Real Madrid overtake Man City as highest revenue-generating club - Deloitte

Real Madrid have overtaken Manchester City and topped the Deloitte Football Money League as the world's highest revenue-generating club in the 2022-23 season, with commercial revenue taking over as the largest income stream for teams.

The Spanish club, leaders for the first time since the 2017-18 season, generated total revenue of 831 million euros ($907.78 million), followed by City (826 million euros) and Paris St Germain (802 million euros).

Barcelona moved from seventh last year up to fourth, generating 800 million euros while Manchester United slipped one place to fifth as they made 746 million euros.

Real recorded an increase in revenue of 118 million euros over the previous year, their 16 per cent growth attributed to strong retail performance, higher stadium attendance and recovery of sponsorship income.

Despite City losing the top spot, which they had held for the last two years, the club reported its highest ever revenue for a season, thanks to their treble-winning campaign which bolstered their broadcast and commercial revenues.

Commercial revenue was the largest income stream at clubs for the first time since 2015-16, excluding the COVID-19 impacted 2019-20 season, as broadcast revenue increased by a modest 5 per cent.

"A high demand for live sport is pointing towards further growth for commercial and matchday revenues, in particular," said Tim Bridge, lead partner in Deloitte's Sports Business Group.

"As clubs appear to no longer be able to rely on exponential broadcast revenue growth, creating a more commercially focused business model will support them to achieve greater control over their financial stability."

Liverpool, the biggest movers in last year's edition, rising from seventh to third, reported the