Arsenal & Chelsea top Deloitte money league for women’s football

While Deloitte’s figures show strong numbers for the top-performing clubs, Haskel noted less impressive growth for clubs lower down the list.

All eight WSL clubs from last season remain in the top 15, but all except Manchester City have grown more slowly than Arsenal and Chelsea in 2025.

Indeed, the revenue generated by the top three clubs alone represents 46% of all 15, with Everton actually earning less than it generated in 2024.

“As average earnings reach a new high, a significant gap is forming between the top-ranked clubs and the rest of the pack,” Haskel said.

Likewise, while the fact that 13 of the top 15 clubs of 2024 are in this list demonstrates that teams are doing well to maintain their position, could it also suggest a lack of competition beyond those at the top of the women’s game?

The biggest riser on the list is European powerhouse Bayern Munich, whose revenue has doubled from £3m in 2024 to £6m in 2025.

Part of their success can be attributed to their victory at the world’s first sevens tournament last May, where they competed alongside Manchester City, Manchester United and Paris St-Germain – a new entry on this year’s list.

Haskel said such tournaments are vital innovations in the drive to further develop women’s football, as revenue from commercial businesses accounts for almost three-quarters of all growth figures (72%).

“Moving from a start-up to an established phase in women’s football requires time, investment and constant effort,” she said.

“As more milestones are reached, including new and expanded competitions on the biggest stages, industry leaders must continue to innovate.”