The 29th edition of theDeloitte Football Money Leaguehas beenreleasedand there is plenty of food for thought from a financial perspective as clubs move into 2026.

With broadcast, commercial and matchday revenues taken into account, clubs generated a record €12.4 billion in 2025, with a growth of 11 per cent across the board.

Here,GOALbreaks down the top 20, including the revenue detail and change on the previous year.

Real Madridlead the 2026 Deloitte Football Money League with a revenue of €1,161 million generated in 2025 - an increase of 11 per cent on their 2024 figure. Los Blancos are closely followed by their Clasico rivalsBarcelona, who occupy second place with revenues of €974.8 million.

Following Real and Barca in third place are German giantsBayern Munich, who earned €860.6 million in revenue in 2025.Paris Saint-Germainare in fourth spot, with Liverpool completing the top five.

There has been considerable change from the2025 list, withManchester Citydropping from second place to sixth, whileManchester Unitedhave dropped from fourth to eighth, meaning they sit belowLiverpoolandArsenalfor the first time in the history of the list.

While Premier League clubs can now mostly be found outside the top five, they still dominate the top 20, accounting for nearly half the clubs on the list. As well as Liverpool, Manchester City, Manchester United and Arsenal, the other English representatives are Chelsea, Tottenham, Aston Villa, Newcastle and West Ham.

Atletico Madrid are the other Spanish representatives outside of the Clasico duo, while Borussia Dortmund and Stuttgart are Germany's other representatives alongside Bayern. Italy is represented by Inter, AC Milan and Juventus, while the remaining two teams come from France (PSG) and Portugal (Benfica).