Real Madrid surpasses Man City in revenue.

Despite winning a historic treble with the Premier League, FA Cup, and Champions League, Man City dropped to second place in the Deloitte Football Money League of clubs with the highest revenue in the 2022-2023 season.

The Money League is a ranking of the world's top football clubs by revenue each season, compiled by the auditing firm Deloitte since 1998. The Money League considers revenue figures published in the clubs' annual financial reports for the 2022-2023 season and excludes operating expenses.

Despite winning a historic treble, Man City only ranked second in the Money League with revenue of $921 million. Previously, the Manchester team had led the Money League twice in a row, with revenue of $790 million in the 2021-2022 season and $696 million in the 2020-2021 season.

Real Madrid midfielder Luka Modric and Manchester City striker Jack Grealish during the second leg of the Champions League semi-final at the Etihad Stadium in Manchester on May 17, 2023. Photo: Reuters — Real Madrid midfielder Luka Modric and Manchester City striker Jack Grealish during the second leg of the Champions League semi-final at the Etihad Stadium in Manchester on May 17, 2023. Photo: *Reuters*

Real Madrid leads with revenue of $920 million, despite an unsuccessful 2022-2023 season. They finished second in La Liga, lost to Barcelona in the Spanish Super Cup final, lost to Manchester City in the Champions League semi-finals, and only won one title, the Copa del Rey, after beating Osasuna 2-1 in the final.

Liverpool suffered the biggest drop in the top 20, falling from third to seventh. However, the Merseyside club didn't suffer significant financial losses, with revenue only slightly decreasing from $755 million to $754 million. According to Deloitte, Liverpool's revenue decline was due to performance issues, as they finished fifth in the Premier League and were eliminated in the Champions League round of 16.

PSG entered the top 3 for the first time with revenue of $886 million, while Barca rose three places to fourth with revenue of $883 million. The remaining clubs in the top 10 are Man Utd ($823 million), Bayern ($822), Tottenham ($698), Chelsea ($650) and Arsenal ($588).

Tim Bridge, a principal partner in Deloitte's Sports Business Group, said Real and Barca are taking steps toward greater control, particularly in transfer matters, in order to upgrade their stadiums. Therefore, the aforementioned revenue figures are a direct result of the changes they have made to their business models.

"There have always been 10 or 11 Premier League clubs in the Money League, and the growth in media rights has given them a significant share of the revenue. But other leagues have caught up and have a bit more stability in terms of rights than the Premier League," Bridge added.

Deloitte added that the top 20 clubs earned $11.5 billion, a 14% increase from the previous season. The Deloitte Football Money League also released the revenue figures for women's teams, with Barcelona having the highest earnings in the world, increasing by 74% to $15 million.

Hong Duy

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