A lack of Champions League football in the 2023/24 season saw Liverpool FC drop one place in the Deloitte Football Money League and leapfrogged by current Premier League title rivals Arsenal. Tony McDonough reports

Liverpool Football Club has dropped one place to eighth in the latest Deloitte Football Money League and overtaken by Premier League rivals Arsenal.

This latest Deloitte league table, the 28th edition, covered the 2023/24 football season and ranks each of the 20 clubs in the table by revenue. Although it is a global league all 20 clubs are in Europe. All figures are expressed in euros.

Total revenues for all 20 clubs was €11.2bn – 6% higher than the previous season. Real Madrid set a new landmark, becoming the first football club to register more than €1bn in revenue in a single season.

Liverpool recorded total revenues of €714,700. This was similar to the previous year but other teams saw revenue growth and LFC was held back due to a lack of Champions League football. The club is back in the CL in the current season.

Arsenal, which did compete in the CL last season, saw revenues of €716,500 and moved up the table from 10th place to seventh. Manchester City were second in the table with revenues of €837,800.

Next came Paris Saint-Germain, Manchester United, Bayern Munich and Barcelona. Matchday revenue was again the fastest growing revenue stream for Money League clubs, growing 11% year-on-year;

Commercial revenues reached another record at €4.9bn and is the largest share of revenue for a second consecutive year.

Liverpool FC’s matchday revenues totalled £132m. This will increase in the current season as the new Anfield Road stand, which takes the stadium capacity above 60,000, only opened halfway through the 2023/24 season.

Broadcast revenues for the club, again hit by a lack of Champions League football, were €240,200. Commercial revenues came in at €342,500.

On Wednesday Liverpool FC revealed it is officially the most-watched team in the Premier League so far this season. Independent data released recently by Nielsen revealed that Liverpool has reached a cumulative TV audience of 133.8m viewers.

This is more than any other club in the division, across their first nine Premier League matches of the season from August to October 2024.

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According to Deloitte the average Money League club generated €560m, comprising €244m (44%) commercial revenue, €213m (38%) broadcast revenue, and €103m (18%) matchday revenue.

There was no uplift in the cumulative broadcast revenue (€4.3bn) reported by Money League clubs in 2023/24, as each of the ‘big five’ leagues remained in the same domestic broadcast cycle as the preceding season. 

Tim Bridge, lead partner in the Deloitte Sports Business Group, said: “Money League clubs continue to break records with ongoing growth in commercial and matchday revenues. 

“While on-pitch performance is critical for teams to reach the top echelons of the rankings, high performing clubs are also able to diversify the way they generate revenue through unlocking innovative partnerships and developing land and stadium space.

“While commercial revenue dominates the income of the top ten Money League clubs, broadcast income remains crucial for teams in the second half of the rankings.

Women’s football

For a third year, the Deloitte Football Money League profiles 15 of the top revenue generating women’s clubs, with these clubs reporting revenues of more than €100m for the first time. 

Cumulative revenues of €116.6m in the 2023/24 season mark a 35% year-on-year growth when accounting for group income. 

Women’s Football Money League 2025

For a third consecutive year, FC Barcelona Femení remains top amongst the clubs analysed, having generated €17.9m in revenue, a 26% increase from the 2022/23 season after accounting for group income.

Arsenal Women ranks a close second with revenues of €17.9m, having generated a 64% and 48% increase to matchday and commercial revenues respectively in the 2023/24 season.

The top five is completed by two other English clubs, Chelsea Women (€13.4m) and Manchester United Women (€10.7m), as well as Real Madrid Femenino (€10.5m). Liverpool Women were 10th in the table with revenues of £5.7m and Everton in 12th with £3.7m.

Click here to read the full Deloitte report

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