Man Utd overtaken by Liverpool and Arsenal in Money League for first time

On Jan 22, 2026

Manchester United fell behind Liverpool and Arsenal for the first time in the Deloitte Football Money League.

In the latest sign of long-term malaise under the Glazers, Sir Jim Ratcliffe and Ineos, United’s worst Premier League season saw them drop out of football’s top five revenue-generating clubs and plummet to an unprecedented eighth place, according to data released by the Big Four accounting firm.

They also fell out of England’s top three teams as Manchester City remained above them after last season’s nightmare campaign, in which they finished the Premier League in 15th position and lost the Europa League final to Tottenham Hotspur.

Manchester United co-owner Sir Jim Ratcliffe (left), chief executive Omar Berrada (centre) and technical director Jason Wilcox — Under the co-ownership of Sir Jim Ratcliffe (left), the club oversaw a series of staff layoffs and cost cuts – Getty Images/Chris Brunskill

United, who have topped the annual Money League 10 times previously, brought in a record £666.5m (€793.1m) in 2024-25 according to the club’s accounts, but their finish in the bottom half of the Premier League has cost them dearly.

And it could be even worse for the club next year after failing to qualify for the Champions League in successive seasons for the first time since the days of the old European Cup.

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Under Glazers’ ownership, United have risen to the top of the table and most recently reached the summit in 2017. But a decline in results and performances – winning just one FA Cup and League Cup in the last eight seasons – has seen the club gradually plummet down the Money League table.

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Since Ratcliffe took control of football operations in February 2024, the club has overseen a series of staff layoffs and cost cuts under the British billionaire’s “zero-based budget” policy, intended to reduce spending. But performances still need to improve on the pitch, with head coach Ruben Amorim sacked earlier this month and United currently positioned outside the top four in their efforts to seal a return to Europe.

The Money League also chastised the Premier League, which had no teams in the top four for the first time since Deloitte began measuring its revenues almost three decades ago.

In another first, champions Liverpool became the highest-ranked English team with a record turnover of £702.3 million (€836.1 million), followed by City on £694.1 million (€829.3 million) and Arsenal on £690.2 million (€821.7 million).

Liverpool fell from eighth place last year to fifth overall, City fell from second to sixth, while Arsenal remained seventh.