The Deloitte Football Money League report clearly shows Manchester United dropping out of the top five highest-earning clubs globally for the first time in several decades, while Real Madrid continues to hold the crown as the richest football club.
On 22 Jan 2026 GMT+7, Manchester United fell from the top five highest-earning clubs worldwide, according to the Deloitte Football Money League report for the 2024/25 season, dropping to 8th place for the first time in 29 years of the ranking.
A season without European football and inconsistent results under coach Rúben Amorim directly impacted revenue, with the "Red Devils" earning a total of £692 million—over £300 million less than leaders Real Madrid.
Meanwhile, the "Los Blancos" continue to hold the title of the world's richest club for the second consecutive year after making history by generating revenues exceeding £1.01 billion from all sources, including matchday, broadcasting, and commercial activities.
Liverpool became the highest-earning Premier League club, raking in £729 million during their title-winning season, and also having the highest player wage bill in England at £437 million.
The report also states that the Premier League has six clubs in the top 10, with Manchester City (£723 million) and Arsenal (£717 million) maintaining their positions near the top, while Tottenham and Chelsea rank 9th and 10th respectively.
Deloitte experts noted that although Manchester United stumbled, their commercial potential remains strong. However, without improvements to their stadium, matchday revenue systems, and on-field performance, returning to their former peak will not be as straightforward as in the past.
Top 10 Highest-Earning Football Clubs in the 2024/25 Season
Real Madrid – £1.013 billion
Barcelona – £851 million
Bayern Munich – £751 million
Paris Saint-Germain – £730 million
Liverpool – £729 million
Manchester City – £723 million
Arsenal – £717 million
Manchester United – £692 million
Tottenham Hotspur – £587 million
Chelsea – £510 million
