Deloitte has unveiled its new annual ranking of European football club revenues. Only three Italian clubs make the top 20, and none make the top 10.
As Calciomercato.com write, every year Deloitte – one of the so-called ‘Big Four’ international consulting and auditing firms – publish their now-famous Deloitte Money League report, which analyses and ranks football clubs based on annual revenue.
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This data also inevitably leads to a comparison among the world’s most important and influential clubs. The Italian teams grew in the 2024-25 season, but none have managed to enter the top 10.
According to the previous Deloitte Football Money League report (published January 2025, covering the 2023-24 season), Milan had overtaken Inter and Juventus to become the number ones in Italy for revenues.
The method and the top 10
What does Deloitte’s study take into account? The most significant items are matchday revenue (€2.4bn overall), broadcast revenue (€4.7bn) and commercial revenue (€5.3bn).
Real Madrid remain in first place in the rankings, also remaining the only club to generate over €1bn in revenue. Barcelona, even without the revenue from the Camp Nou (under renovation), returned to the podium in second place with €975m. Bayern Munich close in third with €861m.
The positions from four to 10 are: Paris Saint Germain with €837m, Liverpool with €837m, Manchester City with €928m, Arsenal with €822m, Manchester United with €794m, Tottenham with €672m and Chelsea with €584m.
Inter made a significant leap in the rankings, though not enough to break into the top 10. The Nerazzurri, with a 37% increase compared to 2023-24, reached €537.5m and ranked 11th.
Milan, with a mere 3% increase, ranked 15th with €410m, while Juventus followed in 16th place with €402m, a 13% increase. The last Italian club in the top 30 is Roma, holding on to 27th place with €216.3m.
11) Inter – €538m
12) Dortmund – €531m
13) Atletico Madrid – €455m
14) Aston Villa – €450m
15) Milan – €410m
16) Juventus – €402m
17) Newcastle – €398m
18) Stuttgart – €296m
19) Benfica – €283m
20) West Ham – €276m
Damn we lost to aston Villa, I guess all club often at disadvantaged against premier League in this kind of thing.
Well…so/so. Yes, they have more revenues mostly due to the TV rights, but they are also doomed to spend a lot more on players, because otherwise they have no chance in the premier league and because clubs like Chelsea, Man (both), Liverpool, etc. hyperinflate the PL market. If they don’t spend the “PL premium” on salaries they will have no chance in the league. So higher revenues alone means nothing.
While this hyperinflation affects all leagues, we have the advantage of having better access to CL and also the chance to fight for trophies – while every club has it’s important place, champions don’t want to stay for too long somewhere they can’t win a thing.
The Premier League is likely to occupy 6 or the 8 spaces at the top of the ULC league phase. Football is completely broken.
Age old argument I’ve made so many times – we either keep “Calcio” but resign ourselves to always losing talent to “bigger” clubs and maybe winning the Europa League, or we join the global circus (the path we are on), have instagram-able players, win shiny new global competitions, but completely lose our soul.
I’m in my mid forties and I go to games so I’d take the former. I think most young people would take the latter (and fair play to them), but one thing is for sure, you can’t take both.
This should put things into perspective as to where we are at in terms of financial power. And for the transfer lovers who sometimes wonder why Newcastle and Villa sometimes outbid out on the market.
Good thing though is that our history and our names from our glorious past is bridging the gap in terms of where players want to go (ie the prestige). Wonder how long that is going to last though
Does Deloitte even do their research? Heck, did Sempremilan?
€494.5 million is our revenue in 24/25.
It’s on our goddamn website. I’d link it but it’s not allowed, but how the heck does Sempremilan miss this? You literally report on Milan news….
Pretty embarrassing if you ask me.
Most probably because Deloitte applies a specific and more importantly consistent methodology across all clubs in all countries. Rest assured they are not just compiling data from each club’s website.
Also it is not the forum’s job to verify the analysis of one of the largest audit companies. Please apply common sense every now and then.