Top 20 clubs in the Deloitte Football Money League generate revenue of $8bn

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Top 20 clubs in the Deloitte Football Money League generate revenue of $8bn

  • Combined revenue for top 20 Money League clubs totals $8bn
  • 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
  • Qatar Sports Investment backed Paris Saint-Germain climb one place to fourth
  • Nine Premier League clubs in the top 20, with revenues totalling $3.6bn

1 February 2016 – The 20 highest earning football clubs in the world generated $8bn of revenue last season, 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 $693.5m in the 2014/15 season. Commercial revenue was the main driver of this growth, with matchday income also seeing an increase. Broadcast revenue, however, fell slightly during the season.

Dan Jones, partner in the Sports Business Group at Deloitte, comments: “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 $624.4m. 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: “Despite a reduction in revenue year-on-year, 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.”

For the second year in a row, five of the top 10 clubs have Middle Eastern shirt sponsors, and commercial deals and finance from the region continues to shape the Money League top 10. Paris-Saint Germain have climbed one place to fourth with revenue of $577.9m, following increases in matchday and commercial income. Manchester City meanwhile maintained sixth place in this year’s edition.

Dan Jones commented that: “PSG’s fourth place finish represents the highest ever Money League position for a French club, however, they will need strong commercial revenues and performances in the Champions League, to maintain a top five position once the new Premier League broadcast deal starts in 2016/17.

“Manchester City’s development of commercial relationships, coupled with a capacity increase at the Etihad Stadium leaves the club within striking distance of a first top five Money League position next year. However, a successful run in the Champions League may be needed to allow them to overtake fifth place Bayern Munich.”

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. In their first appearance since 2005/06, West Ham United have once again joined the world’s revenue-generating elite, as revenues rose to $193.4m. Premier League clubs now dominate the top 30, with 17 of those clubs having played in the Premier League during the 2014/15 season.

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 Premier League clubs cementing their places in the top 30 in the coming years, with potential for some of these to climb into the top 20.”

Press contact
Nadine El Hassan
Middle East Public Relations Leader
Deloitte & Touche (M.E.)
Tel: +961 (0) 1 748444
Fax: +961 (0) 1 748999


Click here to download for the Arabic pdf version

Notes to editors:

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


The Deloitte Football Money League – 2014/15 revenue

(last year’s position)


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

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

1 (1)

Real Madrid

577 (549.5)

693.5 (745.7)

2 (4)

FC Barcelona

560.8 (484.8)

674 (657.9)

3 (2)

Manchester United

519.5 (518)

624.4 (702.9)

4 (5)

Paris Saint-Germain

480.8 (471.3)

577.9 (639.6)

5 (3)

Bayern Munich

474 (487.5)

569.7 (661.5)

6 (6)

Manchester City

463.5 (416.5)

557.1 (565.2)

7 (8)


435.5 (359.3)

523.4 (487.6)

8 (7)


420 (387.9)

504.8 (526.4)

9 (9)


391.8 (305.9)

470.9 (415.1)

10 (10)


323.9 (279)

389.3 (378.6)

11 (11)

Borussia Dortmund

280.6 (261.5)

337.3 (354.9)

12 (13)

Tottenham Hotspur

257.5 (215.5)

309.5 (292.4)

13 (14)

Schalke 04

219.7 (214)

264.1 (290.4)

14 (12)

AC Milan

199.1 (249.7)

239.3 (338.8)

15 (15)

Atlético de Madrid

187.1 (169.9)

224.9 (230.6)

16 (New)

AS Roma

180.4 (127.4)

216.8 (172.9)

17 (19)

Newcastle United

169.3 (155.1)

203.5 (210.5)

18 (20)


165.1 (144.1)

198.4 (195.5)

19 (17)


164.8 (162.8)

198.1 (220.9)

20 (New)

West Ham United

160.9 (139.3)

193.4 (189)


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 = $1.2019). 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.

About the Sports Business Group at Deloitte

Over the last 20 years Deloitte has developed a unique focus on the business of sport. Our specialist Sports Business Group offers a multi-disciplined expert service with dedicated people and skills capable of adding significant value to the business of sport. Whether it is benchmarking or strategic business reviews, operational turnarounds, revenue enhancement strategies or stadium/venue development plans, business planning, market and demand analysis, acquisitions, due diligence, expert witness, audits or tax planning; we have worked with more clubs, leagues, governing bodies, stadia developers, event organisers, commercial partners, financiers and investors than any other adviser.

For further information on our services you can access our website at

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About Deloitte & Touche (M.E.):

Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is a leading professional services firm established in the Middle East region with uninterrupted presence since 1926.

Deloitte provides audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with more than 3,300 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has also received numerous awards in the last few years which include best employer in the Middle East, best consulting firm, the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW), as well as the best CSR integrated organization.

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