The document discusses the financial impacts of the COVID-19 pandemic on top football clubs in Europe. It estimates that clubs in the Deloitte Football Money League missed out on over €2 billion in revenue over the 2019/20 and 2020/21 seasons due to factors like the absence of fans at matches and rebates to broadcasters. Several clubs such as Barcelona, Real Madrid, and Bayern Munich saw commercial revenue increases through new sponsorship and merchandising deals, but matchday and broadcast revenue declined significantly without fans in stadiums. Overall, the pandemic had large negative financial impacts on Europe's biggest clubs in the 2019/20 and 2020/21 seasons.

1. Deloitte Football Money League 2021
| Top 20 clubs
Testing times
Football Money League
Deloitte Sports Business Group
January 2021

2. Deloitte Football Money League 2021
| Top 20 clubs
We estimate that those clubs in this year’s
Money League will have missed out on over
€2 billion of revenue across the 2019/20 and
2020/21 seasons. This is primarily driven by
matchday revenue, due to the absence of
fans, but also rebates to broadcasters and
some commercial impacts as well as the lost
potential to continue their previous growth
trajectory over the period.

3. Deloitte Football Money League 2021
| Top 20 clubs
FC Barcelona
1
The club continues to capitalise on the
strength of its global brand with a new
digital and commercial strategy which
included the launch of a new streaming
platform, Barça TV+, in June 2020 aimed
at improving fan engagement as well as
commercial revenue.
1,000
750
500
250
2017 2018
2016
620
0
648
690
2 3 2
2019
841
1
2020
715
1
47%
€340.2m
(£298.4m)
18%
€126.4m
(£110.9m)
35%
€248.5m
(£217.8m)
1
1
3
Annual revenue DFML position Matchday Broadcast Commercial
Revenue 2016-2020 (€m) Revenue profile 2020 (€m)
2020 Revenue
€715.1m
(£627.1m)
2019 Revenue
€840.8m
(£741.1m)
(15%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Women’s football Average league
attendance*
72,400
Yes No
On-pitch performance
League: 2nd
UCL: Q/F
Player transfer
income
€167m
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
Total social media followers 2020 (m)
Note: Figures in brackets show top 20 ranking per
social media account.
92.5 (2)
35 (2)
6.6 (1)
10.7 (1)
Total
248m
103.2 (2)
0 20 40 80 100 120

4. Deloitte Football Money League 2021
| Top 20 clubs
Real Madrid
2
1,000
750
500
250
2017 2018
2016
620
0
675
751
54%
€382.7m
(£335.6m)
15%
€108.2m
(£95m)
31%
€224m
(£196.4m)
3 2 1
2019
757
2
2020
715
2
2
3
1
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
66,984
Yes No
On-pitch performance
League: 1st
UCL: Round of 16
Player transfer
income
€152.6m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€714.9m
(£627m)
2019 Revenue
€757.3m
(£667.5m)
(6%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
94.5 (1)
35.7 (1)
4.2 (2)
6.2 (2)
Total
251.5m
110.9 (1)
0 20 40 80 100 120
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
Impressively, commercial revenue increased
by €28.1m (8%) to €382.7m, influenced by
the extension of the club’s partnership with
adidas to 2028, and increased success in
merchandising operations.

5. Deloitte Football Money League 2021
| Top 20 clubs
Bayern Munich
3
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
592
0
588
629
4 4 4
2019
660
4
2020
634
3
57%
€360.5m
(£316.2m)
11%
€70.3m
(£61.6m)
32%
€203.3m
(£178.3m)
8
6
2
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
75,000
Yes No
On-pitch performance
League: 1st
UCL: Winner
Player transfer
income
€63.9m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€634.1m
(£556.1m)
2019 Revenue
€660.1m
(£581.8m)
(4%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
51.4 (4)
24.8 (7)
5.2 (11)
3.8 (4)
1.9 (10)
Total
87.1m
0 20 40 60 80 100
The delayed end to the 2019/20 season
will result in a proportion of broadcast and
commercial revenue from Bayern’s success
in the Champions League being recognised
in the next edition of the Money League.

6. Deloitte Football Money League 2021
| Top 20 clubs
Manchester United
4
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
689
0
676 666
1 1 3
2019
712
3
2020
580
4
55%
€321.7m
(£282.1m)
17%
€98.8m
(£86.7m)
28%
€159.9m
(£140.2m)
4
10
4
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
73,956
Yes No
On-pitch performance
League: 3rd
UEL: Semi-Final
Player transfer
income
€80.3m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€580.4m
(£509m)
2019 Revenue
€711.5m
(£627.1m)
(19%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
The Red Devils remain the highest
commercial revenue generating
Premier League club, totalling
£282.1m, and the fourth highest in
the Money League.
73.4 (3)
38.5 (4)
24.1 (3)
1.2 (12)
3.6 (4)
Total
140.8m
0 20 40 60 80 100

7. Deloitte Football Money League 2021
| Top 20 clubs
Liverpool
5
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
404
0
424
514
9 9 7
2019
605
7
2020
559
5
43%
€243.4m
(£213.5m)
15%
€82.7m
(£72.5m)
42%
€232.5m
(£203.9m)
7
2
7
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
52,871
Yes No
On-pitch performance
League: 1st
UCL: Round of 16
Player transfer
income
n/a
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€558.6m
(£489.9m)
2019 Revenue
€604.7m
(£533m)
(8%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
37.1 (10)
29.4 (6)
16.2 (5)
3.6 (5)
5.4 (3)
Total
91.7m
0 20 40 60 80 100
On the pitch, the club decisively ended its
30-year wait for a league title, combined
with success in the UEFA Super Cup
and FIFA Club World Cup and continued
participation in the Champions League.

8. Deloitte Football Money League 2021
| Top 20 clubs
Manchester City
6
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
525
0
528
568
5 5 5
2019
611
6
2020
549
6
52%
€284.6m
(£249.6m)
9%
€47.6m
(£41.7m)
39%
€217m
(£190.3m)
12
4
6
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
54,269
Yes No
On-pitch performance
League: 2nd
UCL: Q/F
Player transfer
income
n/a
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€549.2m
(£481.6m)
2019 Revenue
€610.6m
(£538.2m)
(11%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
39.9 (8)
22.0 (9)
8.9 (7)
2.2 (6)
2.9 (6)
Total
75.9m
0 20 40 60 80 100
Commercial revenue growth was largely
attributable to the club’s new deal with
technical kit provider Puma, the long-term
agreement providing a step-change in
revenue from the previous deal with Nike,
as well as the commencement
of the agreement with training
kit partner, Marathonbet.

9. Deloitte Football Money League 2021
| Top 20 clubs
Paris Saint-Germain
7
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
521
0
486
542
55%
€298.6m
(£261.9m)
17%
€92.4m
(£81m)
28%
€149.6m
(£131.2m)
6 7 6
2019
636
5
2020
541
7
5
12
5
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
47,517
Yes No
On-pitch performance
League: 1st
UCL: Runner-up
Player transfer
income
n/a
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€540.6m
(£474.1m)
2019 Revenue
€635.9m
(£560.5m)
(15%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
42.0 (7)
32.5 (5)
8.5 (9)
3.9 (3)
2.7 (7)
Total
89.6m
0 20 40 60 80 100
From a commercial perspective, PSG will
be looking to continue capitalising on the
strength of its growing global brand, with
the start of a successful collaboration
with Nike Jordan supplemented by a
ten-year extension to its ecommerce,
manufacturing and licensing
deal with Fanatics.

10. Deloitte Football Money League 2021
| Top 20 clubs
Chelsea
8
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
447
0
428
506
43%
€199.4m
(£174.9m)
13%
€62.1m
(£54.5m)
44%
€208.2m
(£182.5m)
8 8 8
2019
513
9
2020
470
8
9
5
8
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
40,564
Yes No
On-pitch performance
League: 4th
UCL: Round of 16
Player transfer
income
€217m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€469.7m
(£411.9m)
2019 Revenue
€513.1m
(£452.2m)
(9%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
48.6 (5)
24.8 (8)
15.8 (6)
1.5 (9)
2.5 (8)
Total
93.2m
0 20 40 60 80 100
The Blues have secured telco Three as
shirt front sponsor on a three-year deal
to 2022/23, reportedly on similar financial
terms to the previous partner, Yokohama
Tyres, with the club set to benefit from
the company’s technological expertise,
not least from the roll out of
5G networks.

11. Deloitte Football Money League 2021
| Top 20 clubs
Tottenham Hotspur
9
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
280
0
360
428
41%
€183m
(£160.5m)
24%
€107.7m
(£94.5m)
35%
€155m
(£135.9m)
12 11 10
2019
521
8
2020
446
9
3
11
10
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
61,146
Yes No
On-pitch performance
League: 6th
UCL: Round of 16
Player transfer
income
€51.9m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€445.7m
(£390.9m)
2019 Revenue
€521.1m
(£459.3m)
(15%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
19.6 (12)
9.6 (13)
5.4 (10)
1.4 (10)
1.6 (11)
Total
37.6m
0 20 40 60 80 100
Despite the impact of the pandemic,
matchday and commercial revenue grew
to £94.5m (up 16%) and £160.5m (up 20%)
respectively, demonstrating the revenue
generating potential that Tottenham has
unlocked through its new stadium.

12. Deloitte Football Money League 2021
| Top 20 clubs
Juventus
10
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
339
0
406 395
10 10 11
2019
460
10
2020
398
10
47%
€188.9m
(£165.7m)
11%
€42.3m
(£37.1m)
42%
€166.7m
(£146.2m)
14
9
9
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
39,777
Yes No
On-pitch performance
League: 1st
UCL: Round of 16
Player transfer
income
€240.6m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€397.9m
(£349m)
2019 Revenue
€459.7m
(£405.2m)
(13%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
43.5 (6)
45.6 (3)
8.7 (8)
2.0 (7)
3.1 (5)
Total
102.9m
0 20 40 60 80 100
Juve is focused on growing its brand both
domestically and internationally with
the continued exploration of innovative
opportunities, including fashion brand
collaborations, the J-Hotel and entering a
first-of-its-kind arrangement with
Amazon to broadcast Juventus TV
on its Amazon Prime
streaming platform.

13. Deloitte Football Money League 2021
| Top 20 clubs
Arsenal
11
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
469
0
488
439
7 6 9
2019
445
11
2020
388
11
42%
€162.3m
(£142.3m)
23%
€89.7m
(£78.7m)
35%
€136m
(£119.3m)
6
13
12
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
60,282
Yes No
On-pitch performance
League: 8th
UEL: Round of 32
Player transfer
income
€76.5m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€388m
(£340.3m)
2019 Revenue
€445.2m
(£392.4m)
(13%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
37.9 (9)
18.8 (10)
16.8 (4)
0.7 (14)
2.2 (9)
Total
76.4m
0 20 40 60 80 100
On the pitch, the Gunners won the FA
Cup for a record 14th time and will hope
winning silverware will be the first step
in improving on-pitch performance,
including a return to the Champions
League for the first time since the
2016/17 season.

14. Deloitte Football Money League 2021
| Top 20 clubs
Borussia Dortmund
12
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
284
0
333 317
11 12 12
2019
372
12
2020
366
12
41%
€149.6m
(£131.2m)
13%
€46.3m
(£40.6m)
46%
€169.8m
(£148.9m)
13
8
13
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
81,154
Yes No
On-pitch performance
League: 2nd
UCL: Round of 16
Player transfer
income
€124.6m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€365.7m
(£320.7m)
2019 Revenue
€371.7m
(£327.6m)
(2%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
Future revenue growth is likely to rely
on on-pitch performances – notably
in the Champions League – and BVB’s
continued commercial drive, particularly
with a focus towards the Chinese and
other Asian markets.
15.1 (13)
12.1 (11)
3.7 (13)
1.4 (10)
0.7 (13)
Total
33m
0 20 40 60 80 100

15. Deloitte Football Money League 2021
| Top 20 clubs
Atlético de Madrid
13
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
229
0
273 304
13 13 13
2019
368
13
2020
332
13
25%
€82.9m
(£72.7m)
15%
€50.4m
(£44.2m)
60%
€198.5m
(£174.1m)
11
7
17
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
57,098
Yes No
On-pitch performance
League: 3rd
UCL: Q/F
Player transfer
income
€231.8m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€331.8m
(£291m)
2019 Revenue
€367.6m
(£324m)
(10%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking
per social media account.
With the financial benefits of on-pitch
success, Atletico will be looking to
maintain its strong start to the 2020/21
season, preserving its position atop of
La Liga, whilst progressing to the latter
stages of the Champions League.
13.7 (14)
10.8 (12)
4.8 (12)
2.0 (7)
0.3 (16)
Total
31.6m
0 20 40 60 80 100

16. Deloitte Football Money League 2021
| Top 20 clubs
FC Internazionale Milano
14
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
179
0
262 281
19 15 14
2019
365
14
2020
292
14
34%
€98.6m
(£86.4m)
19%
€56.9m
(£49.9m)
47%
€136m
(£119.3m)
10
13
14
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
65,800
Yes No
On-pitch performance
League: 2nd
UEL: Runner-up
Player transfer
income
€88.1m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€291.5m
(£255.6m)
2019 Revenue
€364.6m
(£321.3m)
(20%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
Consistent with a growing trend across
European football, Inter chose to buy back the
merchandising rights for the majority of its
products (excluding the first team kit) from
Nike to allow the club to directly manage
its retail and licensing activities, with
the aim of delivering significant
growth in commercial revenue
in future years.
27.4 (11)
6.2 (14)
2.3 (15)
0.8 (13)
0.7 (12)
Total
37.4m
0 20 40 60 80 100

17. Deloitte Football Money League 2021
| Top 20 clubs
FC Zenit
15
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
196
0
180 168
17 n/a n/a
2019
180
n/a
2020
237
15
74%
€175m
(£153.5m)
6%
€14.8m
(£13m)
20%
€46.7m
(£40.9m)
18
20
11
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
47,700
Yes No
On-pitch performance
League: 1st
UCL: Group
Player transfer
income
€58.5m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€236.5m
(£207.4m)
2019 Revenue
€180.4m
(£159m)
29%
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
Zenit recorded the largest revenue
growth, €56.1m (31%) of any club in
this year’s top 20 and are the only club
outside of Europe’s ‘big five’ leagues in
four years to feature in the Money League
(since Zenit themselves in 2015/16).
1.0 (19)
0.7 (19)
0.7 (19)
0.2 (17)
0.5 (14)
Total
3.1m
0 20 40 60 80 100

18. Deloitte Football Money League 2021
| Top 20 clubs
Schalke 04
16
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
225
0
230 244
14 16 16
2019
325
15
2020
223
16
41%
€92.2m
(£80.9m)
16%
€35.7m
(£31.3m)
43%
€94.9m
(£83.2m)
16
18
15
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
61,211
Yes No
On-pitch performance
League: 12th
Player transfer
income
€6.4m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€222.8m
(£195.4m)
2019 Revenue
€324.8m
(£286.3m)
(31%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
New commercial partnerships from the 2020/21
season include an upgrade to its association
with Harfid and a content collaboration with
Onefootball. Indeed, the Royal Blues reportedly
have the third biggest sponsorship portfolio in
the Bundesliga, behind title winners Bayern and
Revierderby rivals Dortmund.
2.9 (18)
0.9 (18)
0.7 (18)
0.1 (18)
0.1 (18)
Total
4.7m
0 20 40 60 80 100

19. Deloitte Football Money League 2021
| Top 20 clubs
Everton
17
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
163
0
199 213
n/a 20 17
2019
211
19
2020
212
17
41%
€86.7m
(£76m)
6%
€13.6m
(£11.9m)
53%
€111.7m
(£98m)
19
16
16
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
39,282
Yes No
On-pitch performance
League: 12th
Player transfer
income
€97.7m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
Declines in matchday (£2.7m, 18%) and
broadcast (£35.7m, 27%) were more than
offset by the club’s commercial revenue
more than doubling from £37.2m to
£76m. This was the largest growth (104%)
in commercial revenue across all Money
League clubs.
3.6 (17)
2.2 (16)
2.3 (14)
0.3 (15)
0.4 (15)
Total
8.8m
0 20 40 60 80 100
2020 Revenue
€212m
(£185.9m)
2019 Revenue
€210.5m
(£185.5m)
0%

20. Deloitte Football Money League 2021
| Top 20 clubs
Olympique Lyonnais
18
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
160
0
198
164
26%
€47.6m
(£41.7m)
20%
€35.5m
(£31.1m)
54%
€97.6m
(£85.7m)
n/a n/a n/a
2019
221
17
2020
181
18
17
17
18
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
47,299
Yes No
On-pitch performance
League: 7th
UCL: S/F
Player transfer
income
€90.9m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
4.1 (16)
1.8 (17)
1.9 (16)
n/a
0.1 (19)
Total
7.9m
0 20 40 60 80 100
The club will hope a return of fans
and other events to stadia as well as
qualification for the 2021/22 Champions
League and an efficient resolution to
Ligue 1’s domestic broadcast rights
situation will improve its revenue
prospects.
2020 Revenue
€180.7m
(£158.5m)
2019 Revenue
€220.9m
(£194.6m)
(18%)

21. Deloitte Football Money League 2021
| Top 20 clubs
SSC Napoli
19
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
144
0
201 183
20%
€35.7m
(£31.3m)
8%
€13.2m
(£11.6m)
72%
€127.4m
(£111.7m)
n/a 19 n/a
2019
207
20
2020
176
19
20
15
20
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
28,276
Yes No
On-pitch performance
League: 7th
UCL: Round of 16
Player transfer
income
€122.9m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€176.3m
(£154.6m)
2019 Revenue
€207.4m
(£182.8m)
(15%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
4.6 (15)
2.6 (15)
1.7 (17)
0.3 (16)
0.2 (17)
Total
9.4m
0 20 40 60 80 100
The club also continues to prioritise
the internationalisation of its brand,
enhancing its social media presence by
becoming the sixth Serie A club to join
TikTok and focusing on growth of its social
media following across the globe.

22. Deloitte Football Money League 2021
| Top 20 clubs
Eintracht Frankfurt
20
*Attendance figure is the average home attendance
for league games played in the 2019/20 season
prior to the disruptions caused by COVID-19.
1,000
750
500
250
2017 2018
2016
95
0
105 128
26%
€44.4m
(£38.9m)
22%
€38.6m
(£33.9m)
52%
€91m
(£79.8m)
n/a n/a n/a
2019
182
n/a
2020
174
20
15
19
19
Annual revenue DFML position Matchday Broadcast Commercial
Women’s football Average league
attendance*
50,091
Yes No
On-pitch performance
League: 9th
UEL: Round of 16
Player transfer
income
€101.7m
Revenue 2016-2020 (€m) Revenue profile 2020 (€m) Total social media followers 2020 (m)
2020 Revenue
€174m
(£152.6m)
2019 Revenue
€182.2m
(£160.6m)
(5%)
Note: Figures in circles show top 20 ranking
per revenue stream.
Note: Figures in brackets show top 20 ranking per
social media account.
Commercial revenue grew €3m (7%) and
has increased by 60% in the last five
years growing from €27.9m in 2015/16 to
€44.4m in 2019/20, following a change in
the strategic direction of the club.
0.8 (20)
0.5 (20)
0.5 (20)
0.1 (19)
0.1 (20)
Total
2.0m
0 20 40 60 80 100

23. Deloitte Football Money League 2021
| Top 20 clubs
This publication has been written in general terms and we recommend that
you obtain professional advice before acting or refraining from action on any
of the contents of this publication. Deloitte LLP accepts no liability for any loss
occasioned to any person acting or refraining from action as a result of any
material in this publication.
Deloitte LLP is a limited liability partnership registered in England and Wales with
registered number OC303675 and its registered office at 1 New Street Square,
London EC4A 3HQ, United Kingdom.
Deloitte LLP is the United Kingdom affiliate of Deloitte NSE LLP, a member firm
of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee
(“DTTL”). DTTL and each of its member firms are legally separate and independent
entities. DTTL and Deloitte NSE LLP do not provide services to clients.
Please see www.deloitte.com/about to learn more about our global network of
member firms.
© 2021 Deloitte LLP. All rights reserved.
Graphic design: www.heliographic.co.uk