The Football Money League – Part 2

Digging deeper into those figures that show West Ham as 18th in world football money league.

Football MoneyOur earlier article summarised the league table of the top 20 football clubs in the world in respect of revenue generation. It showed West Ham in eighteenth place, and in seventh place of the eight Premier League teams. The English teams in the table were led by Manchester United, followed by Manchester City, Arsenal, Chelsea, Liverpool, Tottenham, West Ham, and Leicester. Emphasising the correlation between revenue generation and league positions, it is interesting to note that the top six English teams are the same in terms of both revenue and current league position, albeit in a different order. And their gap ahead of the rest is equally substantial in both revenue terms and points in the league.

Previously we showed the total revenue figures, followed by the percentages of that revenue produced as matchday income, TV income, and commercial income. The total revenue figures show the wide gulf between the other English clubs and ourselves, but if you analyse the actual figures in £M for each individual category, you can see just how far behind we are, and how it may be impossible to bridge the gap. When compared to previous years of the Deloitte table, the clubs at the top are getting exponentially richer, especially in terms of matchday revenue and commercial income in particular.

Looking at the matchday revenue figures, both Manchester United and Arsenal have figures of around four times of our own, Chelsea approaching three times, and we would need to double matchday income to be on a par with Liverpool and Manchester City, and raise it by 50% to match Tottenham. But that would be if their figures stood still, which they won’t. The move to the London Stadium was vital in revenue terms just to try to keep pace with the top clubs. It is unlikely to bring us any closer, especially in view of their own plans to increase capacities with larger stadiums.

Matchday Revenue (£M)

1

Manchester United

103.1

2

Arsenal

101.6

3

Real Madrid

97.4

4

Barcelona

88.1

5

Bayern Munich

75.3

6

Chelsea

70.3

7

PSG

70.1

8

Liverpool

57.4

9

Manchester City

51.0

10

Borussia Dortmund

46.7

11

Tottenham

39.7

12

Schalke 04

38.6

13

Juventus

33.2

14

Atletico Madrid

27.4

15

West Ham United

27.3

16

AS Roma

21.2

17

AC Milan

19.3

18

Internazionale

18.8

19

Leicester City

11.6

20

FC Zenith

7.4

In view of the way TV income is allocated, in percentage terms we are a lot closer to the other English clubs in the table, although our income is only half that of Manchester City, and considerably less than the others.

TV Revenue £M

1

Real Madrid

171.6

2

Manchester City

161.0

3

Barcelona

153.1

4

Juventus

145.4

5

Chelsea

143.9

6

Arsenal

143.7

7

Manchester United

139.1

8

Liverpool

126.8

9

AS Roma

115.9

10

Tottenham

110.9

11

Bayern Munich

110.7

12

Atletico Madrid

104.3

13

Leicester City

95.2

14

PSG

93.5

15

West Ham United

86.3

16

Internazionale

73.7

17

AC Milan

65.8

18

Borussia Dortmund

61.6

19

Schalke 04

55.4

20

FC Zenith

30.9

But it is the income generated commercially that is a real eye-opener. Tottenham’s figure is almost double of our own, Arsenal more than three times, Chelsea and Liverpool around four times, Manchester City six times, and Manchester United nine times! The figures show that, if the TV money were to dry up, or diminish to any great extent, the revenue differential between clubs would be even greater in percentage terms.

Commercial Revenue £M

1

Manchester United

273.1

2

Bayern Munich

256.8

3

PSG

226.0

4

Barcelona

222.6

5

Real Madrid

194.8

6

Manchester City

180.6

7

Chelsea

120.5

8

Liverpool

117.8

9

FC Zenith

108.8

10

Arsenal

105.1

11

Borussia Dortmund

104.0

12

Juventus

76.5

13

AC Milan

75.4

14

Schalke 04

73.9

15

Tottenham

58.6

16

Internazionale

41.5

17

Atletico Madrid

39.3

18

West Ham United

30.2

19

AS Roma

26.1

20

Leicester City

21.9