a significant achievement that marks the culmination of their successful 2024-25 season, in which they clinched the Premier League title. However, despite this impressive performance, the global leaderboard is still dominated by Spanish giants Real Madrid, whose revenue continues to set the bar in world football.
Liverpool’s Historic Achievement in the Premier League
Liverpool’s rise to the top of the Premier League’s revenue charts is a major milestone for the club. With €836 million generated in the 2024-25 season, the Reds edged out Manchester United, traditionally a financial powerhouse in English football, to claim the top spot among Premier League clubs. This success is a testament to the club’s remarkable growth both on and off the pitch, culminating in their 20th top-flight title. Their success is not just limited to matchday revenue; it also reflects increased commercial and broadcasting revenues, underscoring the club’s growing global brand.
Decline of Manchester United in the Deloitte Money League
Manchester United, who had dominated the Deloitte Money League for much of the past decade, saw a dramatic decline in 2026, slipping to 8th place with €793 million (£666 million) in revenue. This marks the lowest position for the club in the 29 years of the Money League’s history. The drop follows a turbulent season for United, which finished 15th in the Premier League and was eliminated early from the Europa League. Their matchday revenue, once the highest in the league, has also taken a hit this season due to their absence from European competition and early exits from domestic cup tournaments.
Deloitte’s Tim Bridge, the lead partner of the Sports Business Group, highlighted that Manchester United’s decline in the Money League reflects a shift in the football business landscape. “If you look back 10 to 15 years ago, Manchester United’s ability to generate matchday and commercial revenue was the benchmark for the industry,” Bridge said. “I don’t think that remains the case anymore.”
Real Madrid Continues to Dominate the Global Revenue Rankings
While Liverpool topped the Premier League earnings, Real Madrid once again claimed the top spot globally with €1.2 billion (£1.01 billion) in revenue. Despite not winning either La Liga or the UEFA Champions League in the 2024-25 season, Real Madrid’s commercial strength remains unparalleled. Their ability to generate significant commercial income, €594 million (£499 million) alone, continues to ensure their position at the forefront of the Money League.
Barcelona, who have faced considerable financial challenges in recent years, made a strong comeback in second place with €975 million (£819 million) in revenue. This marks their return to the top three for the first time since the 2019-20 season. Despite playing away from their Nou Camp stadium due to ongoing renovations, Barcelona’s commercial strategy has proven resilient, driving revenue growth.
Bayern Munich and Paris Saint-Germain: Strong Performances
Bayern Munich secured third place globally with €861 million (£723 million), a strong showing for the German giants. Their consistent performance on the field, including a victory in the Champions League, continues to contribute significantly to their revenue streams. Paris Saint-Germain, who won the Champions League in the 2024-25 season, came in fourth with €837 million (£703 million). The French club’s success in Europe, combined with their commercial appeal, ensures they remain a financial powerhouse in world football.
Liverpool, with €836 million (£702 million), rounded out the top five globally. Their strong performance in the Premier League, coupled with increasing commercial and broadcasting revenues, solidified their place in the top tier of football’s financial elite.
The Rise of English Clubs in the Top 10
English football remains dominant in the Money League, with six Premier League clubs in the top 10. Arsenal, who have seen a rise in both commercial revenue and on-field performance, came in 7th with €822 million (£690 million). Tottenham, bolstered by their growing global brand, finished 9th with €673 million (£565 million), while Chelsea secured the 10th spot with €584 million (£491 million).
The Financial Landscape of Football: Growth and Challenges
Deloitte’s report shows that the total revenue of the top 20 clubs increased by 11% to a record €12.4 billion (£10.4 billion). This growth was driven by increases in both commercial revenue and matchday income. Commercial revenue rose to €5.3 billion (£4.5 billion), reflecting a shift in business models as clubs maximize the use of stadiums and surrounding areas during non-matchdays. Sponsorship revenue also grew significantly, with clubs benefiting from larger, more lucrative partnerships.
Matchday revenue was the fastest-growing revenue stream, increasing by 16% to €2.4 billion (£2 billion). This growth reflects a broader trend of clubs capitalizing on their matchday experiences, with larger stadiums and premium seating options contributing to higher ticket sales and hospitality revenues.
The expanded FIFA Club World Cup, which took place in the United States in the summer of 2025, also had a positive impact on broadcast revenue. With clubs like Manchester City and Chelsea taking part, broadcast revenues increased by 10%, providing a significant boost to the financial performance of the clubs involved.
The Balance Between Revenue and Player Welfare
While the financial growth of football clubs is clear, Deloitte’s Tim Bridge stressed the need to balance revenue generation with player welfare. With the expansion of tournaments and increasing fixture schedules, there is concern about the impact on players’ health and the quality of the game.
“On-pitch performance remains a primary driver for clubs to progress to the upper echelons of the ranking,” said Bridge. “While this presents substantial financial opportunities, we must ensure that the value of the on-field product is protected alongside player welfare.”
A New Era in Football Finances
Liverpool’s rise to the top of the Deloitte Money League represents a new era in the financial landscape of football, with English clubs continuing to make their mark globally. However, Real Madrid’s dominance and the resilience of Barcelona highlight the competitive nature of the world’s top football clubs. As the financial ecosystem continues to evolve, the balance between commercial success and player welfare will be crucial in shaping the future of the game.
