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Deloitte Football Money League Summary (January 2019)

Core Content

The Deloitte Football Money League is an annual report that ranks the world's highest-earning football clubs based on revenue from matchday, broadcast, and commercial sources. The 2019 edition highlights the financial landscape of European football, focusing on revenue growth, competition performance, and the evolving dynamics among clubs.

Main Points and Key Information

Top Clubs in the Money League

• Real Madrid regained the top spot for the 12th time in the league's history, generating €750.9m in revenue in the 2017/18 season.
• FC Barcelona finished second, marking the first Spanish one-two since 2014/15, with revenue of €690.4m.
• Manchester United dropped to third, despite a 2% revenue increase to £590m.
• The top three clubs collectively generated over €2.1 billion, just 5% short of the combined revenue of the top 20 clubs in 1999/00.

Revenue Growth and Trends

• Broadcast revenue remains the largest source of income for Money League clubs, accounting for 43% of total revenue.
• Commercial revenue is growing significantly, especially for clubs in the "big five" leagues (England, France, Italy, Spain, Germany), due to increased sponsorship deals and merchandising.
• Tottenham Hotspur entered the top ten for the second time in Money League history, replacing Juventus, with revenue of €428.3m (up 6% from the previous year).
• Liverpool experienced the largest revenue increase in the top ten, £90.6m, and climbed to 7th place, thanks to their run to the Champions League Final and strong broadcast revenue of €222.6m.

European Leagues and Financial Polarisation

• The "big five" leagues (England, France, Italy, Spain, Germany) continue to dominate the top 20, with only three clubs from other leagues (FC Zenit, Beşiktaş, S.L. Benfica) appearing in the top 30.
• UEFA club competitions (Champions League and Europa League) play a crucial role in revenue generation and position stability. Clubs that qualify for these competitions see significant financial benefits.
• UEFA introduced changes to the qualification and distribution model, which may help reduce financial polarisation by giving more opportunities to clubs from smaller leagues.

Club Performance and Challenges

• Arsenal dropped three places to 9th, experiencing the largest revenue decrease of £29.9m in the top 20, mainly due to their failure to qualify for the Champions League.
• AC Milan and AS Roma returned to the top 20 after a year's absence, showing strong growth in revenue.
• Bayern Munich remained in the top five, with a 7% revenue increase to €629.2m, driven by Champions League success and Bundesliga distributions.
• Borussia Dortmund fell to 12th place with a 5% revenue drop, due to exiting the Champions League Group Stages.

New Entrants and Promotions

• Brighton & Hove Albion and FC Porto (not listed in the top 20 but mentioned in context) made notable entries into the top 30.
• Brighton achieved €157.4m in revenue, a massive increase from £1.1m in 1996/97, following their promotion to the Premier League in 2017.
• FC Zenit St Petersburg, Beşiktaş, and S.L. Benfica are the only non-"big five" clubs in the top 30, with Zenit's revenue at €394.9m and Beşiktaş at €541.7m.

Key Observations

• Financial success is closely tied to on-pitch performance, particularly in European competitions.
• Commercial growth is becoming a more significant factor in revenue, especially for clubs in the "big five" leagues.
• Broadcast rights are a key driver of revenue, though their growth has slowed in recent years.
• UEFA's changes to the qualification and distribution model may help level the playing field for clubs from smaller leagues.
• The Premier League is expected to see limited broadcast revenue increases in the next cycle, putting pressure on English clubs to grow through other revenue streams.

Conclusion

The 2019 Deloitte Football Money League reinforces the dominance of European "big five" leagues, with Real Madrid and Barcelona leading the charge. While clubs like Tottenham and Liverpool show potential for growth, the financial landscape remains highly competitive and polarised. The report also highlights the increasing importance of commercial strategies and UEFA competition success in shaping a club's financial standing.