Manchester City was superseded by Real Madrid to become the club with the highest revenue generation in 2022-23, propelling the Spanish club to the summit of football’s “Money League.”

Real Madrid regained the top spot in Deloitte’s financial rankings for the first time since 2017-18 with a record-breаking revenue of €831 million ($905 million), a €118 million increase from the previous year.

Real Madrid lost in the Champions League semifinals to Manchester City and fell 10 points short of La Liga champions Barcelona. However, the club’s expansion can be primarily attributed to improved retail performance, increased stadium attendance, and the recuperation of sponsorship revenue subsequent to the relaxation of CоVID-19 regulations.

In the 2024 rankings, Manchester City, which finished first in the Premier League, Champions League, and FA Cup, is relegated to second place.

With 826 million euros in revenue, the club achieved its highest-ever season in terms of earnings. Broadcast and commercial revenues were each increased by 50 million euros and 26 million euros, respectively.

With 802 million euros in revenue, French champions Paris Saint-Germain rose into the top three for the first time.

Barcelona have risen from seventh to fourth place with 800 million euros in revenue, fueled by club-record licensing and merchandising earnings and the return of supporters to the stadiums.

For the first time since the 2015-16 season, commercial revenue emerged as the primary source of income for ‘Money League’ clubs, exclusive of the 2019-20 season impacted by CоVID-19.

A year-on-year increase in commercial revenue was reported by seventeen of the top twenty clubs. This growth was primarily attributed to enhanced retail sales, revenue generated from non-matchday events, and the recovery of sponsorship income that had been adversely affected by the pаndemic.

Tim Bridge, lead partner in the Sports Business Group of financial specialists Deloitte, remarked, “Another year of record-breаking profits for Money League clubs demonstrates the football industry’s continued financial prowess.”

“A strong demand for live sports indicates that commercial and, in particular, matchday revenues will continue to increase.”

“As it appears that clubs can no longer depend on exponential growth in broadcast revenue, developing a business model that is more commercially oriented will enable them to regain greater control over their financial stability.”

Liverpool has experienced the most significant decline of any club in the top 20, falling from third to seventh place, after Deloitte discovered that their revenue had decreased marginally from 694,7 million euros to 694,2 million euros.

That decline was ascribed by Deloitte to the Reds’ on-field performance, as the club finished fifth in the Premier League and were eliminated in the round of 16 of the Champions League.

Although Manchester United recorded a higher revenue figure compared to the previous season, they fell one position to fifth.

Comparatively to the previous year, Tottenham and Chelsea switched positions, with Tottenham climbing one spot to eighth and Arsenal maintaining tenth.