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Real Madrid has overtaken Manchester City and topped the Deloitte Football Money League as the world’s highest revenue-generating club in the 2022-23 season, with commercial revenue taking over as the largest income stream for teams.
The Spanish club, leaders for the first time since the 2017-18 season, generated total revenue of 831 million euros ($907.78 million), followed by City (826 million euros) and Paris St Germain (802 million euros).
Barcelona moved from seventh last year up to fourth, generating 800 million euros while Manchester United slipped one place to fifth as they made 746 million euros.
Real recorded an increase in revenue of 118 million euros over the previous year, their 16% growth attributed to strong retail performance, higher stadium attendance and recovery of sponsorship income.
Despite City losing the top spot, which they had held for the last two years, the club reported its highest ever revenue for a season, thanks to their treble-winning campaign which bolstered their broadcast and commercial revenues.
Commercial revenue was the largest income stream at clubs for the first time since 2015-16, excluding the COVID-19 impacted 2019-20 season, as broadcast revenue increased by a modest 5%.
Liverpool, the biggest movers in last year’s edition, rising from seventh to third, reported the greatest fall in year-on-year rankings this year as they returned to seventh, one of three clubs to report a decline in revenue.
Atletico Madrid and West Ham United are the other two clubs with a drop in revenue, and Premier League sides now make up eight of the top 20, down from 11 last year, with Leicester City, Leeds United and Everton replaced by Eintracht Frankfurt, Napoli and Olympique Marseille.
The total revenue generated by Money League clubs in 2022-23 is a record 10.5 billion euros, a 14% increase over the previous year and topping pre-pandemic levels (9.2 billion euros in both 2021-22 and 2018-19).
Deloitte’s Football Money League reported on revenues generated from women’s teams for the second time, with Barcelona retaining the top spot generating revenue of 13.4 million euros, an increase of 74% on last year.
Manchester United remain second with revenue of eight million euros followed by Real Madrid (7.4 million euros), City (5.3 million euros) and Arsenal (5.3 million euros).