Ranking the Top 20 Richest Clubs in World Football Based on Revenue Generated

Football is increasingly intertwined with financial considerations, as clubs focus on revenue alongside on-field performance. Various income streams, including broadcasting deals, sponsorships, and merchandise sales, contribute to the financial health of football clubs. The financial landscape of the sport continues to grow, driven by factors like lucrative player transfers. Deloitte's latest money league provides insights into the richest football clubs globally based on revenue. The results are outlined below.

20. Marseille

2022/23 revenue: £224.7 million

Marseille has ascended into the top 20 of these rankings following a commendable third-place finish in Ligue 1. Despite being a former regular in the Champions League, the French club has found itself in the second tier of European competition in recent times.

Notably, there has been a substantial surge in Marseille's broadcast revenue compared to the previous year, escalating from £57 million to £138 million. This significant increase constitutes over 50% of the total revenue generated by the second French team included in the list. Marseille's position might improve further, given their advancement to the knockout rounds of the Europa League and the potential for a strong finish in Ligue 1.

19. Napoli

2022/23 revenue: £232.8 million

The Serie A champions have entered the top 20 after securing their first title in over 30 years. Under the management of Luciano Spalletti, Victor Osimhen and Khvicha Kvaratskhelia played pivotal roles in their league triumph. While expectations were high for a notable Champions League run, their journey was halted by AC Milan in the quarter-finals. Nonetheless, this achievement is accompanied by substantial financial gains.

Experiencing a remarkable £100 million increase in revenue is noteworthy, especially for a club that endured years of fluctuating performances between mid-table and fourth place in the preceding decades. Anticipated player sales, particularly Osimhen's expected departure after the 2023/24 campaign, are likely to further bolster their finances. However, the club's sustained focus on maintaining robust revenue streams remains crucial.

18. West Ham United

2022/23 revenue: £239.2 million

David Moyes, often criticized, has guided West Ham to unprecedented success, clinching the Europa Conference League and securing entry into the Europa League. This achievement not only brought prize money but also held significant financial importance for the club in 2023. However, despite these accomplishments, West Ham experienced a surprising decrease in revenue from the 2021/22 to the 2022/23 season.

Their 14th position in the league likely played a substantial role in the nine percent drop. The financial landscape, heavily influenced by lucrative TV deals in the English top flight, has elevated several Premier League clubs to the ranks of the world's richest, exemplified by the inclusions of West Ham and Newcastle on the list following their successful campaigns in recent years.

17. Newcastle United

2022/23 revenue: £250.3 million

The year 2024 marks an incredibly thrilling period for Newcastle United fans. The strategic move to bring in Eddie Howe as manager in 2021, following the club's takeover, has proven to be genius. Under Howe's guidance, the Magpies transformed from relegation candidates to securing a coveted spot in the Champions League. However, despite being drawn into a challenging group with powerhouses like PSG, Borussia Dortmund, and AC Milan, all of whom are ranked higher on this list, Newcastle faced tough odds to advance to the knockout rounds and ultimately exited the competition in last place, missing out on additional prize money.

Presently, the team faces a challenging journey to secure European qualification again, compounded by injury issues in the north-east of England. Remarkably, even without participating in any form of European football during the 2022/23 season, making it to this list is a testament to Newcastle United's impressive financial standing.

16. Eintracht Frankfurt

2022/23 revenue: £255.3 million

Eintracht Frankfurt's triumph in the 2022 Europa League, secured through a penalty shootout victory against Rangers, earned them entry into the Champions League for the 2022/23 season. Despite finishing seventh in their domestic league, the Bundesliga side defied expectations by progressing from their Champions League group to the knockout rounds, only to be eliminated by Napoli.

The financial impact of their European endeavors, particularly in continental competitions, likely played a significant role in securing their 16th place on this list. While the revenue from domestic television deals is often emphasized, the growth potential for clubs like Frankfurt through successful European campaigns should not be underestimated.

15. Atletico Madrid

2022/23 revenue: £316.6 million

Atletico Madrid, following Liverpool, is the second team to report a decrease in revenue over the past 12 months. Despite occupying the 12th position on this list a year ago, they have now slipped to the 15th spot, trailing behind Borussia Dortmund, AC Milan, and Inter Milan.

Traditionally considered the third force in the Spanish football landscape, often disrupting the dominance of Real Madrid and Barcelona, Atletico has consistently secured high positions in La Liga under Diego Simeone. However, in 2023, they reverted to a third-place finish. Despite this setback, the regular participation in Europe's premier competition continues to contribute significant revenue for the Spanish club.

14. Inter Milan

2022/23 revenue: £329.5 million

Inter Milan secured a substantial revenue for the 2022/23 season, narrowly trailing their local rivals, AC Milan, on the list. The highlight of their campaign was reaching the final of the Champions League, although they were defeated by Manchester City. Notably, Inter eliminated AC Milan in the semi-final stage, gaining a victory over their local rivals.

While achieving a third-place finish in Serie A may be considered a disappointment, especially with Juventus facing challenges, Inter Milan's strong financial performance was likely influenced by their successful Champions League campaign. The club appears poised to contend for the league title in the 2023/24 season, which could elevate their position on the revenue list in the future.

13. AC Milan

2022/23 revenue: £335.1 million

While AC Milan may not be the football powerhouse they were in the 1990s and early 2000s, the seven-time European Cup winners remain a globally recognized and prestigious club. Their strong brand, coupled with a semi-final appearance in the Champions League and a second-place finish in Serie A, has played a significant role in their ascent from 16th to 13th in the revenue list. Notably, they have surpassed their perennial rivals, establishing themselves as a formidable force in the football financial landscape.

12. Borussia Dortmund

2022/23 revenue: £365.3 million

Despite falling short of clinching their first Bundesliga title in over a decade, Borussia Dortmund's strong performance and second-place finish in the 2022/23 season have contributed to their rise in the revenue rankings. The fiercely loyal fan base, known for filling the stadium to capacity with black and yellow colors, adds to the club's appeal and financial strength. While Bayern Munich's dominance in the German league is a prevailing narrative, Dortmund's consistent presence as the second-best team has solidified their standing in both footballing and financial terms.

11. Juventus

2022/23 revenue: £376 million

Our next stop takes us to Juventus, a prominent Serie A club. Like many Italian clubs, Juventus has faced financial challenges in recent years, leading to their expulsion from European football for the 2023/24 season due to non-compliance with Financial Fair Play regulations.

Despite these setbacks, Juventus remains a major revenue generator within their domestic league. Their revenue grew from £339.4 million to £376 million, resulting in a relatively modest increase compared to other clubs on the list. Juventus retains its 11th place position in terms of revenue, highlighting their consistent financial strength.

10. Arsenal

2022/23 revenue: £463.1 million

Under Mikel Arteta's guidance, Arsenal secured a spot in the Champions League group stage for the first time since 2016, showing great promise in the 2022/23 season as they narrowly missed out on dethroning Manchester City from the Premier League summit.

Despite falling short of clinching the league title, Arteta's youthful Arsenal squad brought back a sense of optimism to the Emirates. With their return to top-tier European competition, the club experienced substantial financial success, witnessing an impressive 23% increase in revenue within a single year. This newfound prosperity allowed Arsenal to make significant signings, with the notable acquisitions of Declan Rice and Kai Havertz in 2023.

9. Chelsea

2022/23 revenue: £512.5 million

Since assuming control of Chelsea in 2022, Todd Boehly has invested extravagant amounts of money, with the west London club undergoing managerial changes four times without yielding positive on-field results. Despite this, Chelsea maintains its status among the world's wealthiest clubs.

The acquisition of numerous young talents underscores the club's commitment to a long-term project at Stamford Bridge. The considerable income generated from broadcasting rights for Premier League matches, courtesy of various corporate deals, will further contribute to the substantial financial resources as Chelsea endeavors to translate their financial strength into on-field success.

8. Tottenham

2022/23 revenue: £549.2 million

Tottenham supporters have frequently criticized the performance of chairman Daniel Levy, with much of the scrutiny directed towards off-field matters rather than the club's on-pitch success. Despite a trophy drought extending over 15 years since 2008, Spurs maintain a relatively high position on this list, boasting a robust revenue stream.

The state-of-the-art stadium, known for hosting various events, including music concerts and NFL matches, has significantly boosted the club's income. With the leadership of Ange Postecoglou aiming to guide the team back into the top four and secure a place among Europe's elite, the financial gains could potentially surge even further.

7. Liverpool

2022/23 revenue: £593.8 million

Liverpool is the initial team on the list to experience a decline in revenue from the 2021/22 season to the 2022/23 season. Jurgen Klopp's squad endured their most challenging season in recent memory, falling short of securing Champions League qualification despite a late surge in the Premier League. This setback is likely a significant contributing factor, as Europa League participation, while still financially rewarding, does not offer the same financial incentives.

The Reds appear to be on an upward trajectory as they gear up to compete against Manchester City and Arsenal in the title race during the 2023/24 campaign. Fenway Sports Group, the club's owners, will be optimistic about seeing the prestigious club achieve a higher position in these rankings in the next 12 months.

6. Bayern Munich

2022/23 revenue: £647 million

Bayern Munich is on the verge of entering the top five of this list, but their revenue for the 2022/23 season narrowly missed surpassing that of Manchester United. Clinching their 11th successive league trophy with some last-day drama, Bayern Munich appeared unstoppable, but Xabi Alonso's Bayer Leverkusen is emerging as a significant threat in 2024.

The strategic acquisition of Harry Kane, not only as a clinical number nine but also as a high-profile superstar off the pitch, proved to be a masterstroke. The biggest club in Germany, Bayern Munich, continues to attract lucrative sponsorship deals, consistently positioning themselves as favorites at the outset of each Champions League campaign.

5. Manchester United

2022/23 revenue: £648.5 million

Similar to Barcelona, Manchester United is showing signs of becoming a dormant powerhouse due to underwhelming performances and results since the departure of Sir Alex Ferguson in 2013. The loss of the greatest manager in Premier League history posed a significant challenge and underscored the contributions Ferguson made behind the scenes.

While there have been ongoing discussions about a perceived lack of football expertise in Ferguson's absence, the Glazer family and their associates have demonstrated exceptional prowess in the commercial aspects of the club. The renowned name of the club alone is sufficient to maintain relevance, making Manchester United the second English side to feature on the list.

4. Barcelona

2022/23 revenue: 695.8 million

Barcelona has experienced a decline in several aspects since the glorious era under Guardiola in the 2000s and early 2010s, with Messi playing a central role in their on-field success. However, Xavi, a heroic figure from that era, managed to guide the Catalan side to their first La Liga title in four years.

This achievement has played a crucial role in alleviating the financial challenges the club has faced in recent years. Despite facing difficulties on the footballing front in the last five years, Barcelona continues to be one of the most prominent names in world football. The club's reputation carries substantial weight for sponsors and broadcasters.

3. Paris Saint-Germain

2022/23 revenue: £697.2 million

Paris Saint-Germain stands as one of the wealthiest clubs in global football, holding the position of the richest within their domestic league by a significant margin. The Ligue 1 champions have consistently been the dominant force in their division, albeit with occasional setbacks. The club has been known for offering extravagant wages, with players like Kylian Mbappe commanding some of the highest salaries in world football.

PSG's acquisition of superstar players, including Neymar and Lionel Messi, has attracted numerous sponsorship deals, contributing to the club's sustained presence near the top of the financial rankings. Winning their league title and securing qualification for Europe's premier competition further bolsters the club's financial standing.

2. Manchester City

2022/23 revenue: £718.2 million

It might be unexpected not to find Pep Guardiola's treble-winning squad at the pinnacle of this list, but Manchester City slipped from their previous position to second place. Despite securing the FA Cup, Premier League, and their maiden Champions League title, City was surpassed by the team they overcame in the European semi-final en route to their triumph.

While the prize money accrued from claiming these prestigious trophies fell short of maintaining the top position on this list, the overall trajectory of the club has witnessed substantial progress since Sheikh Mansour's takeover. The ongoing plan is to build upon the achievements of the club in the years ahead.

1. Real Madrid

2022/23 revenue: £723 million

Real Madrid clinched the top spot on this list, propelled by their second-place finish in La Liga and a semi-final appearance in the Champions League. Renowned as the world's preeminent football club, Los Blancos not only showcase excellence on the pitch but also exhibit astute management off it.

Real Madrid experienced a remarkable increase of over £100 million in revenue within just 12 months. The primary drivers behind the club's revenue surge are broadcasting and commercial incomes, with the latter witnessing a substantial boost in 2023. The addition of Jude Bellingham to the squad is poised to not only enhance shirt sales but, coupled with the English star's performances, potentially propel them to further success and augment their revenue.