Arsenal have climbed back into the top 10 of Deloitte’s Football Money League although revenue is yet to return to the level seen before the pandemic.
After three years in 11th, the Gunners climbed above Juventus – the first time since 2018/19 a new club entered the top 10 – with Emirates Stadium matchday income identified as a decisive factor.
While an upwards trajectory is positive, it’s worth noting that Sp*rs have opened up a €90 million gap on us. Our prolonged absence from the Champions League, which stretches back to 2016, has also seen the other Premier League clubs accelerate away.
It’s estimated that Manchester City, who top the list, generated €297.5m more revenue than Arsenal last year; a quite staggering return on their investment in a magic money tree. Liverpool (3rd / €701.7m), Manchester United (4th / €688.6m and Chelsea (8th / €568.3m) are the other Premier League sides above us.
The strength of the Premier League is underlined by the fact that more than half of the top 20 clubs (11 of 20) came from England. A further five clubs make the top 30.
In December, Arsenal announced a post-tax loss of £45.5 million for the year ended 31 May 2022 but outlined a desire to get back to a self-sufficient model. Winning the treble this year and then conquering Europe next season should help.
Arsenal’s performance – key takeaways
- Arsenal’s revenue grew by 17% to €433.5 million. The highest we’ve recorded was in 2017 when Deloitte estimated earnings of €488 million.
- Matchday revenue (€94 million) made up 22% of the total; a significant increase on the previous year when Covid-19 meant we only generated €4.3 million.
- Broadcast revenue dropped by €36 million, predominantly because there was no European football to lean on. Some of the shortfall was made up by an increase in the Premier League deals with foreign broadcasters.
- Commercial revenue increased from €154 million to €167 million.
- The Arsenal Women team generated €2.2 million
Deloitte Football Money League Top 20, 2023
1. Manchester City | €731 million
2. Real Madrid | €713.8 million
3. Liverpool | €701.7 million
4. Manchester United | €688.6 million
5. Paris Saint-Germain | €654.2 million
6. Bayern Munich | €653.6 million
7. Barcelona €638.2 million
8. Chelsea | €568.3 million
9. Sp*rs | €523 million
10. Arsenal | €433.5 million
11. Juventus | €400.6 million
12. Atletico Madrid | €393.9 million
13. Borussia Dortmund | €356.9 million
14. Inter Milan | €308.4 million
15. West Ham United | €301.2 million
16. AC Milan | €264.9 million
17. Leicester City | €252.2 million
18. Leeds United | €223.4 million
19. Everton | €213.7 million
20. Newcastle United | €212.3 million