The Deloitte Money List provides a useful insight into the revenue generated each season by the top football clubs in the world.
Only four clubs have topped the rankings since they were launched in 1996/97 – Real Madrid, Manchester United, Barcelona and Manchester City.
While those clubs have inevitably enjoyed sustained periods of success domestically, they have had differing degrees of success in the Champions League.
With that in mind, read on as look at which clubs have performed best in the Deloitte Money List before assessing whether richer clubs win more trophies in Europe.
| Club | Best Rank | Points | Years | Most Recent | Champions League Titles |
| Real Madrid | 1 | 553 | 29 | 2024/25 | 9 |
| Manchester United | 1 | 532 | 29 | 2024/25 | 2 |
| Barcelona | 1 | 484 | 29 | 2024/25 | 4 |
| Bayern Munich | 2 | 481 | 29 | 2024/25 | 3 |
| Chelsea | 4 | 387 | 28 | 2024/25 | 2 |
| Liverpool | 3 | 366 | 29 | 2024/25 | 2 |
| Juventus | 2 | 363 | 29 | 2024/25 | |
| Arsenal | 5 | 357 | 29 | 2024/25 | |
| AC Milan | 3 | 309 | 29 | 2024/25 | 2 |
| Inter Milan | 6 | 269 | 29 | 2024/25 | 1 |
| Manchester City | 1 | 263 | 21 | 2024/25 | 1 |
| Tottenham Hotspur | 8 | 244 | 29 | 2024/25 | |
| Paris Saint-Germain | 3 | 232 | 17 | 2024/25 | 1 |
| Borussia Dortmund | 7 | 193 | 26 | 2024/25 | 1 |
| Roma | 9 | 150 | 27 | 2024/25 | |
| Newcastle United | 5 | 127 | 25 | 2024/25 | |
| Schalke 04 | 10 | 116 | 18 | 2019/20 | |
| Atletico Madrid | 12 | 108 | 18 | 2024/25 | |
| Lazio | 6 | 70 | 11 | 2020/21 | |
| Lyon | 11 | 66 | 17 | 2023/24 |
(Points are given for positions in the top 20 on a sliding scale from 20 for first to one for 20th).
Madrid stand tall over their European rivals
Madrid have topped the Deloitte standings on 15 occasions. Man United (10), Barcelona (2) and Man City (2) are the only clubs who have claimed top spot since the rankings were launched.
Los Blancos’ wealth has translated into success in the Champions League, with the club winning nine titles in the last 29 seasons. By contrast, the Red Devils have only lifted the prestigious trophy twice.
United fans may feel that the club’s wealth should have helped them at least match Barcelona’s tally of four Champions League titles, and they undoubtedly have a point.
However, it is worth noting that despite their status as one of the highest revenue generating clubs in Europe, Barcelona have not won the Champions League since 2014/15.
Madrid have won the title five times during that period, despite being relatively close to Barcelona in terms of the revenue they generate each season.
That statistic demonstrates that wealth is only useful if a club manages their finances properly. Madrid fit that narrative, while Barcelona don’t.
Of the ten clubs who have performed best in the Deloitte rankings since they were launched, only Juventus and Arsenal have failed to win the Champions League.
Manchester City, Paris Saint-Germain and Borussia Dortmund are the only clubs ranked 11-20 who have lifted UEFA’s top club prize during the timeframe studied.
The first two named clubs represent ‘new wealth’, while Dortmund’s success dates back to the time when football finances were nowhere near modern day levels.
Porto’s success in the 2003/04 Champions League is the only outlier when considering whether wealth helps clubs win major silverware.
The Portuguese club have only appeared in the Deloitte Money List once. They were ranked 29th in the 2018/19 season.
Their memorable run to the title was fuelled by manager Jose Mourinho, who subsequently guided Inter Milan to success in the same competition in 2009/10.
His successes highlighted that while lower ranked clubs can break the glass ceiling in Europe, the wealthiest teams have largely cornered the market in the Champions League.
