• Real Madrid remains football's highest-earning club with €1.16 billion in revenue.
• Liverpool surpasses Manchester United to become the biggest earners in the Premier League.
• Manchester United drops to eighth in the global rankings, its lowest position ever.
• Total revenue for the top 20 clubs reaches a record €12.4 billion.
• Rising Saudi Pro League clubs may challenge traditional European football dominance.

Real Madrid has once again secured its position as the biggest-earning club in world football, generating €1.16 billion ($1.36 billion) in the 2024-25 season, according to Deloitte's annual Football Money League published recently. Despite not clinching either La Liga or the Champions League, the Spanish club enjoyed a remarkable 23% rise in commercial revenue, largely due to merchandise sales and corporate partnerships, which totaled €594 million. This makes Real Madrid the only club to surpass $1 billion in revenue over the last two seasons, according to Reuters, Al Jazeera, and South China Morning Post.

Liverpool stands out in this year's financial rankings by overtaking Manchester United, marking the first time they have topped the Premier League's earnings. The club recorded €836 million in revenue during the season they won the Premier League, which is now recognized as the strongest performance from any English club in the 29-year history of Deloitte’s rankings. Meanwhile, Manchester City finished sixth with €829 million, closely followed by Arsenal at €822 million. Such financial dynamics illustrate a significant shift in the Premier League, as indicated by Reuters and Al Jazeera.

Manchester United's financial standings have significantly declined, landing them in eighth place with revenues of €793 million, marking their lowest-ever position in the Money League, which they have previously topped 10 times. Given their absence from European competitions this season due to underperformance, their financial outlook is seen as bleak. Tim Bridge from Deloitte noted, "their ability to generate commercial revenue was the benchmark for the market. I don’t think that remains the case," highlighting a marked decline in their financial dominance, as stated by South China Morning Post and Al Jazeera.

The overall revenue for the top 20 clubs has surged to a record €12.4 billion, representing an 11% increase year-on-year. Notably, commercial income reached €5.3 billion, bolstered by improved retail operations and expanded stadium usage. The fastest growth was seen in matchday revenue, which rose 16% to €2.4 billion, facilitated by increased sponsorship and media rights revenues. Furthermore, rising clubs in the Saudi Pro League and Inter Miami from MLS could potentially disrupt the traditional financial landscape of European football, according to Reuters, Al Jazeera, and South China Morning Post.