Arsenal has climbed to seventh place in Deloitte’s Football Money League, surpassing Liverpool, Chelsea, and Tottenham Hotspur in the latest global revenue rankings. The Gunners, who had fallen to 10th after a five-year absence from Europe’s elite competitions, earned £605.5 million in the 2023-24 season following their Champions League return and a strong domestic campaign.
The list is led by Real Madrid, who became the first football club to surpass €1 billion in annual revenue. The Spanish giants, bolstered by their 15th European Cup win and the refurbishment of the Santiago Bernabéu Stadium, generated a record-breaking £883.7 million.
Manchester City retained second place with £708.1 million in revenue, although the gap between them and Madrid widened significantly. Manchester United climbed to fourth, overtaking Barcelona, whose earnings saw only a modest increase to £651.4 million.
Arsenal’s revenue surge came from a balanced mix of broadcasting income (£258.2 million), match-day earnings (£129.7 million), and commercial deals (£217.9 million). In contrast, Tottenham Hotspur, lacking European football, dropped to ninth with a reduced income of £519.9 million.
Liverpool fell to eighth, earning £604.2 million, while Chelsea slipped to 10th, recording £461.2 million—down £51.3 million from the previous year. This marks Arsenal’s first time surpassing both Liverpool and Chelsea in revenue since the 2016-17 season.
Deloitte’s report underscores the Premier League’s financial dominance, with nine clubs— including Newcastle, West Ham, and Aston Villa—placing in the top 20 earners. In comparison, Spain, France, and Italy had three representatives each, while Germany’s Bayern Munich and Borussia Dortmund completed the Bundesliga’s presence.
Premier League revenue is expected to rise by 20% next season, driven by new international broadcast deals. In contrast, TV income across Europe’s other “Big Five” leagues is declining.
Deloitte’s Tim Bridge emphasized the importance of on-field success and innovative revenue generation for clubs. “Clubs that diversify income streams through partnerships and infrastructure development can unlock greater financial potential,” he said.
As competitions expand, increasing broadcast and matchday opportunities, Bridge cautioned that clubs must balance these revenue ambitions with player welfare to sustain on-field success.
