The Reds, who won the English top-flight title last season, generated €836 million (£702m) in revenue, surpassing all other English clubs in the 29th edition of the Deloitte Football Money League.
In contrast, Manchester United dropped to their lowest position ever in the rankings after a difficult campaign on and off the pitch.
United, who finished 15th in the Premier League and lost the Europa League final to Tottenham, slipped from fourth to eighth place, recording €793m (£666m) in revenue.
Notably, the club’s matchday income is expected to decline further this season, having failed to qualify for European competitions and exiting both domestic cups early.
Real Madrid Lead Globally Despite Trophy Misses
At the top of the global rankings, Real Madrid once again led the Money League, posting a staggering €1.2bn (£1.01bn) in revenue, despite not winning either La Liga or the Champions League last season.
Barcelona climbed back into the top three for the first time since 2019–20, generating €975m (£819m), even while playing away from the Camp Nou during renovations.
Bayern Munich ranked third with €861m (£723m), followed by Paris Saint-Germain on €837m (£703m) and Liverpool completing the global top five.
Manchester City Drop, Arsenal and Chelsea Remain Top 10
. Manchester City fell from second to sixth with €829m (£697m)
. Arsenal placed seventh on €822m (£690m)
. Tottenham Hotspur ranked ninth with €673m (£565m)
. Chelsea completed the top 10 on €584m (£491m)
England had six clubs in the global top 10, underlining the Premier League’s financial strength.
Other English Clubs in the Top 20
Three more English sides also featured in the top 20:
. Aston Villa – 14th (€450m)
. Newcastle United – 17th (€400m)
. West Ham United – 20th (€276m)
Overall, the top 20 clubs recorded combined revenue of €12.4bn (£10.4bn), an 11% increase year-on-year.
. Commercial revenue rose to €5.3bn, driven by sponsorship growth, retail expansion, and non-matchday stadium usage
. Matchday income grew fastest, increasing 16% to €2.4bn
. Broadcast revenue rose by 10%, helped by the expanded FIFA Club World Cup
Deloitte Warns on Player Welfare
Deloitte Sports Business Group partner Tim Bridge noted that clubs are taking greater control of revenue streams but warned of growing fixture congestion.
“While financial opportunities are expanding, a balance must be struck between revenue growth and player welfare,” Bridge said.
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