Press releases

Top 20 clubs in the Deloitte Football Money League score record revenue of over €6.6bn

Zurich, 21 January 2016

  • Combined revenue for top 20 Money League clubs rises 8% to €6.6bn, a new record
  • Real Madrid top the list for the 11th year in a row, with Manchester United falling one place to third and FC Barcelona climbing to second
  • Bayern Munich fall to fifth, their lowest position since 2006/07
  • Nine Premier League clubs in the top 20, with revenues totalling €3bn

The 20 highest earning football clubs in the world generated €6.6bn of revenue last season, an increase of 8% on the previous year, according to the 19th edition of the Football Money League from Deloitte, the business advisory firm.

Real Madrid top the Deloitte Football Money League for the eleventh year in a row, having generated €577m in the 2014/15 season. Commercial revenue was the main driver of this growth, increasing by €22.7m from the previous season. Matchday income also saw an increase of €9.1m. Broadcast revenue, however, fell by €4.3m during the season.

Dan Jones, partner in the Sports Business Group at Deloitte, comments: “For the first time, the top three clubs in the Football Money League have all passed the €500m revenue mark. Real Madrid once again delivered a strong financial performance, buoyed by growth in their commercial revenue. The planned redevelopment of the Santiago Bernabéu will help to continue the growth in matchday income in the coming years.”

“FC Barcelona’s on-pitch achievements in the 2014/15 season have translated to financial success. The European champions have climbed to second place at the expense of Manchester United, with revenue growth across all areas of the business - matchday, broadcast and commercial.”

Manchester United, although slipping one place to third, remain the highest revenue-generating club from the Premier League, earning €519.5m. Chelsea fell one place to eighth, with Arsenal climbing to seventh. Manchester City and Liverpool are the other two Premier League clubs in the top 10, placing sixth and ninth respectively.

Tim Bridge, Senior Manager at Deloitte, comments: “The fact that Manchester United remain in the top three of the Money League demonstrates the underlying strength of the club’s business model. The return to Champions League football, as well as the commencement of a number of significant commercial partnerships, will only strengthen the business in 2015/16. With this in mind, it would not be surprising to see United top next year’s Money League for the first time in 12 years, with the club forecasting revenues of around  €650m.”

This year’s Football Money League has also seen movement amongst Europe’s football giants, with Bayern Munich falling from third to fifth place, their lowest position since 2006/07. The German champions were leapfrogged by Paris Saint-Germain, the only French team in the top 20, following another year of growth and a revenue of €480.8m. Despite a successful Champions League campaign for Juventus, and Roma’s jump from 24th to 16th, it has been a disappointing season for Italian clubs in revenue terms. Both Inter and AC Milan have slipped two places in the last year, with the former close to dropping out of the top 20 of the Money League for the first time.

Jones adds: “The 2014/15 Money League has been another year of growth for the ‘big five’ European leagues. However, we have also seen a slowdown of growth from the top five clubs, with revenues growing by just 4% year on year, compared to 11% in the previous edition. It may be hard for new clubs to break into the top 10 in the short term, given the €43.3m revenue gap between 10th and 11th place.”

A 10% strengthening of sterling versus the euro helped English clubs. A record nine Premier League clubs are ranked within this year’s top 20, one more than in last year’s edition. Premier League clubs now dominate the top 30, with 17 of those clubs in the ranking

Bridge adds: “Despite disappointing performances by Premier League clubs in recent European competitions, they continue to lead the way in revenue terms. With the new round of Premier League broadcast deals set to deliver greatly improved domestic broadcast revenues in 2016/17, we expect to see the English clubs cementing their places in the top 30 in the coming years, with potential for some of these to climb into the top 20.”

Download the report

The Deloitte Football Money League 2016

The Deloitte Football Money League – Top 20 Clubs


(last year's position)


2014/15 Revenue (€m)
(2013/14 Revenue)

1 (1)

Real Madrid

577 (549.5)

2 (4)

FC Barcelona

560.8 (484.8)

3 (2)

Manchester United

519.5 (518)

                     4 (5)                     

              Paris Saint-Germain              

                 480.8 (471.3)                

5 (3)

Bayern Munich

474 (487.5)

6 (6)

Manchester City

463.5 (416.5)

7 (8)


435.5 (359.3)

8 (7)


420 (387.9)

9 (9)


391.8 (305.9)

10 (10)


323.9 (279)

11 (11)

Borussia Dortmund

280.6 (261.5)

12 (13)

Tottenham Hotspur

257.5 (215.5)

13 (14)

Schalke 04

219.7 (214)

14 (12)

AC Milan

199.1 (249.7)

15 (15)

Atlético de Madrid

187.1 (169.9)

16 (New)

AS Roma

180.4 (127.4)

17 (19)

Newcastle United

169.3 (155.1)

18 (20)


165.1 (144.1)

19 (17)


164.8 (162.8)

20 ( New)

West Ham United

160.9 (139.3)



About Deloitte Football Money League

This press release is based on the Deloitte Football Money League published in January 2016. As explained more fully in the publication, the revenue figures are extracted from the annual financial statements of the company or group in respect of each club, or other direct sources, for the 2014/15 season.

There are many ways of examining the relative wealth or value of football clubs. For the Deloitte Football Money League, revenue has been used as the most easily available and comparable measure of financial performance.

Revenue excludes player transfer fees, VAT and other sales related taxes. In a few cases we have made adjustments to total revenue figures to enable, in our view, a more meaningful comparison of the football business on a club-by-club basis.

We have not performed any verification work or audited any of the information contained in the financial statements or other sources in respect of each club for the purpose of the publication.

For the purpose of the international comparisons, unless otherwise stated, all figures for the 2014/15 season have been translated at the average exchange rate for the year ending 30 June 2015 (£1 = €1.3145). Comparative figures have been extracted from previous editions of the Deloitte Football Money League, or from relevant annual financial statements or other direct sources.

Later this year the Deloitte Annual Review of Football Finance will be published, providing a more detailed analysis of the English and European football finance landscape.

To review the full findings of the Deloitte Football Money League, please visit:

About Deloitte in Switzerland

Deloitte is a leading accounting and consulting company in Switzerland and provides industry-specific services in the areas of audit, tax, consulting and financial advisory. With more than 1,400 employees at six locations in Basel, Berne, Geneva, Lausanne, Lugano and Zurich (headquarters), Deloitte serves companies and institutions of all legal forms and sizes in all industry sectors. Deloitte AG is a subsidiary of Deloitte LLP, the UK member firm of Deloitte Touche Tohmatsu Limited (DTTL). DTTL member firms comprise of over 225,000 employees in more than 150 countries.

Note to editors

In this press release references to Deloitte are references to Deloitte AG, a subsidiary of Deloitte LLP, which is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.Please see for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP and its subsidiaries are leading business advisers, providing audit, tax, consulting and financial advisory services through more than 14,000 exceptional people across the UK and Switzerland. Known as an employer of choice for innovative human resources programmes, it is dedicated to helping its clients and people excel.

Deloitte AG is an audit firm recognised and supervised by the Federal Audit Oversight Authority (FAOA) and the Swiss Financial Market Supervisory Authority (FINMA).

The information contained in this press release is correct at the time of going to press.

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