There are not any real surprises in our list of the top 20 richest football clubs in the world in 2024. But the order itself can easily change via a range of circumstances – for better or worse, as fans of big teams such as PSG, Barcelona and Man City know very well.
Football is big business, and the sport has become a money-generating machine for the richest football clubs over the past 20 years. TV deals, rapidly rising transfer fees, and other lucrative revenue streams have combined to create mountains of cash.
At the pinnacle of the game, the biggest clubs produce ever-heftier wedges of cash each year, and football’s financial might shows no sign of decreasing anytime soon.
Every year, financial industry leaders Deloitte publish their Football Money League detailing the richest clubs in the world, and we have taken a closer look at their rundown for 2024 below.
The top 20 richest football clubs in the world in 2024
20. Marseille – £218.7m
First to enter the list is Marseille, who have been splashing the cash in this summer's transfer window. A well-supported and popular club in France, it is not a surprise to see them have so much firepower when it comes to being able to spend their riches.
However, Marseille did not qualify for any major European competition this season, which could hinder them financially in terms of the next update.
19. Napoli – £226.6m
Napoli won the Scudetto in the 2022/23 campaign, which, coupled with added UEFA Champions League (UCL) revenue in recent seasons, means that the Italians enter the list. A big sale of wantaway star striker Victor Osimhen could also be on the cards in next summer's transfer window after he was loaned out to Galatasaray this summer, increasing their financial muscle even more.
That said, Napoli ended August 2024 by taking the crown for the second-biggest net spend in the summer transfer window, according to Transfermarkt. Four signings worth over 28m euros (£23.6m) made their way to Naples, including Serie A veteran Romelu Lukaku and (now-ex) Manchester United midfielder Scott McTominay. Only Brighton had a bigger net spend in the most recent transfer window.
However, Napoli failed to qualify for any major European competition for this campaign, after a disappointing mid-table finish in Serie A last season. That would have brought them in an extra cash flow that could end up hurting them in the longer term, especially if they fail to reach Europe again.
18. West Ham United – £232.9m
The first of eight Premier League teams to enter the list are West Ham United, who won the UEFA Europa Conference League (UECL) in the 2022/23 season. Being a Premier League club based in London too, they can charge match-going fans more for their tickets and raise prices for other sellable assets in the stadium.
However, unlike the last few seasons, West Ham have failed to qualify for any European competition this campaign. They also spent heavily on new recruits in the summer, and if they do not do well this season, their value could plummet.
17. Newcastle United – £243.6m
Since Newcastle United were taken over by mega-rich Saudi owners, their revenue streams have shot up. They have a number of sponsorships in Saudi Arabia now, plus their 2023/24 Champions League qualification would have also contributed to extra funding.
Newcastle were cruelly denied a UECL place for this season, as Chelsea took their spot following Manchester United's surprise 2-1 win in the FA Cup final over noisy neighbours Manchester City. On top of almost breaching the Premier League's Profit and Sustainability Rules (PSR) which meant that they had to be careful with spending this summer, the Magpies could well drop down on this list by the next publication.
16. Eintracht Frankfurt – £248.4m
Perhaps a surprise on this list as they have not boasted as much success on the pitch as others in recent years, but Eintracht Frankfurt sits in 16th place. This is largely due to their very loyal support while playing in one of the best leagues in the world, the Bundesliga, which also offers opportunities to make money.
Frankfurt is also competing in this season's UEFA Europa League (UEL), which provides an additional revenue opportunity. The German team may even fancy their chances of winning the competition, having won it as recently as the 2021/22 campaign.
15. Atletico Madrid – £308.2m
Being based in the Spanish capital of Madrid, Atletico have been able to take advantage of plenty of revenue opportunities, especially given their rivalry with perhaps the biggest club in the world in Real Madrid. They have also had notable success on the pitch, winning La Liga in 2013/14 and 2020/21 when it is so often dominated by Real and FC Barcelona.
Atletico were one of the biggest spenders in the summer transfer window just past, bringing in the likes of Argentina international striker Julian Alvarez from Manchester City and English central midfielder Conor Gallagher from Chelsea. They will be hoping that the heavy expenditure will turn into instant success, as they battle in both La Liga and the UCL.
14. Inter Milan – £320.7m
Inter won the Scudetto last season just behind their Milan rivals. Indeed, this would have helped boost their revenues, and we could see them overtake AC Milan in terms of riches in 2025.
Inter are among the favourites to win the UCL this season, having reached the final in the 2022/23 campaign. That extra revenue, on top of another potential Serie A title, should keep them financially stable over the next few years.
13. AC Milan – £326.1m
AC Milan are one of the most decorated and well-supported teams in world football, with only Real Madrid winning more Champions League titles than them. Based in the large and popular Italian city of Milan, there are plenty of opportunities for the Rossoneri to generate income.
Like their city rivals, the Rossoneri are also competing in this year's UCL, which will help generate extra revenue for the club with a rich history in the competition.
12. Borussia Dortmund – £355.5m
Borussia Dortmund have come so close to winning major silverware in recent years, notably losing out on the 2022/23 Bundesliga title to Bayern Munich on the final day, as well as losing the 2024 Champions League final 2-0 to Real Madrid at Wembley Stadium. They still manage to generate a lot of revenue from their large Yellow Wall support though, and have sold big in recent years with superstars like Erling Haaland and Jude Bellingham.
Dortmund are also competing in this season's UCL, and after a strong start, they will be hoping to reach the latter stages of the competition again, and generate extra revenue from that accordingly.
11. Juventus – £366.0m
Juventus is the highest-placed Italian team in this list, which is not surprising considering their recent success. Indeed, the Old Lady won nine Serie A titles in a row between 2011 and '20, although they have not lifted the Scudetto since.
Juve are another competing in the UCL this campaign, which they will hope to maximise revenue from.
10. Arsenal – £450.8m
Arsenal are one of six Premier League representatives in the top 10 and the Gunners’ Champions League involvement could allow them to climb the rankings even further. Matchday revenues from the 60,000-capacity Emirates Stadium in London are among the league’s loftiest. At the same time, owners Stan and Josh Kroenke have not been shy about investing in Arsenal since Mikel Arteta’s appointment in December 2019.
Arsenal are one of the favourites to lift both the Premier League and UCL title again this season, and should they do so, a swarm of new revenue opportunities would be expected to come their way.
9. Chelsea – £498.9m
An American investment consortium got their claws into Chelsea and immediately pumped eye-watering sums into the team, spending over £1bn in a transfer splurge. The Blues’ most recent accounts had a healthy look, but it will be interesting to see how they perform next time, having failed to qualify for the Champions League again.
Despite this, Chelsea did splash the cash again this summer, and were one of the biggest spenders in Europe's top five leagues. They did qualify for the UECL as well, and are favourites with bookmakers to win it, which should generate extra revenue streams.
8. Tottenham Hotspur – £534.5m
With the notoriously tight-fisted Daniel Levy calling the shots, Tottenham Hotspur's financial results are always likely to impress. Though they have an enormous stadium debt to pay off, Spurs have been raking in the cash since moving into their state-of-the-art new home. New sponsorship deals are also a contributing factor, and Tottenham’s income has taken another considerable jump over the past 12 months.
Like many others in this list, Spurs invested heavily in the summer transfer window, spending a club-record £65m to sign striker Dominic Solanke from fellow Premier League side AFC Bournemouth, who has recently earned an England call-up under interim Three Lions boss Lee Carsley. The North London club will also generate revenue from competing in the UEL this season.
7. Liverpool – £578.0m
With their Anfield expansions, Premier League performances and Champions League success all driving numbers up, Liverpool’s finances are healthy, though Reds supporters would like to see owners FSG allocate more of their cash to the recruitment department. Liverpool missed out on Champions League qualification for 2023/24, however, so their income has dipped.
Nonetheless, they have qualified for the competition this season, and given their historic success in it, they may fancy themselves to go far once more and benefit financially from it.
6. Bayern Munich – £629.7m
Bayern Munich are Germany’s most popular team by a distance. Despite losing out to Bayer Leverkusen in 2023/24, their tight stronghold over the domestic game there has allowed them to build a rock-solid financial platform. The Bavarians are routinely among the Champions League’s most competitive outfits, too, while the sponsorship deals they attract are among the sweetest in football.
They will no doubt be eager to improve on their trophyless campaign in 2023/24, as winning trophies reap financial benefits.
5. Manchester United – £631.3m
Manchester United have been slipping down the rankings in recent years, possibly due to financial mismanagement from their owners. With a huge principal debt to service, interest payment responsibilities, and soaring salaries paid to second-tier talent, United have been a bit of a mess. However, in terms of revenues earned, the Red Devils are right up there, which suggests they could be a force to be reckoned with under their new stewardship.
They were one of the biggest spenders in Europe's top five leagues in the summer, but none of the new signings have really been able to hit the ground running properly. Another poor season could well see United struggle again financially.
4. Barcelona – £677.2m
La Liga heavyweights Barcelona have had some well-documented financial crises, with Los Cules activating their infamous “levers” to keep themselves in the black. However, the Catalonian giants remain one of the game’s biggest hitters in terms of revenue due to their consistent appearances in the Champions League and the sky-high matchday funds they accrue at the 90,000-seater Camp Nou.
More UCL revenue should be generated this season, and a strong start to La Liga should elevate their hopes of taking the title away from their bitter rivals Real Madrid.
3. Paris St. Germain – £678.7m
Funded by swathes of Qatari cash, PSG wield as much clout as any other club in the transfer market. Many of their sponsorship contracts, especially those of Qatari origin, help to fill their coffers annually, and the Parisians’ yearly runs to the Champions League knockout stages also help to increase the cash flowing in.
Marketable players like Kylian Mbappe, Neymar, and Lionel Messi have also contributed to earning PSG the big bucks.
2. Manchester City – £699.1m
Manchester City reported record revenues last year, placing them second on Deloitte’s list ahead of their illustrious rivals. However, the Premier League is investigating the Cityzens for 115 alleged financial irregularities, many of which are related to artificial inflation of revenue and sponsorship streams.
Nevertheless, City’s success on the pitch continues to create new wealth off it, so we expect them to be loitering near the top of this list again in 12 months, regardless of what happens in their upcoming hearing. Indeed, the City Football Group injected £210m into the club in the final week of August 2024, to give Man City an optimal chance of ensuring that they can avoid financial rule breaches in 2024/25.
1. Real Madrid – £703.7m
The world’s biggest club, Real Madrid have been listed among the globe’s richest outfits for an age, and Los Blancos can draw from one of football’s deepest funds whenever a new superstar catches their eye. A series of Champions League triumphs over the past decade have added more zeros to their account balance, with Real earning a lot from La Liga TV and prize money on top.
Indeed, Los Blancos' illustrious financial history gained an extra degree of dominance over the rest in July 2024, when they became the world's first football club to rake in more than one billion euros in revenue (£840m).
That figure does not even include player transfers either, and represents a rise of approximately 27% on the previous year's total revenue. Overall, Real made 16m euros (approximately £13.5m) in profit during the 2023/24 financial year.
What is the Deloitte Money Football League?
The Deloitte Money Football League is a yearly profile of the highest-revenue clubs in world football. It claims to be the industry’s most reliable independent analysis of the top-earning clubs, and several of the biggest media companies use it as a reference point for their own financial figures analyses.
Deloitte itself is the biggest professional services network in terms of revenue and number of employees in the world. It is considered to be one of the “Big Four” accounting firms. They have released 27 Deloitte Money Football League profiles in total now, with the latest edition coming in February earlier this year.
They calculate the clubs' “riches” by revenue generated in the previous footballing season, so for example, the 2024 profile focuses on the revenues generated from the 2022/23 campaign. Revenue can be generated in various ways, from tickets and products sold on matchdays to commercial and broadcast revenue, and all of the figures are calculated to form a total revenue for each club.
