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Real Madrid The 'World's Richest Football Club' Again In Deloitte Football Money League

Deloitte’s annual report on European football revenues has been released, and it reveals that once again Spanish giants Real Madrid and Barcelona top the game’s money league.

The top six places for the latest report – based on season 2009-10 - remain unchanged from last year’s, with Manchester United, Bayern Munich, Arsenal and Chelsea maintaining the status quo.

Here is football’s Top 20 in full:

Real Madrid
Last year: 1st
Up 9.2%
 Revenue: €438.6m Last year €401.4m

Real top the money league for a sixth consecutive year, despite exiting the Champions League at the first knockout stage once again and trailing in behind Barcelona in La Liga. Able to negotiate their own individual broadcasting deal, they brought in £129.9m (€158.7m) which is more than the total revenue for half of these top 20 clubs. Matchday revenue increased by 27%, helped by the Bernabeu playing host to last season’s Champions League final.

Last year: 2nd
Up 4.6%
Revenue: €398.1m (€365.9m)

Spanish league champions for a second year running, but they lost ground off the field to fierce rivals Real – though they did move away from Manchester United in third place. A 9% growth in commercial revenue took them up to £100m (€122.2m) in that area alone, with matchdays worth £80.1m (€97.8m) and broadcasting deals a further £145.8m (€178.1m). Selling shirt sponsorship for the first time for a record £135m (€165m) over five and a half years should help bridge the gap to Real.

Manchester United
Last year: 3rd
Up 2.8%
Revenue €349.8m (€327m)

The Carling Cup was the only silverware on show at Old Trafford after season 2009-10, but the club continued to have steady growth financially. Broadcasting accounted for 37% of all revenue at £104.8m (€128m), a 5% rise from the previous season. Commercial revenue grew by 16% helped by deals with Turkish Airlines, Betfair and several telecommunications companies. Matchday revenue fell by 8% due to comparatively early exits from the Champions League and FA Cup.

Bayern Munich
Last year: 4th
Up 7.3%
Revenue €323m (€289.5m)

A German league and cup double and a run to the Champions League final ensured Bayern closed the gap on Manchester United in fourth in the money league. Revenue exceeded €300m for the first time, helped in no small part by a 20% hike in broadcast revenue thanks to their extended Champions League run. However, Bayern topped the commercial revenue league – amassing £141.6m (€172.9m) on that front alone.

Last year: 5th
Up 0.002%

Revenue €274.1m (€263m)

Arsenal best depict the difference in exchange rates of Sterling to Euros from last year to this. By Sterling, their revenue barely grew at all; by Euros, they managed a 4% overall growth. However, the sale of property at their former home of Highbury raised £157m (€192m) and is not included in this money league figure, which is restricted to football revenues. Matchday revenues fell due to fewer games at the Emirates in 2009-10, but still accounted for 42% of Arsenal’s overall total.

Last year: 6th
Up 1.5%

€255.9m (€242.3m) 

Double winners for the first time in the club’s history, and yet Chelsea’s matchday revenue fell by 10%, something that has never happened in Roman Abramovich’s time at the club. An early exit from the Champions League certainly hindered progress in that area, but commercial revenue (up 7%) and broadcasting revenue (up 9%) more than made up for that shortfall.

AC Milan
Last year: 10th
Up 15.4%

€235.8m (€196.5m)

Participating in the Champions League again after their absence in 2008-09 certainly helped Milan climb the money league. To put it in perspective, their run to the last 16 of the Champions League earned €23.4m in broadcast revenue – their participation in the Uefa Cup the previous year brought €400,000. Milan sit third overall in broadcasting revenue, thanks mainly to being able to negotiate their own domestic deal. But that will end when the next money league is announced, so expect a drop back down this table in 2012.

Last year: 7th
Dn 0.002%

€225.3m (€217m)

Attendances at Anfield fell by 2% in 2009-10, and yet matchday revenue was slightly up on the previous year. Broadcasting revenue was up by 7%, aided by reaching the last four of the Europa League, and accounted for 42% of their overall revenue total. Just as they have done on the field, Manchester City and Tottenham could overtake Liverpool in the money league next year.

Last year: 9th
Up 10%

€224.8m (€196.5m)

Success unlike no other they’ve ever tasted on the field, and yet Inter remain resolutely ninth in the money league. Matchday revenue increased by an incredible 37%, but is still only the 12th highest of any club. Like Milan, their broadcasting revenue dominates at 62% of the final figure, and the £112.9m that brought in is third behind only Real Madrid and Barcelona.

Last year: 8th
Dn 3.1%

€205m (€203.2m)

A drop of two places from last year, and the Old Lady is no longer the top revenue-earning club in Italy. Matchdays account for just 8% of total revenues, and it can only be hoped that the opening of their new stadium next season boosts that element. With a shared broadcasting deal coming into effect, and this season’s absence from the Champions League, expect Juventus to fall out of the top 10 next year.

Manchester City
Last year: 20th
Up 43.8%
€152.8m (€102.2m)

The biggest climbers in the list and with a whopping 43.8% overall increase on their 2008-09 figures, City are becoming major players thanks to growth in all areas. Commercial revenue more than doubled to £46.7m (€57m) while matchdays grew by 17%. The interest in Shiekh Mansour's revolution has also contributed to a boost in broadcast revenue, with more City games being shown live on television meaning an extra £5.8m coming into to the club. To continue their rapid rise, though, they will need tangible success on the field.

Last year: 15th
Dn 3.1%
€146.3m (€132.7m)

They may have edged out Manchester City for a Champions League spot, but the full effects of that will not be felt until next year's money league is announced. Broadcast revenue rose to £51.5m thanks to finishing fourth and thereby earning more of the Premier League's redistributed prize fund, but matchday revenue remains constrained by White Hart Lane's limited capacity - an issue that the Spurs board are courting controversy with as they attempt to find a new home.

Last year: 11th
Dn 4.2%

€146.2m (€146.7m)

The North German club remain the second highest paid Bundesliga club, but the rise of Tottenham and Manchester City sees them drop two places. The club reached the semi-finals of the Europa League, where they lost out to Fulham, but could only finish seventh in the Bundesliga. A lack of participation in Europe this season means that Hamburg could struggle to retain their money league position.

Last year: 13th
Up 0.1%

€146.1m (€139.6m)

The seven-time Ligue 1 winners reached the semi-finals of the Champions League for the first time last season which contributed to an 11% increase in matchday revenue to £20.3m (€24.8m). However, matchday cash accounted for just 17% of the club’s income and Lyon's average league attendance of 35,767 is amongst the lowest of all the money league clubs.

Last year: 14th
Up 1.8%

€141.1m (€133.2m)

The Cote d'Azur club may have dropped one place but it has narrowed the gap with French rivals Olympique Lyonnais. Winning their first league title since 1992 secured a place in the Champions League where they have progressed to the knock-out stages. Broadcasting revenues account for 50% of the club’s total revenues -  £58m(€70.8m). The growth on the season before came from an increase in cash from the Champions League and Europa League.

Schalke 04
Last year: 16th
Up 8%

€139.8m (€124.5m)

With an average league attendance of 61,800 in the Veltins Arena and more than 90,000 members, Schalke enjoy a formidable following in Germany. Commercial revenue accounts for more than half of Schalke's turnover thanks to lucrative deals with sports rights agency Infront Germany, Gazprom, the club’s main sponsor, and adidas, the club’s kit sponsor, helping the club net an extraordinary £64.7m (€79m) of commercial revenue. Qualifying for the knockout stage of this season's Champions League should see them rise further next year.

Atletico Madrid
Last year: 18th
Up 14%
€124.5m (€105.0m)

Atletico Madrid won their first major trophy for 14 years when they beat Fulham in the Europa League final last May. Their performances in European competition also led to a significant windfall of £50.9m (€62.2m) in broadcasting revenue - accounting for 50% of their total incomings. However Atletico’s ninth place finish in La Liga in 2009-10 was not enough to seal Champions League qualification whilst their defence of the Europa League fizzled out with a group stage exit, meaning it's unlikely they will remain in the top 20 next year.

AS Roma
Last year: 12th
Dn 19.4%
€122.7m (€146.4m)

AS Roma are the biggest fallers from this year's money league, falling six places to 18th. This was largely down to their failure to qualify for the Champions League for the first time in four years. AS Roma pocketed the second lowest matchday revenue - just £15.6m (€19 m) - of any money league club (they narrowly beat Juventus).  However they finished second in Serie A last season and their return to the Europe's top table in the Champions League should see the Giallorossi head in the other direction next year.

VfB Stuttgart
Last year: n/a
Up 10.6%

€114.8m (€99.8 m)

After finishing third in the 2008-09 season, VfB Stuttgart qualified for the Champions League before eventually going out to Barcelona in the last 16 last year. The run in the competition however helped them net record revenues. What differentiates VfB from other Bundesliga clubs in the money league is that its largest revenue source came from broadcasting (42%) as opposed to commercial income. Once renovation of their Mercedes-Benz Arena is complete, the Germans hope an increased capacity of 60,000 from 56,000 will boost growth.

Aston Villa
Last year: n/a
Up 6.3%

€109.4 m (€99.0 m)

Aston Villa return to the money league for the first time since 2003-04, replacing Newcastle who spent last season in the Championship. Their return to the top 20 was thanks in part to Wembley appearances in both domestic cup competitions. The club also finished in sixth place for a third successive season, which gave a healthy broadcast revenue of £52.1m (€63.6m) - 58% of their overall revenue. The club also opted to promote Acorns, a local children’s hospice, on its shirt rather than a fee-paying brand and so their commercial revenue of £13.1m (€16m) was comparatively low.