The accelerating power of Europe’s top pro soccer teams was on full display as the sport’s highest-profile clubs enjoyed a banner 2024 economically, led by Real Madrid becoming the first to surpass €1 billion ($1.04 billion) in annual revenue.
The LaLiga giant topped the 2025 Deloitte Football Money League, the annual report released Thursday from the consulting firm. The club’s €1.046 billion in revenue for the 2023–2024 season, fueled in part by the impact of renovations to its Bernabéu Stadium and titles in both LaLiga and the 2024 Champions League, rose by roughly 15% from the year before. The top five clubs for the year included:
- Real Madrid: $1.09 billion
- Manchester City: $871.4 million
- Paris Saint-Germain: $838.2 million
- Manchester United: $801.5 million
- Bayern Munich: $796 million
No North American club ranked in the top 30 clubs cited in the Deloitte report. The No. 30 entrant, Brazil’s Flamengo, generated $206.5 million. Major League Soccer’s Inter Miami previously projected a league-record $200 million in 2024 revenue, but it’s not certain whether that was achieved, and even if so, does not appear to have been enough to make the list.
Instead, the Premier League again held a dominant position, claiming nine of the top 20 slots, and 14 of the top 30.
Bigger Trends
The top 20 clubs on the list combined to generate a record $11.6 billion in revenue, up 6% from a year ago. Deloitte cited a mix of factors for the boost, including increased stadium capacities, heightened broadcast revenues, and upward trends in ticketing and sponsorship.
European clubs are also getting more active in pursuing non-match events at their facilities, as well as creating mixed-use developments around their stadiums—mirroring what has already become a core part of North American sports.
“Recognition of the reliability and potential upside from venue-generated income has led to half of the Money League pursuing stadia redevelopment in 2025,” Deloitte said.
