Manchester United have tumbled to eighth position in the 2026 Deloitte Football Money League, marking their worst-ever ranking in the annual financial standings.
The Red Devils, who previously dominated the league by finishing top in 10 of its 29 editions, have been overtaken by rivals Liverpool as England's highest-earning football club for the first time.
United's dramatic four-place drop from last year stems primarily from their absence from the Champions League during the 2024-25 campaign.
Broadcasting income fell sharply from £224million to £179.34m as a direct result.
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Liverpool claimed fifth spot globally after returning to Europe's elite competition, boosted by a seven per cent rise in commercial revenue from additional non-matchday activities at Anfield.
Their total earnings reached £729m.
Real Madrid retained their position at the summit of the rankings, becoming the first football club in history to surpass £1billion in annual revenue.
The Spanish giants generated £1.01bn during the 2024-25 season.
Manchester United's reported stadium development plans indicate United have begun addressing their infrastructure shortfall
| MANCHESTER UNITEDBarcelona secured second place with £851m, followed by Bayern Munich in third with £750million.
Paris Saint-Germain completed the top four, earning £729m as the sole French representative in the top 20.
This marks the first occasion in the Money League's history that no English club has featured among the top four positions.
The leading quartet all benefited significantly from deep runs in the expanded Champions League format and participation in the FIFA Club World Cup last summer.
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Real Madrid retained their position at the summit of the rankings
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Clubs involved in that tournament experienced an average 17 per cent increase in broadcast revenues.
Tim Bridge, the Sports Business Group Leader at Deloitte, said that United's position as the industry benchmark has eroded considerably over recent years.
He said: "If you went back 10 or 15 years, and you looked at Manchester United's matchday revenue it was the industry leader. If you looked at their ability to generate commercial revenue, it was the benchmark by which everybody then went to market and set their strategy. I don't think that remains the case."
“The opportunity remains for Manchester United. They are arguably still the biggest global football club brand and can maximise that in a way that is only possible for a select few."
Manchester City slipped to sixth place with revenue of £722million
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Bridge added: “But to do that requires fit-for-purpose facilities. Clubs need to rethink how they engage with fans and how that relationship works.”
He noted that reported stadium development plans indicate United have begun addressing their infrastructure shortfall, though their timing "is behind Real Madrid and Barcelona."
The broader Premier League picture remains strong, with nine English top-flight clubs securing places in the top 20 rankings.
Manchester City slipped to sixth place with revenue of £722m, their lowest ranking since the Covid-affected 2019-20 season.
Arsenal finished seventh with £715million
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Arsenal finished seventh with £715m.
Tottenham claimed ninth spot despite a 17th-place league finish, while Chelsea held steady in 10th following their return to Champions League football and success in the Conference League and Club World Cup.
Aston Villa climbed four places to 14th after reaching the Champions League quarter-finals, with Newcastle 17th and West Ham rounding out the English contingent in 20th.
English clubs may anticipate improved standings in the 2027 edition, reflecting the new broadcast agreement running until 2029.
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