Real Madrid remain the top earner in world football but Liverpool leap in ranking, while Manchester United slide.

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Liverpool have overtaken Manchester United for the first time as the Premier League’s biggest-financial earners, but Real Madrid remained top performers in world football during the 2024-25 season, according to an annual financial list.

The Spanish club topped Deloitte’s Football Money League, published on Thursday, with ⁠1.16 billion euros ($1.36bn) of revenue despite not winning either La Liga or the Champions League. The only club to make more ​than $1bn in the past two seasons, Real Madrid benefitted in 2024-25 from a whopping 23 percent rise ‍in commercial revenue – driven by merchandise and corporate partners – to 594 million euros ($696.6m), the Deloitte figures showed.