REAL MADRID TOPS DELOITTE MONEY LEAGUE WITH RECORD €1.16 BILLION REVENUE
For the first time in history, Liverpool has outearned Manchester United, while Real Madrid remains the world's richest club.
For the first time, Liverpool have pulled ahead of Manchester United as the Premier League’s top earners, but Real Madrid still sit at the very top of world football’s financial ladder for the 2024-25 season, according to Deloitte’s latest annual report.
Real Madrid led the pack in the Football Money League, raking in 1.16 billion euros ($1.36 billion) in revenue—even though they didn’t win La Liga or the Champions League. They’re actually the only club to break the $1 billion mark in each of the last two seasons. This year, their commercial revenue soared by 23 per cent, hitting 594 million euros ($696.6 million), thanks to booming merchandise sales and new corporate partnerships.
Barcelona, their old rivals and the reigning La Liga champs, climbed back into the top three for the first time in five years. They earned 975 million euros ($1.14 billion), taking second place.
Bayern Munich, Bundesliga champions, landed in third with 861 million euros ($1.09 billion), just ahead of Paris St-Germain, who brought in 837 million euros ($981.5 million) after winning the Champions League.
Then comes Liverpool. Their 836 million euros ($980.4 million) from the season they won the Premier League put them fifth worldwide—the strongest showing by any English club in the Money League’s 29-year history.
Manchester City dropped to sixth with 829 million euros ($721.3 million), while Arsenal, current Premier League leaders, took seventh with 822 million euros ($1.1 billion).
Now, about Manchester United—the story gets a little grim. They finished a dismal 15th in the Premier League last season, and their revenue fell from fourth to eighth, landing at 793 million euros ($929.7 million). That’s the lowest they’ve ever ranked in the Money League, after topping it a record ten times.
Deloitte pointed out that things won’t get better for United this season either. With no European matches and early exits from both the FA Cup and League Cup, their revenue outlook looks even worse.
“If you go back 10 or 15 years, United led the industry in matchday revenue,” said Tim Bridge from Deloitte’s Sports Business Group. “Their commercial muscle used to be the gold standard. That’s just not true anymore.”
Six Premier League clubs cracked the global top ten: Tottenham came in ninth with 673 million euros ($789.1 million), and Chelsea rounded out the list at tenth with 584 million euros ($684.8 million).
Total revenue for the top 20 clubs hit a record 12.4 billion euros ($14.5 billion), up 11 per cent from last year. Commercial income reached 5.3 billion euros ($6.2 billion), thanks to stadiums hosting more non-football events, bigger sponsorship deals, and better retail strategies.
Matchday revenue saw the fastest growth, jumping 16 per cent to 2.4 billion euros ($2.8 billion). Broadcast revenue also climbed by 10 per cent, boosted by the expanded FIFA Club World Cup in the US last year.
Looking ahead, Deloitte flagged the rise of Saudi Pro League clubs and Inter Miami in Major League Soccer as possible threats to Europe’s financial dominance.
“Teams stacked with star players have really lifted the global profile of these clubs and leagues,” Deloitte said. “Especially for MLS, making the most of the buzz after the 2026 FIFA World Cup could open up a whole new market of football fans in the US.”
THOMAS TUCHEL NAMES EXPANDED ENGLAND SQUAD FEATURING FOUR SURPRISE NEW INCLUSIONS
Thomas Tuchel hands maiden England call-ups to James Garner and Jason Steele while omitting Trent Alexander-Arnold.
James Garner from Everton and Brighton’s goalkeeper Jason Steele have earned their first call-ups to the England squad. Alongside them, AC Milan’s defender Fikayo Tomori and Tottenham’s forward Dominic Solanke have also been included. However, Trent Alexander-Arnold and Luke Shaw did not make the cut this time.
Jude Bellingham, despite being sidelined since early February due to a hamstring injury, is still part of the squad. Experienced centre-back Harry Maguire, now 33, has the chance to add to his 64 caps, while 20-year-old Kobbie Mainoo, who started in the Euro 2024 final, is also selected. Both last represented England in September 2024 but have been rewarded for Manchester United’s recent good form, which has lifted them to third place in the Premier League.
Luke Shaw, pushing for inclusion, has been overlooked once again. Instead, Tuchel has called up Newcastle’s Lewis Hall, marking his first call-up since Tuchel took over.
This squad is larger than usual, with players arriving in two phases during the international window. Tuchel explained on the Football Association’s website that the first group includes players who haven’t played much recently, aiming to broaden competition for spots in the upcoming US tour. Then, from Friday to Saturday, another group will join, including some who’ve had a short rest, to mix things up for the match against Japan.
England will face Uruguay at Wembley on March 27, followed by a home game against Japan on March 31. Looking ahead, the World Cup kicks off on June 11 in Canada, Mexico, and the United States, with England considered among the contenders.
Here’s the full squad breakdown:
Goalkeepers: Dean Henderson (Crystal Palace), Jordan Pickford (Everton), James Trafford (Manchester City), Aaron Ramsdale (Newcastle), Jason Steele (Brighton)
Defenders: Dan Burn (Newcastle), Marc Guehi (Crystal Palace), Lewis Hall (Newcastle), Ezri Konsa (Aston Villa), Tino Livramento (Newcastle), Harry Maguire (Manchester United), Nico O’Reilly (Manchester City), Jarell Quansah (Bayer Leverkusen), Djed Spence (Tottenham), John Stones (Manchester City), Fikayo Tomori (AC Milan)
Midfielders: Elliot Anderson (Nottingham Forest), Jude Bellingham (Real Madrid), James Garner (Everton), Jordan Henderson (Brentford), Kobbie Mainoo (Manchester United), Declan Rice (Arsenal), Morgan Rogers (Aston Villa), Adam Wharton (Crystal Palace)
Forwards: Jarrod Bowen (West Ham), Dominic Calvert-Lewin (Leeds), Eberechi Eze (Arsenal), Phil Foden (Manchester City), Anthony Gordon (Newcastle), Harry Kane (Bayern Munich), Noni Madueke (Arsenal), Cole Palmer (Chelsea), Marcus Rashford (Barcelona), Bukayo Saka (Arsenal), Dominic Solanke (Tottenham)
WHY CAF STRIPPED SENEGAL OF THEIR AFRICA CUP OF NATIONS TITLE
Following a final walk-off, Senegal has lost its AFCON trophy in the boardroom, prompting an appeal to CAS by the FSF.
Moussa Niakhate finally spoke out after the Confederation of African Football’s shocking decision to take Senegal’s Africa Cup of Nations trophy away. After that wild walk-off in the final against Morocco, CAF backed an appeal and handed the host nation a 3-0 win by default. Senegalese players were furious; who wouldn’t be?
The boardroom decision completely flipped African football on its head. Two months after the final, the CAF Appeal Board tossed out Senegal’s victory and gave Morocco the win. It all started deep into stoppage time when VAR gave Morocco a penalty. Pape Thiaw, Senegal’s manager, lost it and told his players to leave the field. Eventually, they came back and finished the match. Still, officials said the walk-off broke tournament rules, so they took the title away. Brutal.
Niakhate, the 30-year-old defender who was key in Senegal’s backline, got asked about it before Lyon’s Europa League match with Celta. He’d already posted a photo with his medal and the trophy right after the ruling. He made it clear: nothing a boardroom says can erase what happened on the pitch. He said, “Out of respect for the club and with the crucial match in mind, I don’t want to go into too much detail. You saw my reaction on social media; it’s the same today. What I can say is that nothing has changed for me compared to what we went through in January. I’ll have time to talk about it again in due course; for now, I’m going to stay focused on Lyon.”
That final in Rabat was pure chaos, even before Senegal won 1-0 on the field. Most players followed Thiaw down the tunnel, but Sadio Mane stayed, urging his teammates to come back. Brahim Diaz took the penalty but tried a Panenka, and Edouard Mendy caught it easily. The game went to extra time, Papa Gueye scored, and Senegal thought they were champions again. It didn't matter; the walk-off cost them everything. The committee called it a 3-0 forfeit.
It’s harsh for a team that believed they’d gone back-to-back. Niakhate, who started six out of seven games, is now focusing on Lyon’s European campaign. Still, that boardroom drama isn’t going away, not with the international break coming up. Senegal’s already planning to appeal to the Court of Arbitration for Sport.
