Deloitte Football Money League - Top ranked women’s football clubs generate over €150m for first time

Top ranked women's football clubs generate over €150m for first time

For a fourth year, the Deloitte Football Money League profiles 15 of the top revenue generating women's clubs* globally. In another record-breaking year, these clubs reported average revenues in excess of €10m for the first time, with cumulative revenues of €158m, marking an increase of 35% on last year's total.

The composition of this year's top 15 remains largely consistent with the 2025 edition, with Women's Super League (WSL) clubs continuing to dominate the rankings.

Arsenal Women tops the list for the first time this year, with revenues of €25.6m, an increase of 43% from the previous season. Significant investment in data to understand their audiences helped garner attendances exceeding 35,000 on five separate occasions across the 2024/25 season. The club also introduced tiered pricing to encourage repeat attendance, leading the way for Arsenal Women to top matchday revenue generation across the top 15 clubs analysed (€7m).

Chelsea Women ranks in a close second (€25.4m), having generated the highest commercial revenue amongst the top 15 (€19.1m). FC Barcelona Femení (€22m) completes the top three after another successful domestic season.

Cumulatively, the revenue generated by this year's top three clubs represents 46% of that of the top 15. These three clubs all won major trophies during the 2024/25 season, and generated average revenue of €24.3m - more than treble the average revenue generated by the rest of the top 15 clubs analysed (€7m).

Jennifer Haskel, knowledge and insight lead in the Deloitte Sports Business Group, said: "The topline revenue growth across women's football clubs reflects the ongoing innovation and commercially focussed mindset in some of the games' leading markets. The women's game is beginning to carve its own path with new and expanded brand partnerships, new ticketing strategies, and dedication to truly understanding the evolving fanbase.

"As average revenues reach a new high, there is a meaningful gap forming between the top ranked clubs and the rest of the pack. However, what is clear across the ranking, is that there is no one-size-fits-all blueprint for how to reach and engage fans, or how to deliver on a club's business objectives. While clubs will continue to benefit from on-pitch success, expanding and improving business operations can further develop the club's global brand value and ultimately provide funds that can be reinvested back on the pitch to improve the overall product."

Across the three key revenue streams, commercial revenue remains the main driver of growth for women's football clubs, comprising almost three quarters (72%) of the top 15 clubs' total revenue.

Average matchday revenue generated by the top 15 clubs increased from €1.3m in 2023/24 to €1.5m in 2024/25, an increase of 15%. However, in contrast to this revenue growth, attendances have in some cases decreased, with five WSL clubs reporting a season-on-season drop after the record-breaking 2023/24 season.

Amongst the top 15 clubs, broadcast revenue declined by 6% to €1.3m on average in 2024/25, now representing 13% of total revenue. However, broadcast revenue increased marginally (3%) amongst the thirteen clubs that also featured in last year's top 15. This relative stability is in part driven by the timing of leagues' domestic rights cycles, many of which have several seasons until expiry.

European and international competitions also enhanced revenue generation. Manchester City Women (4^th, €12.9m) saw revenues increase by 63% after returning to the UWCL knockout stages for the first time since 2020/21. Meanwhile, FC Bayern Frauen (8^th, €7.2m) was one of four top 15 clubs to compete in the inaugural World Sevens Football tournament, with the club reportedly receiving a proportionately material €2.3m in prize money, demonstrating the impact innovation can deliver at this stage.

Haskel added: "Commercial revenue remains the growth engine for the women's game. Brands are entering and expanding in the space to reach a highly engaged audience, increase the visibility of the game, and empower athletes with a growing platform. The commercial template for women's teams may differ from that of their men's counterparts, including how brands show up and activate with the clubs, athletes, and fans. There is still huge potential for brands to impact the game as further sponsorship opportunities emerge, and strategies evolve to match the long-term vision.

"Whilst growth has developed significantly in women's football in recent years, the shift from the start up phase to the established phase requires consistent time, investment, and effort to develop the foundations in the right manner. As further milestones are hit, including new and expanded competitions on the biggest stages, industry leaders must continue to innovate, while also protecting the wants and needs of fans and players to foster a more sustainable future for the game."

The full findings of the Deloitte Football Money League will be available on Thursday 22 January 2026 at: www.deloitte.co.uk/dfml.

ENDS

Notes to Editors
* The Money League ranking for women's football includes 15 of the highest revenue generating women's clubs for the financial year ending in 2025 in some of the game's leading markets. The ranking is focused on clubs competing in key football leagues (England, France, Germany, Italy, Spain, Portugal, Norway, Brazil and Japan), for which information was available to us. The revenue of women's football clubs in other key markets such as Australia, Sweden and USA was not made available to us and so is not included in our analysis.

Deloitte Football Money League 2026 - women's clubs