European football revenue hit record €38bn in 2023-24 season
The growth of the European football industry continues to show little sign of slowing after collective revenues for the 2023-24 season climbed to a record €38billion (£32.2bn, $43.6bn).
Deloitte, the leading accounting firm, has published its 34th Annual Review of Football Finance today and reported an eight per cent increase in turnover across the continent.
Advertisement
The so-called big five leagues — the top divisions from England, Spain, Italy, Germany, and France — still contribute the greatest figures, with their aggregate revenues found to have topped €20bn for the first time last season. Over a third of that sum continues to come from the Premier League's 20 clubs, who reported growth of four per cent on the previous campaign.
Germany's Bundesliga was the only major European league to see a downturn in revenues, falling one per cent year on year to €3.8bn. That allowed La Liga's combined wealth to almost draw level as the closest competitor to the Premier League, with aggregate revenues enjoying a six per cent uplift in 2023-24.
European football's aggregate revenues, with figures including domestic leagues and national associations, have grown consistently since the turn of the century and are forecast by Deloitte to continue in the next two years. They estimate revenues will have climbed to €39.3bn in the season that is just finishing, before heading north again to €43.1bn in 2025-26.
Amid those positive projections, though, are warning signs. Deloitte's report sees small growth for the big five leagues in 2024-25, before revenues then plateau next season.
That is predominantly down to the deep uncertainty over Ligue 1's broadcast rights, but projects largely flatlining numbers for Serie A and Bundesliga. Those forecasts suggest that the Premier League's place as market leader will only grow.
Last season saw commercial revenues of the top 20 English clubs go beyond the £2bn mark for the first time, with matchday revenues climbing to £909m.
Broadcast revenues (coming in at £3.3bn with earnings from European competitions) alone are more than any other top European league turns over in total. Premier League clubs are assured of that figure growing again next season as a new and improved domestic broadcast cycle begins in 2025-26. Deloitte forecasts the Premier League's aggregate revenues to touch almost £7bn next season.
Advertisement
Other patterns point to a more pragmatic approach on the continent. Clubs in the big five leagues were found to have reported an operating profit of €600m in 2023-24. Wages as a percentage of revenue also fell from 66 to 64, suggesting that lavish spending has been tempered.
'The pressure is mounting for more clubs to drive additional revenue at the same time as managing rising costs,' Tim Bridge, lead partner in the Deloitte Sports Business Group, said in a statement accompanying the report.
'More than ever, leaders and owners must recognise the great responsibility they have of managing these businesses, capturing the historic essence of a football club while honouring its unrivalled role as a community asset for generations to come.'
Deloitte's report found Championship clubs had recorded revenues just shy of £1bn, but found wages had climbed significantly to £892m. That ensured 93 per cent of turnover from the 24 Championship clubs in 2023-24 was spent on wages, with 11 of the 24 clubs committing more on salaries than they generated.
League Two's aggregate revenues climbed significantly to £160m, but 17 per cent of that inflated sum came from Wrexham, as they passed through the division in 2023-24 en route to League One.
The greatest growth witnessed, though, came in the Women's Super League. Deloitte's report found that £65m had been generated, 34 per cent up on the previous season.
All 12 WSL clubs reported income of over £1m for the first time, and forecasts estimate that total revenues for the top-flight of the English women's game will reach £100m in 2025-26.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
41 minutes ago
- Forbes
Frankfurt Brings 64 Retail Units To New Terminal Including Boss, Montblanc And Gatezero
Frankfurt Airport's T3 shopping offer is built around a marketplace. Fraport, the listed operator of Frankfurt Airport, has disclosed more information about the 129,000 square feet of retail space it will open in April 2026 at its new Terminal 3, where construction is now almost finished. In January this year, Fraport announced the two winners of its food and beverage (F&B) tenders, and now the concessionaires for the 64 retail and service units at T3 have also been revealed. Anke Giesen, responsible for retail and real estate at the airport and part of Fraport's executive board, said that when developing the shopping offer, target groups including airport employees, as well as passengers, were top of mind. She added: 'We're working with our concessionaires to create amazing concepts—this is our retail vision and we're going to continue implementing it in an architecturally spectacular setting in Terminal 3.' Compared to the existing two terminals, the low-lying exterior profile of T3 has some similarities. However, regular users of Germany's busiest hub, home to Lufthansa, will see a welcome change in the interior design with a spacious-looking marketplace at its center, very different from the cramped older terminals. The marketplace has a total of 15 retail outlets surrounding it with a bar and two food courts that can seat nearly 1,000 people beneath a futuristically designed drop ceiling designed by architect Christoph Mäckler. The space is a relaxation zone, a calming space that might encourage people to de-stress enough to go shopping. T3 is expected to have a large share of international transit passengers and Frankfurt Airport Retail (FAR), a joint venture between Fraport and global travel retailer Gebr. Heinemann, will be focused on driving sales from this segment. The JV operates the existing large duty-free department store-style stores at the airport. With the opening of T3, they will increase from four to a total of 23 and cover more than 32,000 square feet. Heinemann has been operating at Frankfurt for over 50 years, and it is the retailer's fourth biggest airport sales location after Istanbul, Tel Aviv, and Oslo (in order). T3 will take the FAR joint venture to a new level. Central to that will be the main duty-free shop, which alone will cover 18,600 square feet. Gatezero will debut in the German airport market at Frankfurt T3 next year. 'The aim is to create an unforgettable shopping experience, reflected in all areas from the architecture to the assortment, to the demeanor of the staff,' said Heinemann's sales director for Western Europe, Tobias Bechinger. As well as the key categories of beauty, spirits/wine, confectionery, tobacco, toys, and sunglasses, highlights will include a dedicated area for luxury niche fragrances; a new cross-category, multi-sensory concept; and a Habanos specialist humidor for fine cigars. FAR will also operate the Boss and Montblanc stores in the new terminal, as well as other branded units. In addition, it is bringing Gatezero, a fashion-forward airport retail format first launched at Switzerland's Zurich Airport in 2021, to Frankfurt. The concept from uber-cool Highsnobiety—majority owned by online retailer Zalando since 2022—also opened in Copenhagen Airport in 2022. T3 will mark Gatezero's debut at a German airport and will offer younger travelers the latest trends in luxury and street culture, with assortments ranging from fashion and accessories to tech and gadgets. Giesen said: 'We have a long history of cultivating close, trusting cooperation with our concessionaires, supporting and promoting the evolution of their business models by jointly developing ideas, also in challenging times. This approach pays off, which is evident in the fact that so many well-known brands have renewed their commitment to our location.' Some of those businesses include Capi Electronics, which will inaugurate two more shops in T3; jewelry and watches retailer Christ; Falke, a German stockings and apparel brand; as well as international names like Sunglass Hut, Tumi, and Longchamp, that are well established at the airport. Victoria's Secret, which, last year, hired Hillary Super, former CEO of Rihanna's Savage x Fenty brand, to revive the struggling brand, has made a comeback at Frankfurt. Its store, operated by a German business of Turkish travel retailer Setur, will sell an exclusive selection of lingerie, plus fragrances, body care, and accessories. Germany's Selection is a modern souvenir store concept. To cater for passengers wanting souvenirs, the shops Germany On My Mind and Germany's Selection, both part of the Wöllhaf Group, will sell well-known German products, including wall clocks and beer tankards. Giesen commented: 'In the new T3, we're going to showcase modern interpretations of what's 'typically German' and 'typically European'. We're at home here: at the heart of Hesse, Germany, and Europe. And we're actively emphasizing this.' Frankfurt Airport does indeed lie in the heart of Europe, but the gateway has stalled somewhat since the pandemic. According to global airport association, ACI, Frankfurt has retained its eighth-place ranking among the world's busiest international airports between 2019 and 2024. However, last year's 56.2 million passenger throughput was 11% down versus 2019, making it the worst-performing airport among Europe's big air hubs.
Yahoo
an hour ago
- Yahoo
Liverpool considering Osimhen move - Friday's gossip
Liverpool are considering Victor Osimhen while Bayer Leverkusen target Reds defender Jarell Quansah, and PSG have warned the Premier League champions off Bradley Barcola. Liverpool are considering a move for Napoli and Nigeria striker Victor Osimhen, 26, who spent last season on loan at Galatasaray. (Givemesport) Advertisement Bayer Leverkusen have made Liverpool's £40m-rated English central defender Jarell Quansah, 22, a summer target. (Athletic - subscription required) PSG will not allow France forward Bradley Barcola, 22, to leave this summer amid interest from Liverpool and Bayern Munich. (Foot Mercato - in French) Manchester United are interested in signing French striker Hugo Ekitike, 22, from Eintracht Frankfurt in a potential £85m deal. (Sky Sports) Arsenal are considering a move for Athletic Bilbao and Spain winger Nico Williams, 22. (Sun) However Williams has been given permission to move to Bayern Munich after they met his release clause. (Sky Germany) Advertisement Arsenal have also asked Ajax about the Netherlands central defender Jorrel Hato, 19. (Mail) AC Milan are interested in a move for Arsenal's versatile Ukrainian defender Oleksandr Zinchenko, 28. (Sky Sports) Luka Modric, 39, will postpone his move to AC Milan in order for the Croatian midfielder to play at the Club World Cup with Real Madrid. (Gazzetta dello Sport - in Italian) Newly promoted Premier League side Leeds are in talks with Udinese for 26-year-old Slovenia defender Jaka Bijol. (Sky Sports) Real Betis have offered a three-year contract to free agent full-back Junior Firpo, 28, after the Dominican Republic international was released by Leeds. (Fabrizio Romano) Advertisement Brentford will block attempts by new Tottenham manager Thomas Frank to bring Danish midfielder Christian Norgaard, 31 with him from his former club. (Givemesport) West Ham and Brentford are both interested in Rangers and Morocco striker Hamza Igamane, 22, after he scored 16 goals in the Scottish Premiership last season. (Foot Mercato - in French) Four Premier League clubs are willing to meet the £1.2m release clause of Millwall's English defender Japhet Tanganga, 26. (Sky Sports) Former Luton manager Rob Edwards is the lead candidate to take over at Championship side Middlesbrough. (Sky Sports)
Forbes
an hour ago
- Forbes
How Gold Overtook The Euro As A Global Reserve Asset
Gold bars getty It's official - gold is now the world's second-most held reserve asset for central banks. That's after the European Central Bank confirmed the yellow metal had overtaken the euro on the back of feverish buying sprees over the last 12 months that have pushed its price to record highs. In a report published earlier this week, the ECB acknowledged that gold bullion accounted for 20% of global official reserves in 2024 versus the euro's 16% share. The uptick in holdings implies that gold is now second only to the U.S. dollar, which commands around half (46%) of world's reserve holding share. It seems the reason behind it all can be attributed to the ECB's own central banking peers. It noted in its report that: 'Central banks continued to accumulate gold at a record pace.' Among these, the top three buyers in 2024 were the central banks of Poland, India and Turkey. Russia and China also picked up the pace of their gold purchases too, among many other. In total, central banks acquired more than 1,000 tonnes of gold in 2024 or a fifth of the total global annual production. The said level of purchasing - of more than a 1,000 tonnes - has also been broadly similar for the third year in a row. What's more, while buying by central banks has continued at pace, their gold sales volumes have remained relatively 'modest', according to the World Gold Council. It also implies that major Western holders of gold - i.e. the U.S., U.K., Germany, France and Italy largely held on to the yellow metal. Overall, central bank gold reserves reached 36,000 tonnes in 2024, according to the ECB. The figure is tantalizingly close to the 38,000 tonnes in reserves recorded in the mid-1960s and the historic highs of the post-World War II Bretton Woods era. There are several reasons why the precious metals market is seeing the rising allure of gold among central banks while the ECB is having to confront the euro's diminished status among its peers. For starters, gold prices have hit record highs in recent years. In 2024 alone, gold rose by 26%. Last year's rally has continued unabated well in to the second quarter of this year, to the point that the yellow metal posted a record high of $3,500 per troy ounce, having surged by another 25% so far this year. Naturally, central banks are not just taking note of the gold price spike but also proactively partaking in keeping it higher. For gold is neither exposed to counterparty risk nor to international sanctions some central banks (e.g. Russia) ought to fret over. In fact, buying levels of more than 1,000 tonnes per year three years in a row are reminiscent of central banks' moves during the global financial crisis of 2008-09, and the subsequent transition to a low interest rate climate. Retail investors are playing their part too, by flocking to the yellow metal and gold exchange traded funds, seeking a safe haven in a volatile world that's having to contend with anxieties ranging geopolitical tension to trade wars. That's despite gold being a non-yielding asset, but admittedly one that is indeed highly liquid.
