European football is increasingly richer. The 27th edition of the Deloitte Football Money League, published by the Sports Business Group of Deloitte notes that i top 20 clubs with the highest revenues in world football they have earned the amount overall record of 10,5 billion euros during the 2022/23 season, the first time ever, with an increase of 14% compared to the 9,2 billion in the 2021/22 season.
There are 10 clubs that exceed 500 million in turnover. Back at the top of the rankings Real Madrid (831 million) surpassing the Manchester City (825 million) and the psg (801 million). And the Italians? There are four teams present with a new entry, the Napoli (267 million) which enters the Top 20 at number 19. The others are there Juventus (11th), the Milan (13th) and theInter (14 °).
Record match takings. Commercial revenue is the primary source of income
Club revenue growth was driven by record match takings (1,9 billion euros) and come on commercial revenues (4,4 billion euros, +16%), with the latter exceeding those coming from television revenues. Capital gains from the transfer market are excluded from revenues.
Match revenues have been driven by strong fan interest in live sport, with stadiums open at maximum capacity across continental Europe in the 2022/23 season. Thirteen of the top 20 clubs reported record matchday earnings, mainly thanks to clubs from the Bundesliga, Serie A, Ligue 1 and La Liga.
Some clubs in these leagues have seen an increase in stadium usage compared to pre-pandemic levels, with Ac Milan, Fc Internazionale Milano and Ssc Napoli reporting double-digit increases compared to 2018/19. With the end of the pandemic, there has, in fact, been a strong demand for live football experiences in stadiums.
- commercial receipts they have become the main source of income for Money League clubs, marking a significant change from the 2015/16 season (excluding the Covid 2019 affected 20/19 season). Notably, 17 of the top 20 clubs reported an annual increase in commercial revenue, primarily driven by improvements in retail sales, revenue from non-match events and the recovery of revenue from sponsors, previously impacted by the pandemic.
I revenues from television rights are, instead, grown by 5% a limited growth mainly because the 2022/23 season is included in existing domestic television deals. Overall, Money League clubs recorded an average turnover of more than €500 million, with commercial and television revenues contributing similarly, at €222 million (42%) and €213 million (40%) respectively. ), followed by matchday revenues (92 million euros, 18%).
Real Madrid, Man City and PSG on the podium, Arsenal closes the Top 10
Il Real Madrid returns to the top of the Money League with a revenue record equal to 831 million euros, recording an increase of 118 million compared to the previous year. The revenue growth was primarily due to strong retail sales performance, increased stadium attendance and a recovery in sponsorship revenue amid the easing of pandemic-related restrictions. And the inauguration of the is also approaching soon new Santiago Bernabeu stadium.
Despite an extraordinary 2022/23 season, both on and off the pitch, the Manchester City ranks second in the 2024 rankings. The club achieved a record of revenues of 826 million euros, thanks to successes in the Champions League and Premier League, which contributed to an increase of €50 million in commercial revenues and €26 million in broadcast revenues.
Il Paris Saint-Germain entered the top 3 for the first time with revenues of 802 million euros, followed by Barcelona in fourth place with 800 million euros. Barça gained positions compared to the previous year thanks to record revenues from licensing and merchandising and the return of fans to stadiums. They then follow Manchester United with 746 million euros and Bayern Monaco which ranks sixth with 744 million euros.
Il Liverpool, instead, suffers the greater decline in the ranking, dropping from third to seventh place with 683 million euros. What matters is the decline in results on the pitch in both national and European competitions. Tottenham, Chelsea e Arsenal complete the top 10 with 631, 590 and 532 million euros respectively. The Gunners have exceeded the 500 million turnover threshold for the first time.
The only teams (other than Liverpool) to suffer are outside the Top 10 a drop in revenues are Atletico Madrid and West Ham.
And Serie A?
La Juventus maintains its position as the Italian club with the highest turnover, remaining in 11th place with an 8% increase in revenues, which reach 432 million euros. The Milan makes notable progress, thanks to positive results both at national level and in the UEFA Champions League, moving from 16th to 13th position with a 50% increase in revenues, which stand at 385 million euros compared to the previous season. L'Inter remains stable in 14th place with an increase of approximately 50 million euros in revenues, reaching approximately 379 million euros, an increase of 23% compared to the previous year. The Napoli, thanks to the victory of the scudetto and the quarter-finals in the Champions League, enters the top 20, placing itself above 267 million euros in total revenues, recording a growth of 71%.
The Top 20
While the top 10 clubs have remained unchanged from 2021/22, there have been notable changes between positions 11-20, with Eintracht Frankfurt, Napoli and Olympique de Marseille having replaced a trio of clubs of the Premier League: Leicester City, Leeds United and Everton. Demonstrating that the field matters more than financial revenues. In the 2022/23 season, the number of Premier League clubs in the Money League fell to 8, down from the previous 10, highlighting changes in the economic dynamics of European football.
Chasing the Top 20 are from 21st to 30th position: Aston Villa, Benfica, Brighton & Hove Albion, Roma (214,9 million), Sevilla, Fulham, Leeds United, Crystal Palace, Olympique Lyonnais, Everton.
The question is growing, is the Super League coming?
“Another record-breaking year for Money League clubs representing the continued financial strength of the football industry,” he explained Tim Bridge, partner of the Sports Business Group of Deloitte -. The high demand for live sports suggests afurther growth in particular in commercial revenues and those resulting from the matchday. Since clubs seem to no longer be able to count on exponential growth in revenues from TV rights, the creation of a more commercially focused business model will allow them to gain greater control over their financial stability. This may include the development of new merchandising or non-match events, such as concerts, to create new commercial offerings.”
Bridge then added: «In the coming seasons European clubs could try to further diversify its revenues to gain control over a larger share of their total revenue. This will allow clubs to protect themselves not only from variability in performance on the pitch, but also from more difficult macroeconomic conditions and changes in the football system. At a time when clubs face an increased degree of financial regulation, it will be vital to find the right balance between securing the best talent on the pitch and supporting a strong financial base through commercial activities."
