Manchester United Drops to Eighth in Deloitte Football Money League Rankings as Real Madrid Tops Revenue Charts

Manchester United has experienced its lowest ranking in the annual Deloitte Football Money League, which has been topped by Real Madrid.

Real Madrid generated a record €1.2 billion ($1.4 billion) in revenue, contributing to a combined total of €12.4 billion ($14.5 billion) for the top 20 clubs, also setting a new record. This figure signifies an 11 percent increase in total revenue compared to the previous season.

United has now fallen to eighth place in the Money League, with Liverpool emerging as the highest-earning English club for the first time, ranking fifth overall. Barcelona follows in second place, having risen from fifth, while Bayern Munich and Paris Saint-Germain occupy third and fourth positions, respectively, rounding out the top five.

Notably, two new teams entered the top 20 this year: Bundesliga club Stuttgart at 18th with €296.3 million ($345 million) in revenue, and Portuguese club Benfica at 19th with €283.4 million ($330 million). According to the Deloitte report, commercial revenue remains the largest source of income, accounting for 43 percent of the total, while matchday revenue is the fastest-growing segment, with a 16 percent year-over-year increase, making up 19 percent of the total.

The remaining 38 percent of revenue stems from broadcasting rights, which saw a 10 percent growth. Clubs participating in the Club World Cup last summer experienced a 17 percent increase in their broadcast revenues.

Once viewed as a model for commercial success in football, Manchester United has topped the Money League in 10 of its 29 editions, most recently in 2017. However, the club’s current eighth-place standing is partly attributed to a drop in broadcast revenue from €258 million ($301 million) to €206 million ($240 million) due to their absence from the Champions League in the 2024-25 season.

This season, United is expected to generate even less matchday revenue as they are not participating in European competitions, and their early exit in domestic cups means they will play only 20 competitive matches at Old Trafford in the 2025-26 season.

Tim Bridge, the Sports Business Group Leader at Deloitte, commented on the situation, stating, “Clubs with strong football brands have the opportunity to broaden their reach and enhance fan engagement, both on matchdays and beyond. United is only just starting this journey, especially considering the planned stadium development.”

He further noted, “Ten or fifteen years ago, Manchester United’s matchday revenue was unparalleled, and their ability to generate commercial revenue set the industry standard. However, that is no longer the case.”

Despite their challenges, Bridge emphasized the potential that remains for Manchester United, highlighting their status as arguably the largest global football club brand. Nevertheless, achieving this potential requires modern facilities and a rethinking of fan engagement strategies.

In the 2026 Money League, United ranks as the fourth English club, behind Liverpool, Manchester City, and Arsenal, which occupy the fifth, sixth, and seventh positions overall, respectively. Liverpool’s return to the Champions League in the 2024-25 season contributed to a seven percent increase in their commercial revenue from non-matchday events at Anfield.

This year’s rankings mark the first instance where no English team is included in the top four, with Real Madrid, Barcelona, Bayern Munich, and PSG benefiting from deep runs in the newly expanded Champions League and FIFA Club World Cup.

Premier League clubs are anticipated to perform better in the 2027 Money League, which will reflect the new broadcast deal running until 2029. However, Bridge pointed out that the clubs that excel will be those that balance on-field success with diversified revenue streams.

Manchester City’s sixth-place ranking represents their lowest since the COVID-19-impacted 2019-20 season. Overall, nine Premier League clubs made the top 20 of the Money League, including Tottenham (ninth), Chelsea (10th), Aston Villa (14th), Newcastle (17th), and West Ham (20th).

Information from the Press Association contributed to this report.