Liverpool have become the English club with the highest revenue for the 2023-24 season, according to the annual Deloitte Football Money League. The club rose from eighth to fifth place overall, with total revenues of €836m (£718m), but for the first time in the report's 29-year history, no Premier League side made the top four.
Real Madrid retained the top spot with €1.16bn (£1bn), followed by Barcelona (€974m), Bayern Munich (€860m) and Paris Saint-Germain (€837m). Liverpool's climb was driven by on-pitch success, Champions League income, and a 7% increase in commercial revenues, boosted by concerts at Anfield featuring Taylor Swift, Dua Lipa and Bruce Springsteen.
Marco D'Elia, assistant director in the Deloitte Sport Business Group, said: 'Liverpool's strong performance was driven by on-pitch performance, Champions League revenues and a 7% increase in their commercial revenues. That is driven by more focus on non-matchday events at Anfield, including concerts by Taylor Swift and corporate events.'
Manchester City dropped from second to sixth with €829m, while Manchester United fell from fifth to eighth with €793m, partly due to a drop in broadcast revenue from €258m to €206m and absence from the Champions League. Arsenal, Tottenham and Chelsea remained seventh, ninth and tenth respectively.
Tim Bridge, lead partner in the Deloitte Sports Business Group, noted a shift in club business models: 'There is a pivotal shift in some club business models with an increased focus on maximising the impact of their brand and their stadium assets. The presence of on-site breweries, hotels and restaurants is now commonplace and illustrates a strategic move to diversify income and create year-round entertainment destinations.'
