In a remarkable turn of events, Liverpool have etched their name in the history books of the Deloitte Football Money League, while their fierce rivals Manchester United have experienced a dramatic fall from grace.
The 29th edition of the prestigious league, which ranks the top 20 highest revenue-generating football clubs for the 2024/25 season, has revealed a shifting landscape in the world of football finance.
Liverpool, the reigning Premier League champions, have become the highest revenue-generating English club for the first time, earning a staggering £728 million (€836 million). This financial success was fueled by their historic title-winning campaign, as well as their return to the UEFA Champions League. The Reds also saw a 7% increase in commercial revenue, thanks to additional non-matchday events at Anfield, including performances by renowned artists such as Bruce Springsteen, Dua Lipa, and Lana Del Rey.
In stark contrast, Manchester United’s fortunes have taken a dramatic turn for the worse. The Red Devils have plummeted from fourth to eighth in the Money League rankings, with their revenue falling to £691 million (€793 million). This decline can be attributed to a historically-bad campaign last season, which saw them finish a dismal 15th in the Premier League and miss out on European football entirely. As a result, their broadcast revenue fell from £224 million (€258 million) to £179 million (€206 million).
The list was once again dominated by English clubs, with nine top-flight sides making the cut. Manchester City, who suffered an unusually early Champions League exit and finished third domestically, dropped four places to sixth with their revenue falling to £722 million (€829 million).
Arsenal, Tottenham Hotspur, and Chelsea rounded out the top 10, with the latter retaining their position thanks to their return to the Champions League, as well as their Europa League and FIFA Club World Cup victories.
Aston Villa, meanwhile, rose four places from last year to sit 14th in the rankings, following their run to the Champions League quarter-finals in the 2024/25 campaign, with their earnings topping out at £392 million (€450 million).
Despite their Carabao Cup final victory last season, Newcastle United’s revenue fell, and the Magpies dropped two places from the previous year, with their revenue sitting at £346 million (€398 million).
The Deloitte Football Money League has once again highlighted the growing financial disparities within the sport, with the top clubs continuing to pull away from the rest. As the landscape evolves, it remains to be seen how the fortunes of these iconic clubs will unfold in the years to come.
