Revenue of Europe’s 5 biggest leagues breaks 40 billion euros, but Deloitte warns growth will slow
July 8 – European football revenue increased by €40 billion for the first time in the 2024/25 season, growing by 6% to €40.2 billion, up from €38 billion in 2023/24.
More than half of the revenue accounted for by Europe’s five biggest leagues totaled 21.6 billion euros in 2024/25, a 6% increase on 20.4 billion euros in 2023/24.
The income numbers are the subject obtained from 35th Deloitte’s Annual Review of Football Finance, however, has come with a health warning from Deloitte which reveals that club revenue growth across Europe’s five major leagues will slow in the coming seasons, “with some leagues plateauing or declining in 2025/26 and 2026/27.”
Tim Bridge, lead partner in the Deloitte Sports Business Group, said: “The expansion of UEFA and FIFA competitions has brought financial benefits to all of Europe’s big five leagues, but football cannot rely on adding more content to deliver sustainable growth.
“An increasingly saturated market may not be good for players or fans, especially if it weakens the spectacle on the field. This approach, without a collective thought from all rights holders, risks prioritizing short-term profit over long-term prosperity,” continued Bridge.
English Premier League clubs also reigned supreme, generating £6.8 billion, more than 35% of LaLiga’s reported €4.1 billion.
This growth has been fueled by the performances of English clubs in UEFA’s expanded competitions. Deloitte reckons the Premier League’s turnover will be more than £7 billion by 2025/26, with the start of an enhanced round of broadcasting rights, with three clubs reaching European finals.
Broadcast revenue is the largest revenue line and saw a slight year-on-year increase of 2% to £3.4 billion.
Commercial revenue grew by 13% to £2.4bn in the 2024/25 season with the league’s traditional ‘big six’ clubs (Man Utd, Man City, Arsenal, Liverpool, Chelsea and Spurs), accounting for 73%.
The combined matchday revenue of Premier League clubs increased by £133 million (15%) to reach £1 billion for the first time, boosted by an increase in the number of clubs reaching the latter stages of European competitions.
Transfer spending combined with fewer sales saw pre-tax losses for Premier League clubs rise from £135 million in 2023/24 to £948 million in 2024/25. At the end of the 2024/25 season, the debts of Premier League clubs were £3.6 billion.
In LaLiga Real Madrid (1.2 billion euros) and FC Barcelona (975 million) accounted for about 52% of the clubs’ total revenue.
Bundesliga clubs saw their gross revenue grow by 12% to pass four billion euros for the first time, driven by improved commercial and broadcasting revenues.
The total revenue of Serie A clubs increased by 4% to €3 billion, with Juventus, Inter Milano and AC Milan accounting for 45% of all revenue.
In contrast, the total revenue of Ligue 1 clubs fell by 15% to €2.2 billion as trading revenue fell by €400 million.
Overall, Deloitte finds that Europe’s top five ‘big five’ leagues saw pre-tax losses increase by €0.8 billion to €1.5 billion in the 2024/25 season.
“European football has made a name for itself in the world, but as American sports look to move to the European market, and competition from other entertainment businesses is intensifying, there is no doubt that there are challenges ahead,” said Bridge.
“Now is the time for leaders to focus on differentiating business models, while collaborating with others on a shared plan for the future. Strong leadership and innovation, underpinned by principles that align with purpose are essential.”
EFL Championship revenue is falling
Excluding the Big 5 leagues the analysis finds English Championship clubs recorded a total revenue of £942 million in 2024/25, down 2% on last season, and the first season-on-season drop since the COVID pandemic.
Trading revenue fell 10% to £273 million.
Pre-tax losses for Championship clubs rose by 12% to £355 million, with only three clubs reporting a pre-tax profit. Aggregate wage costs increased slightly to a record £903 million in 2024/25.
“The growing financial situation and worsening club losses in all three divisions of the English Football League underline a continuing trend; where external funding is now essential to cut costs in many cases,” warns Bridge.
“Upcoming regulatory changes may support future development, but now the focus must be on strong trade and sustainable growth, or a program to close the gap in the Premier League to unlock more value in football at all levels.”
The growth of the Women’s Super League is accelerating
Deloitte finds that the combined revenue of Women’s Super League (WSL) clubs has grown by 39% to £90 million, with all 12 clubs reporting revenues in excess of £1 million by 2024/25.
Trading income increased by £15 million to £41 million. Matchday revenue grew to £14 million, while broadcast revenue increased by 11% to £11 million.
The average income of WSL clubs rose to £7.5 million, with the top four clubs making up 71% of the total.
Jennifer Haskel, Deloitte Sports Business Group head of knowledge and insights, said: “As investment continues across the WSL, expectations are high for clubs to grow their businesses, transform operating models, and at the same time engage fans and partners.
“Revenue, visibility and commercial performance continue to grow, but the challenge remains to translate that momentum across the tower into a consistent and compelling fan experience,” Haskell continued.
“The next phase of growth will require collective investment from clubs, partners, and fans to increase competition between teams and set the stage for continued growth.”
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