Richest Football Clubs 2025: Valuation And Revenue Rankings

Discover the richest football clubs in 2025 with two clean lists you can trust. We rank teams by valuation using Forbes 2025 team values and by revenue using the Deloitte Football Money League 2025 for FY 2023/24. Figures are standardized to USD, metric types are labelled, and every claim is sourced for fast extraction and people‑first reading.

• By valuation: the richest football club in 2025 is Real Madrid at about 6.75 billion USD, measured as enterprise value as of May 2025 (Forbes).
• By revenue: the top club in the latest fiscal year is Real Madrid with about 1.092 billion USD for FY 2023/24 (Deloitte).

At a Glance

• Valuation leader: Real Madrid at 6.75 billion USD, enterprise value, May 2025 (Forbes).
• Revenue leader: Real Madrid at 1.092 billion USD, FY 2023/24, operating revenue basis (Deloitte).
• Average valuation of top 10: 4.94 billion USD.
• Average revenue of top 10: 0.791 billion USD; median: 0.797 billion USD.
• League representation among top 10: Premier League 6, LaLiga 2, Bundesliga 1, Ligue 1 1 in both lists (Forbes) (Deloitte).
• Timeframes and currency: Valuations as of May 2025; revenues for FY 2023/24. All figures shown in USD.
• Scope notes: Valuation is enterprise value unless noted. Revenue follows Deloitte’s operating definition of matchday, broadcasting and commercial, excluding player trading unless the source states otherwise (Deloitte).

Methodology (Summary)

• Valuation metric: We use Forbes 2025 team values as enterprise value (EV), which is equity plus net debt. KPMG’s Football Benchmark 2025 also reports EV; it is cited for context, but Forbes is the system used in the table for consistency and global comparability (Forbes) (KPMG).
• Revenue metric: We use Deloitte Football Money League 2025 operating revenue for FY 2023/24. It includes matchday, broadcasting and commercial, and excludes player trading and taxes. Where a club’s audited report is newer, we mention it and label it “club filing,” but Deloitte remains the primary comparator (Deloitte).
• Conflicts and one‑number rule: If figures differ across credible sources, we select one number per club that matches the chosen framework and timeframe, explain the choice here, and keep all figures in USD for the tables.
• FX policy: Deloitte publishes in EUR. We convert to USD using the ECB euro reference rate on the last working day before publication. For January 22, 2025, 1 EUR = 1.0443 USD. Forbes valuations are already in USD (ECB) (Deloitte) (Forbes).
• Timing: Valuations are as of May 2025. Revenues are FY 2023/24. UEFA distributions are noted as context unless included in the source revenue base (UEFA) (Deloitte).
• Not included: Speculative blog estimates, mixed GMV figures, numbers that include transfer income without clarity, and multi‑sport parent valuations at group level.
• Assumptions: Minor rounding differences may appear after FX conversion. League names and fiscal year ends follow each source’s convention.

The Most Valuable Football Clubs In 2025 (By Valuation)

Valuation reflects the market’s view of long‑term cash generation, asset quality and risk. Stadium ownership and redevelopment, global media markets, sponsorship portfolios and balance‑sheet strength are key drivers. Forbes 2025 reports that football club values rose again, led by European brands with global commercial scale. KPMG’s 2025 benchmark confirms a structural rise in enterprise values over the past decade, supported by revenue growth and higher transaction multiples (KPMG).

Real Madrid

Real Madrid tops the valuation table at $6.75B in May 2025, the fourth straight year at number one. The club combines a global media footprint with a renovated Bernabéu that has unlocked new matchday and non‑matchday cash flows. Winning the 2023/24 Champions League and LaLiga reinforced brand equity and pricing power in sponsorship and hospitality (Forbes) (Deloitte).

On operations, Madrid became the first football club to surpass €1B in season revenue in 2023/24, with matchday around €248M and commercial near €482M, helped by venue upgrades, premium seating and new inventory. These drivers support both current revenue and future value through multiple expansion on higher, more resilient cash flows (Deloitte).

Dive Deeper Into Real Madrid's Net Worth in 2025

Manchester United

Manchester United ranks second at $6.6B. Despite on‑pitch volatility, United’s worldwide fanbase and sponsor roster underpin resilient commercial income and high global media relevance, which are critical inputs to valuation. Stadium redevelopment planning is a long‑term lever for matchday and premium seat yield (Forbes).

United’s 2023/24 revenue places it in the global top five, but growth has lagged immediate peers in recent seasons, increasing pressure to convert brand scale into fresh commercial deals and improved sporting performance. This tension between brand power and recent results is a key dynamic that valuation bakes in through expectations for future cash flows (Deloitte) (FT).

Dive Deeper Into Manchester United Net Worth in 2025

FC Barcelona

Barcelona is third at $5.65B. The temporary move to the Estadi Olímpic during Camp Nou redevelopment reduced matchday capacity and weighed on 2023/24 revenue, but the stadium project aims to materially boost medium‑term matchday and commercial economics. Global sponsorship and massive digital reach remain core valuation inputs (Forbes) (Deloitte).

Once Spotify Camp Nou reopens with expanded premium inventory, management expects matchday and event revenue to re‑accelerate. Valuation reflects both current revenue scale and an option on higher venue‑driven cash flows as construction milestones are met (Deloitte).

Dive Deeper Into Barcelona Net Worth In 2025

Liverpool

Liverpool is fourth at $5.4B. The enlarged Anfield Road Stand and consistently strong global demand support robust matchday and commercial monetization. Liverpool’s data‑led sporting model and frequent European participation keep broadcast and prize money competitive, which helps stabilize cash generation through cycles (Forbes) (Deloitte).

Deloitte notes matchday tailwinds across clubs investing in venues and hospitality. Liverpool exemplifies this trend, with larger attendances and enhanced non‑matchday events contributing to a diversified revenue mix that feeds into valuation multiples (Deloitte).

Manchester City

Manchester City ranks fifth at $5.3B. Sustained domestic success, regular deep Champions League runs and a broad sponsorship portfolio drive commercial scale. City remains the highest‑revenue generating English club in 2023/24, illustrating strong operating momentum to support value (Forbes) (Deloitte).

Stadium enhancements and mixed‑use development are aimed at deepening matchday and non‑matchday cash flows. With domestic and international media rights entering stable cycles, City’s upside continues to be driven largely by commercial innovation and venue economics (Deloitte).

The Top Football Clubs By Revenue (Latest Fiscal Year)

Deloitte’s Football Money League 2025 reports operating revenue for FY 2023/24, covering matchday, broadcasting and commercial, and excluding player trading and VAT. The 2023/24 season set a new benchmark as Real Madrid exceeded €1B in revenue, and the top 20 clubs reached €11.2B combined. Broadcast income was stable across leagues, while matchday was the fastest‑growing stream, driven by venue projects and premiumisation (Deloitte).

Real Madrid

Real Madrid leads global revenue at €1,045.5M in 2023/24, the first club to surpass the billion‑euro mark. Matchday roughly €248M more than doubled year over year as the Bernabéu’s premium seating, increased capacity and new event inventory came online. Commercial rose to about €482M on stronger retail and new sponsorship, while broadcasting remained solid following another Champions League title (Deloitte).

Madrid’s scale and the stadium’s year‑round monetization model underpin both present revenue and future value. Deloitte attributes much of the uplift to venue transformation and higher‑margin hospitality, a theme seen across the top 10 as clubs lean into live‑experience economics (Deloitte).

Dive Deeper Into Real Madrid's Net Worth in 2025

Manchester City

Manchester City ranks second at €837.8M and remains the highest‑earning English club. City’s commercial engine, consistent UEFA participation and domestic silverware support a diversified mix. Deloitte highlights that broadcast income across leagues was broadly flat in 2023/24, which placed more emphasis on commercial innovation and venue activity for growth (Deloitte).

With stadium improvements underway and continued global brand activation, City’s operating model is positioned to convert sporting success into recurring cash flows. This alignment is key to sustaining top‑tier revenue and supporting valuation (Deloitte).

Paris Saint‑Germain

PSG is third with €805.9M. The club’s commercial roster and event day monetization remain among Europe’s largest. Revenue growth has been achieved despite cost pressures and squad transition, reflecting the strength of the Paris market and long‑term partners (Deloitte).

As UEFA competition formats expand from 2024/25, clubs like PSG with consistent European participation can lift broadcasting and prize money. Deloitte anticipates stable domestic rights but incremental upside from revamped UEFA competitions and increased match counts (Deloitte) (UEFA).

Manchester United

United posts €770.6M in 2023/24 revenue. Despite a challenging on‑pitch season, the scale of the sponsor base and global demand keeps United within the top five. Deloitte’s analysis shows that for top 10 clubs, commercial is the dominant income stream, highlighting how brand strength can offset short‑term sporting dips (Deloitte).

Financial media note United’s commercial growth has been slower than some peers, sharpening focus on stadium upgrades and refreshed partnerships to re‑accelerate revenue (FT). The Money League framework maintains comparability by excluding player trading, which can otherwise distort year‑to‑year analysis (Deloitte).

Dive Deeper Into Manchester United Net Worth in 2025

Bayern Munich

Bayern ranks fifth at €765.4M, anchored by robust commercial income and consistently high matchday yields. The club’s long‑standing partner ecosystem and efficient cost base have historically produced stable operating performance through cycles (Deloitte).

With Germany hosting Euro 2024 and Allianz Arena’s strong event calendar, Bayern benefited from elevated demand for live experiences. Broadcast income across Europe was steady in 2023/24, so matchday and commercial execution remained the key differentiators in the top half of the ranking (Deloitte).

Dive Deeper Into Real Madrid's Net Worth in 2025

Why Valuation And Revenue Diverge

Valuation is a forward‑looking measure influenced by stadium ownership and redevelopment, media rights cycles, global commercial portfolios and balance‑sheet health. Revenue is a backward‑looking measure of operational performance in a given season. A club with high valuation may rank lower on revenue in a particular year if it is between stadium phases or if broadcasting distributions are flat, yet investors still expect future cash flows to improve. Conversely, a one‑off revenue peak without durable assets may not translate into a higher multiple. This is why the richest football clubs by valuation are not always identical to the top by revenue in a given season (Forbes) (KPMG) (Deloitte).

Close contenders

• Borussia Dortmund fell just outside the top 10 by revenue at about €513.7M in 2023/24 per Deloitte (Deloitte).
• Atlético de Madrid generated about €409.5M in 2023/24 revenue, ranking 12th in the Money League, and stands 13th by valuation in 2025 at about $1.7B (Deloitte) (Forbes).
• Inter and AC Milan sit just outside the top 10 by both lists, with 2025 valuations around $1.15B and $1.5B respectively and Money League revenues in the €390M–433M range for 2023/24 (Forbes) (Deloitte).

FAQ

Which club is richest by valuation in 2025?

‍Real Madrid at about $6.75B enterprise value as of May 2025 (Forbes).

Which club generated the most revenue in the latest season?

‍Real Madrid with about €1,045.5M in FY 2023/24, equivalent to about $1.092B using the ECB reference rate on 22 January 2025 (Deloitte) (ECB).

Why do valuation and revenue rankings differ?

‍Valuation reflects expected future cash flows and asset quality, while revenue is a single‑season operational outcome. Stadium projects, commercial scale and media cycles drive differences (Forbes) (KPMG) (Deloitte).

Does Deloitte include transfer income in revenue?

‍No. Deloitte’s Money League excludes player trading and taxes from revenue to maintain comparability across clubs and seasons (Deloitte).

How do exchange rates affect these rankings?

‍Revenues reported in EUR were converted to USD using the ECB reference rate on 22 January 2025 at 1 EUR = 1.0443 USD, which can slightly shift USD rankings vs EUR rankings (ECB).

More Reading From Brand Vision Insights

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• Biggest stadiums in the world

Sources

• Deloitte Football Money League 2025. Deloitte. January 23, 2025. Deloitte
• Real Madrid press release on Deloitte 2025 Money League. Real Madrid. January 23, 2025. Real Madrid CF | Web Oficial
• The World’s Most Valuable Soccer Teams 2025. Forbes. May 30, 2025. Forbes
• Real Madrid team page. Forbes. 2025. Forbes
• Manchester United team page. Forbes. 2025. Forbes
• FC Barcelona team page. Forbes. 2025. Forbes
• Liverpool team page. Forbes. 2025. Forbes
• Manchester City team page. Forbes. 2025. Forbes
• Bayern Munich team page. Forbes. 2025. Forbes
• Paris Saint‑Germain team page. Forbes. 2025. Forbes
• Arsenal team page. Forbes. 2025. Forbes
• Tottenham Hotspur team page. Forbes. 2025. Forbes
• Chelsea team page. Forbes. 2025. Forbes
• Football Clubs’ Valuation: The European Elite 2025. KPMG Football Benchmark. May 28, 2025.  Football Benchmark
• The European Elite 2025 report PDF. KPMG Football Benchmark. May 28, 2025.  Football Benchmark
• Euro foreign exchange reference rates as of 22 Jan 2025. Banca d’Italia republishing ECB data. January 22, 2025. Bank of Italy
• Euro foreign exchange reference rates, methodology. European Central Bank. Accessed August 2025.  European Central Bank
• UEFA Circular No. 13/2024: Revenue distribution for 2024–27 competitions. UEFA. March 22, 2024.  UEFA.com
• Financial Times coverage of Manchester United commercial trends. Financial Times. August 2025.  Financial Times
• Reuters summary of Forbes 2025 valuations. May 31, 2025. Reuters