Spanish giants, Real Madrid, have once again been crowned the highest-revenue club in world football.
For the third consecutive year, the club tops Deloitte’s global ranking after generating €1.161 billion in revenue during the 2024–25 season. That figure represents a year-on-year increase of €115.5 million and places Real Madrid nearly €200 million ahead of second-placed Barcelona (€974.8m).
This figure is almost €200 million more than the second-placed club, FC Barcelona, which recorded revenues of €974.8 million, and far ahead of the most powerful clubs in the Premier League. For example, Liverpool, ranked fifth, generated €836.1 million.
Despite failing to win any major trophies during the season, Real Madrid once again achieved outstanding financial results.
As Deloitte points out, the three main revenue streams in football “grew to unprecedented levels”.
Real Madrid were able to capitalise on this environment, consolidating their global leadership in revenue generation, from the new income created by the exploitation of the Santiago Bernabeu to participation in the Club World Cup and the Champions League.
According to the report, the key to Real Madrid’s success lies in commercial revenues, which increased by 23%, to around €570 million (£499 million). This rise was driven by “improved merchandising sales and new commercial partners”.
The Spanish capital club also generated €323 million (£281 million) from broadcast revenue. It places them at the top of the list in both categories.
Below is the full top-20 ranking from Deloitte’s report, highlighting just how far ahead Real Madrid currently stands:
Real Madrid – €1,161.0m
Barcelona – €974.8m
Bayern Munich – €860.6m
Paris Saint-Germain – €837.0m
Liverpool – €836.1m
Manchester City – €829.3m
Arsenal – €821.7m
Manchester United – €793.1m
Tottenham Hotspur – €672.6m
Chelsea – €584.1m
Inter – €537.5m
Borussia Dortmund – €531.3m
Athletic Club – €454.5m
Aston Villa – €450.2m
AC Milan – €410.4m
Juventus – €401.7m
Newcastle United – €398.4m
Stuttgart – €296.3m
Benfica – €283.4m
West Ham United – €276.0m