Commercial revenues drive growth for Europe's elite football clubs

Commercial revenues have become the primary income source for Europe's ten wealthiest football clubs, according to a report by Football Benchmark and World Football Summit. For the 2024/25 season, these top ten clubs are projected to reach combined operational revenues of approximately 8.4 billion euros, a significant increase from the 2.7 billion euros recorded in the 2008/09 season.

Commercial activities—including sponsorships, kit sales, and licensing—now account for 49% of the elite clubs' total revenue, up from 32% in 2008/09. This shift marks a departure from previous years when television and media rights were the dominant drivers. In contrast, the share of revenue from broadcasting rights has declined from 42% to 32%, while matchday and stadium income has dropped from 27% to 19%.

The financial gap between the elite and the rest of the footballing landscape continues to widen. While the commercial shift occurred for the top ten clubs as early as 2018/19, it took until 2022/23 for this trend to manifest across the broader group of approximately 700 clubs in Europe's top divisions. English Premier League clubs have seen significant growth, increasing their share of total European top-flight revenues from 21% in 2008/09 to 26% in 2023/24.