Manchester United have fallen to the bottom of the Deloitte Football Money League, with Liverpool becoming Britain’s highest paid club for the first time.
The Red Devils were once considered the blueprint for commercial success in football, finishing first in the Money League in 10 of its 29 editions, most recently winning the title in 2017.
However, due to United’s absence from the Champions League in 2024-25, their broadcasting revenue has fallen from €258m (approximately £216.72m) to €206m (approximately £172.9m), resulting in them dropping to eighth in the 2026 table.
The club’s matchday revenue is expected to be even lower this season due to its complete absence from European competition, and failure to clear the first hurdle in domestic cup competition means there will only be 20 competitive games at Old Trafford in 2025-26.
Tim Bridge, Deloitte’s Sports Business Group Leader, said: “Clubs with the biggest football club brands and market positions have an opportunity to extend their reach, offer more services to fans on match days, more services to fans on non-match days and become more of a 365-day touchpoint.” “United are probably just starting that journey now because of the reported stadium development.
“If you go back 10 or 15 years and look at Manchester United’s matchday revenue, Manchester United were leaders in the industry. If you look at their ability to generate commercial revenue, that was the standard by which everyone went into the market and built their strategy back then. I don’t think that’s still the case now.”
“An opportunity remains for Manchester United. Manchester United remains arguably the biggest football club brand in the world and therefore has the opportunity to maximize it in a way that only a select few can.
“But that requires facilities that are fit for purpose. As the industry evolves, clubs should ask themselves whether they need to rethink how they engage with their fans and how that relationship works. With reports of a new stadium, it’s clear that they’re starting to do some of that and it’s clear that they’re thinking that way. They’re later than Real Madrid and Barcelona in making that change, but the opportunity is still there.”
United are the fourth English club in the Money League in 2026 behind Liverpool, Manchester City and Arsenal, with Real Madrid at the top, becoming the first team to have a revenue of between €1 billion and €1.161 billion, or £975.2 million.
Liverpool return to the Champions League in the 2024-25 season and are in fifth place after a 7% increase in commercial revenue from non-match events at Anfield.
It is the first time that an English team is not in the Money League’s top four, with Real, Barcelona, Bayern Munich and Paris Saint-Germain all benefiting from a place in the newly expanded Champions League and summer’s expanded FIFA Club World Cup.
Deloitte said the Club World Cup increased broadcasting revenue by an average of 17% for the 10 participating Money League clubs.
While Premier League teams may be expected to perform generally well in the 2027 Money League, which will first reflect a new broadcast deal that runs until 2029, Bridge said the best performing clubs will continue to be those that combine success on the field with diversification off it.
“The secret to staying[in the top five]is to keep both. Before, you only had to keep one or the other. Now, in 2026, the most profitable clubs will probably be clubs that are broader than football,” he said.
Manchester City’s sixth place is their lowest since the 2019-20 season, which was affected by the coronavirus pandemic.
Nine Premier League clubs are in the Money League top 20: Tottenham (9th), Chelsea (10th), Aston Villa (14th), Newcastle (17th) and West Ham (20th).
Top-ranked women’s football club earns more than €150 million in revenue for the first time
Now in its fourth year, the Deloitte Football Money League highlights the top 15 earning women’s clubs in the world. In another record year, these clubs reported average revenues of over €10m (approx. £840m) for the first time, with cumulative revenues of €158m (approx. £132.72m), a 35% increase on last year’s total.
This year, Arsenal Women dethroned FC Barcelona Femeni for the first time, coming out on top with a turnover of €25.6m (about £21.5m), an increase of 43% on the previous season. Significant investment in fan data and activation has enabled us to achieve attendance figures of over 35,000 on five separate occasions throughout the 2024/25 season.
Chelsea Women rank a close second (£21.3m) and generate the highest commercial revenue (£16m) of the top 15. FC Barcelona Femeni (£18.5m) continued their good form in the domestic season and finished in the top three.
Jennifer Haskell, Knowledge and Insights Lead, Deloitte Sports Business Group, said: “While there has been significant growth in women’s soccer in recent years, the transition from start-up to establishment requires consistent time, investment and effort to develop the foundation in the right way.”
“As we face further milestones, including new and expanded competitions on the biggest stages, industry leaders must continue to innovate while protecting the wants and needs of fans and players to foster a more sustainable future for gaming.”
