In this guide
How the ranking worksThe top 20 at a glance1. Real Madrid: the only club past €1bn2. Barcelona: back to second despite playing away from home3. Bayern Munich: Germany's only top-10 club4. Paris Saint-Germain: France's last club standing5. Liverpool: England's highest earner for the first time6. Manchester City: the only top-10 club going backwards7. Arsenal: the most matchday income in London8. Manchester United: lowest Money League position ever9. Tottenham Hotspur: the stadium keeps paying10. Chelsea: growth on the pitch, losses off it11. Inter Milan: Italy's richest club12. Borussia Dortmund: steady rather than spectacular13. Atletico Madrid: new owners, new capital14. Aston Villa: fastest riser in England15. AC Milan: holding position without Europe16. Juventus: growth returns17. Newcastle United: richest owner, 17th on income18. VfB Stuttgart: the largest riser in Europe19. Benfica: first top-20 entry in two decades20. West Ham United: the only English club in declineRevenue, value or owner wealth: why the lists disagreeFAQsReal Madrid earned €1,161m (£975m) in 2024/25, the first time any club has cleared €1.1bn in a single season, according to the Deloitte Football Money League published on 22 January 2026. That figure puts them top of the richest football clubs in Europe by a margin of €186m over Barcelona, with nine Premier League clubs, three each from Spain, Germany and Italy and one each from France and Portugal making up the 20.
Article Summary: Europe's highest-earning clubs in 2026 are Real Madrid, Barcelona and Bayern Munich, ranked on 2024/25 revenue from Deloitte's Football Money League. The top 20 earned a record €12.4bn between them. For the first time no Premier League club sits in the top four, and Liverpool are the highest-earning English club. Each section below gives one club's revenue, value and owner, with a ticket link.
- Real Madrid: €1,161m revenue in 2024/25, up 11%, per Deloitte (22 January 2026).
- Combined revenue of the top 20 rose 11% to €12.4bn in 2024/25.
- Liverpool (€836.1m) overtook Manchester City (€829.3m) as England's highest earner for the first time.
- Manchester United fell to eighth, their lowest ever Money League position.
- VfB Stuttgart (+79%) and Benfica (+27%) entered the top 20 for the first time since 2009/10 and 2005/06 respectively.
Revenue is not the same as owner wealth. Newcastle United sit 17th here despite being backed by Saudi Arabia's Public Investment Fund, and Manchester City rank sixth on income even though their owner is among the wealthiest in the game. If the owners are what you are after, our ranking of the richest Premier League club owners covers that separately. This article sticks to what the clubs themselves earn.
How the ranking works
Every club below is ranked on total revenue for the 2024/25 season as reported in the 29th edition of the Deloitte Football Money League, which excludes player transfer income. Deloitte converts sterling at £0.84 to €1, so the GBP figures here use the same rate. Club values come from Forbes' list published on 29 May 2026 and are enterprise values, meaning they include debt.
| Measure | Source and date | What it tells you |
|---|---|---|
| Revenue | Deloitte Football Money League, 22 Jan 2026 | Cash the club earned in 2024/25 from matchday, broadcast and commercial income |
| Club value | Forbes, 29 May 2026 | What a buyer would pay for the whole club, including its debt |
| Owner wealth | Various rich lists | How rich the owner is, which spending rules stop them pouring into the club |
Nine of the 20 play in the Premier League, more than any other league, yet none of them made the top four this year. Deloitte expects clubs selling Premier League tickets to climb again in the 2027 edition, the first to include the new domestic broadcast deal.
2025/26 results published so far
Two of the 20 have already reported 2025/26 figures, and both set records. Real Madrid's accounts approved on 28 July 2026 show €1,221m, up 5% on the year ranked below. Manchester United reported £677.6m in September 2026 alongside a £43m loss, their seventh in a row. The remaining 18 report between February and June 2027, and Deloitte adjusts every club to a like-for-like basis in January 2027, so this table grows until then and the ranking above stays the comparable one.
| Club | 2025/26 revenue | Published | Change on 2024/25 |
|---|---|---|---|
| Real Madrid | €1,221m | 28 July 2026 | +5% |
| Manchester United | £677.6m | September 2026 | +2% (club accounts, not Deloitte-adjusted) |
| Other 18 clubs | Not yet reported as of September 2026 | Expected Feb to Jun 2027 | Full ranking January 2027 |
The top 20 at a glance
| Rank | Club | Revenue 2024/25 | Change | Forbes value (May 2026) |
|---|---|---|---|---|
| 1 | Real Madrid | €1,161.0m (£975.2m) | +11% | $9.5bn |
| 2 | Barcelona | €974.8m (£818.8m) | +27% | $7.5bn |
| 3 | Bayern Munich | €860.6m (£722.9m) | +12% | $5.7bn |
| 4 | Paris Saint-Germain | €837.0m (£703.1m) | +4% | $5.8bn |
| 5 | Liverpool | €836.1m (£702.3m) | +17% | $6.2bn |
| 6 | Manchester City | €829.3m (£696.6m) | -1% | $5.5bn |
| 7 | Arsenal | €821.7m (£690.2m) | +15% | $5.4bn |
| 8 | Manchester United | €793.1m (£666.2m) | +3% | $7.2bn |
| 9 | Tottenham Hotspur | €672.6m (£565.0m) | +9% | $3.0bn |
| 10 | Chelsea | €584.1m (£490.6m) | +7% | $4.2bn |
| 11 | Inter Milan | €537.5m (£451.5m) | +37% | $1.8bn |
| 12 | Borussia Dortmund | €531.3m (£446.3m) | +3% | $2.2bn |
| 13 | Atletico Madrid | €454.5m (£381.8m) | +11% | $2.95bn |
| 14 | Aston Villa | €450.2m (£378.2m) | +45% | $1.4bn |
| 15 | AC Milan | €410.4m (£344.7m) | +3% | $1.85bn |
| 16 | Juventus | €401.7m (£337.4m) | +13% | $2.4bn |
| 17 | Newcastle United | €398.4m (£334.7m) | +7% | $1.25bn |
| 18 | VfB Stuttgart | €296.3m (£248.9m) | +79% | $0.88bn |
| 19 | Benfica | €283.4m (£238.1m) | +27% | $0.96bn |
| 20 | West Ham United | €276.0m (£231.8m) | -14% | Outside Forbes top 30 |
1. Real Madrid: the only club past €1bn
| Metric | 2024/25 |
|---|---|
| Revenue | €1,161.0m (£975.2m), up 11% |
| Matchday / broadcast / commercial | €232.5m / €334.9m / €593.6m |
| Forbes value | $9.5bn, 1st |
| Owner | Member-owned (socios) |
Real Madrid's commercial income alone (€593.6m, up 23%) would rank inside the overall top 10, according to Deloitte. The rebuilt Bernabeu drives it: concerts, tours and premium seating now sit alongside league and European matchdays. Real Madrid have led the Money League for three editions running.
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2. Barcelona: back to second despite playing away from home
| Metric | 2024/25 |
|---|---|
| Revenue | €974.8m (£818.8m), up 27% |
| Matchday / broadcast / commercial | €209.7m / €242.8m / €522.3m |
| Forbes value | $7.5bn, 2nd |
| Owner | Member-owned (socios) |
Barcelona climbed four places while still playing at the Estadi Olimpic Lluis Companys. Deloitte notes that around €70m of the rise was a one-off from personal seat licences sold for the rebuilt Spotify Camp Nou, so the underlying growth is lower than the headline 27% suggests.
3. Bayern Munich: Germany's only top-10 club
| Metric | 2024/25 |
|---|---|
| Revenue | €860.6m (£722.9m), up 12% |
| Matchday / broadcast / commercial | €147.2m / €251.9m / €461.5m |
| Forbes value | $5.7bn, 6th |
| Owner | Member-owned majority with corporate minority stakes |
Bayern moved up two places to third, with more than half of their income coming from commercial deals. Club World Cup participation in summer 2025 lifted broadcast income, and Deloitte says part of that windfall will land in the 2025/26 accounts too.
4. Paris Saint-Germain: France's last club standing
| Metric | 2024/25 |
|---|---|
| Revenue | €837.0m (£703.1m), up 4% |
| Matchday / broadcast / commercial | €176.6m / €293.2m / €367.1m |
| Forbes value | $5.8bn, 5th |
| Owner | Qatar Sports Investments |
The 2024/25 Champions League winners slipped one place to fourth as Liverpool and Bayern grew faster. With Marseille and Lyon dropping out of the top 20, the Paris club are the only Ligue 1 side in the list for the first time since 2021/22, a direct result of the weaker domestic broadcast deal.
5. Liverpool: England's highest earner for the first time
| Metric | 2024/25 |
|---|---|
| Revenue | €836.1m (£702.3m), up 17% |
| Matchday / broadcast / commercial | €149.8m / €320.7m / €365.7m |
| Forbes value | $6.2bn, 4th |
| Owner | Fenway Sports Group |
Liverpool's Premier League title pushed revenue past £700m for the first time. Broadcast income of €320.7m is the fourth highest in Europe, behind Real Madrid, Manchester City and Arsenal, and the 17% growth rate was the fastest of any club in the top eight.
6. Manchester City: the only top-10 club going backwards
| Metric | 2024/25 |
|---|---|
| Revenue | €829.3m (£696.6m), down 1% |
| Matchday / broadcast / commercial | €89.3m / €331.5m / €408.4m |
| Forbes value | $5.5bn, 7th |
| Owner | Abu Dhabi United Group via City Football Group |
City dropped from second to sixth after a third-place finish and a Champions League play-off exit. Their matchday income of €89.3m is less than half of Manchester United's or Arsenal's, the clearest sign that a smaller stadium and lower ticket yields hold back a club whose commercial deals are Europe's third largest.
7. Arsenal: the most matchday income in London
| Metric | 2024/25 |
|---|---|
| Revenue | €821.7m (£690.2m), up 15% |
| Matchday / broadcast / commercial | €183.1m / €324.6m / €314.0m |
| Forbes value | $5.4bn, 8th |
| Owner | Kroenke Sports and Entertainment |
Arsenal's €183.1m matchday income is the fourth highest in Europe and the largest of any London club, lifted by a Champions League run to the semi-finals. The club's own accounts for 2024/25 showed record revenue of £691m against a loss of £1.4m, so the growth is not yet profit.
8. Manchester United: lowest Money League position ever
| Metric | 2024/25 |
|---|---|
| Revenue | €793.1m (£666.2m), up 3% |
| Matchday / broadcast / commercial | €190.7m / €205.8m / €396.6m |
| Forbes value | $7.2bn, 3rd |
| Owner | Glazer family majority, INEOS minority with football control |
Broadcast income fell from €258m to €206m without Champions League football, dropping United from fourth to eighth, according to Sky Sports' reading of the Deloitte figures. Old Trafford still produces the highest matchday income of any club outside Spain, and Forbes rates the club third most valuable in the world despite debt of more than £1bn reported in September 2026.
9. Tottenham Hotspur: the stadium keeps paying
| Metric | 2024/25 |
|---|---|
| Revenue | €672.6m (£565.0m), up 9% |
| Matchday / broadcast / commercial | €150.5m / €192.4m / €329.7m |
| Forbes value | $3.0bn, 10th |
| Owner | ENIC (Lewis family trusts) |
Spurs held ninth for a second year on the back of Europa League success and non-football events at the Tottenham Hotspur Stadium, which generate income Deloitte counts under commercial. Matchday revenue of €150.5m is the third highest in England, behind Manchester United and Arsenal.
10. Chelsea: growth on the pitch, losses off it
| Metric | 2024/25 |
|---|---|
| Revenue | €584.1m (£490.6m), up 7% |
| Matchday / broadcast / commercial | €103.2m / €241.8m / €239.0m |
| Forbes value | $4.2bn, 9th |
| Owner | BlueCo (Clearlake Capital and Todd Boehly) |
Chelsea completed the Premier League's top-10 sweep with a 7% rise driven by the Conference League win and Champions League qualification. Sportico reported a record pre-interest loss for a Premier League club in the same season, a reminder that this list measures income, not profit.
11. Inter Milan: Italy's richest club
| Metric | 2024/25 |
|---|---|
| Revenue | €537.5m (£451.5m), up 37% |
| Matchday / broadcast / commercial | €108.0m / €277.0m / €152.5m |
| Forbes value | $1.8bn, 15th |
| Owner | Oaktree Capital Management |
A run to the 2025 Champions League final lifted Inter three places to 11th and ahead of every other Serie A club. Broadcast income of €277m is more than half of total revenue, which shows how dependent Italian clubs remain on European prize money.
12. Borussia Dortmund: steady rather than spectacular
| Metric | 2024/25 |
|---|---|
| Revenue | €531.3m (£446.3m), up 3% |
| Matchday / broadcast / commercial | €94.9m / €227.2m / €209.2m |
| Forbes value | $2.2bn, 13th |
| Owner | Publicly listed (Borussia Dortmund GmbH and Co KGaA) |
Dortmund slipped one place to 12th with modest 3% growth, but the Club World Cup run to the quarter-finals and a Champions League quarter-final kept broadcast income above €225m. Dortmund also entered the Brand Finance top 10 in August 2026 for the first time in a decade.
13. Atletico Madrid: new owners, new capital
| Metric | 2024/25 |
|---|---|
| Revenue | €454.5m (£381.8m), up 11% |
| Matchday / broadcast / commercial | €79.9m / €218.6m / €156.0m |
| Forbes value | $2.95bn, 11th |
| Owner | Apollo Sports Capital majority since 12 March 2026 |
Apollo Sports Capital completed its takeover of Atletico on 12 March 2026 in a deal Sportico values at €2.2bn, the second-largest control sale of a football club after Chelsea. Forbes' 74% jump in Atletico's valuation to $2.95bn reflects that transaction more than the 11% revenue growth.
14. Aston Villa: fastest riser in England
| Metric | 2024/25 |
|---|---|
| Revenue | €450.2m (£378.2m), up 45% |
| Matchday / broadcast / commercial | €80.2m / €286.7m / €83.3m |
| Forbes value | $1.4bn, 16th |
| Owner | V Sports (Nassef Sawiris and Wes Edens) |
Villa jumped four places to 14th after their first Champions League campaign since 1983, with broadcast income accounting for almost two thirds of the total. Commercial revenue of €83.3m is the lowest in the top 17, which is the gap the ownership will need to close to keep climbing.
15. AC Milan: holding position without Europe
| Metric | 2024/25 |
|---|---|
| Revenue | €410.4m (£344.7m), up 3% |
| Matchday / broadcast / commercial | €87.0m / €160.9m / €162.5m |
| Forbes value | $1.85bn, 14th |
| Owner | RedBird Capital Partners |
Milan dropped two places to 15th after an eighth-place Serie A finish cost them European football for 2025/26. Commercial income now narrowly outweighs broadcast, which cushions the club against another season outside the Champions League.
16. Juventus: growth returns
| Metric | 2024/25 |
|---|---|
| Revenue | €401.7m (£337.4m), up 13% |
| Matchday / broadcast / commercial | €64.5m / €177.4m / €159.8m |
| Forbes value | $2.4bn, 12th |
| Owner | Exor (Agnelli family), publicly listed |
Juventus held 16th with 13% growth as Champions League football returned. Matchday income of €64.5m is the lowest of any club above 18th place, a consequence of a home ground roughly half the size of San Siro.
17. Newcastle United: richest owner, 17th on income
| Metric | 2024/25 |
|---|---|
| Revenue | €398.4m (£334.7m), up 7% |
| Matchday / broadcast / commercial | €67.6m / €191.6m / €139.2m |
| Forbes value | $1.25bn, 19th |
| Owner | Public Investment Fund (85%) and RB Sports and Media (15%) |
Newcastle are the clearest example of owner wealth not equalling club wealth. The Public Investment Fund controls assets of more than $900bn by its own account, yet the club's Premier League spending is capped by what it earns, and €398.4m leaves it behind Juventus and AC Milan.
18. VfB Stuttgart: the largest riser in Europe
| Metric | 2024/25 |
|---|---|
| Revenue | €296.3m (£248.9m), up 79% |
| Matchday / broadcast / commercial | €70.2m / €120.5m / €105.6m |
| Forbes value | $0.88bn, 28th |
| Owner | Member association majority with corporate partners |
Stuttgart's 79% growth is the largest of any club in the 2026 edition, lifting them from outside the top 30 into 18th on the back of a first Champions League campaign since 2009/10 and a DFB-Pokal win. Brand Finance named them the fastest-growing football brand of 2026.
19. Benfica: first top-20 entry in two decades
| Metric | 2024/25 |
|---|---|
| Revenue | €283.4m (£238.1m), up 27% |
| Matchday / broadcast / commercial | €62.8m / €148.4m / €72.1m |
| Forbes value | $0.96bn, 23rd |
| Owner | Member-owned club with a listed subsidiary |
Benfica are the only Portuguese club in the top 20 and the first since 2005/06, climbing six places from 25th. Champions League and Club World Cup broadcast income makes up more than half of the total, and player trading, which Deloitte excludes, would add a large sum on top.
20. West Ham United: the only English club in decline
| Metric | 2024/25 |
|---|---|
| Revenue | €276.0m (£231.8m), down 14% |
| Matchday / broadcast / commercial | €47.1m / €157.5m / €71.4m |
| Forbes value | Outside the Forbes top 30 in 2026 |
| Owner | David Sullivan-led shareholder group |
West Ham fell three places to 20th after a season without European football, the only English club in the list to lose income. Matchday revenue of €47.1m is the lowest in the top 20 despite one of England's largest grounds, which reflects the club's tenancy at the London Stadium rather than attendances.
Revenue, value or owner wealth: why the lists disagree
Three clubs move sharply depending on the measure. Manchester United are eighth on revenue but third on Forbes value. Newcastle are 17th on revenue but sit under football's wealthiest owner. Manchester City are sixth on income yet third on Football Benchmark's enterprise value ranking of May 2026. The table shows where each measure places the four most-searched clubs.
| Club | Deloitte revenue rank | Forbes value rank | Owner |
|---|---|---|---|
| Real Madrid | 1 | 1 | Club members |
| Manchester United | 8 | 3 | Glazer family and INEOS |
| Manchester City | 6 | 7 | Abu Dhabi United Group |
| Newcastle United | 17 | 19 | Public Investment Fund |
Broadcast income explains most of the movement year to year. Deloitte's figures show the Club World Cup alone added an average 17% to the broadcast lines of the 10 Money League clubs involved, which is why Champions League tickets are the fixtures that decide whether a club climbs or falls in January 2027.
FAQs
1. Which football club is the richest in Europe in 2026?
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Real Madrid are the richest club in Europe on every measure, and their 2025/26 accounts approved on 28 July 2026 show revenue rising again to a record €1,221m.
2. Is Newcastle United the richest club in the world?
-
Newcastle United have the wealthiest owner in football but rank 17th in Europe on revenue, because Premier League profitability rules tie spending to what the club earns rather than what its owner holds.
3. Why is Manchester City no longer the richest club?
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Manchester City topped Deloitte's ranking in the 2022 and 2023 editions, but a 1% fall in 2024/25 revenue after a third-place finish and a Champions League play-off exit dropped them to sixth while Real Madrid grew 11%.
4. Are the richest clubs also the most valuable?
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Not always, since Forbes values clubs on global brand, stadium potential and recent sale prices, which is why Atletico Madrid's valuation rose 74% in 2026 on the back of a takeover while their revenue grew 11%.
5. When is the next Deloitte Football Money League published?
-
Deloitte publishes each edition in the second half of January, so the 30th edition covering 2025/26 revenue is expected in January 2027.
Demand for the most sought-after fixtures at these clubs regularly outstrips the seats available, which is where 1BoxOffice comes in: every order through the marketplace is covered by a 150% money-back guarantee if tickets fail to arrive as described.
Sources: Deloitte Football Money League 2026, Forbes, Football Benchmark, Brand Finance, Sportico, Sky Sports, BBC Sport, Real Madrid CF, Atletico de Madrid and Apollo Sports Capital.
