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Europe fights back against Premier League’s financial dominance

Manchester United's Portuguese midfielder #08 Bruno Fernandes reacts to a missed chance during the English Premier League football match between Manchester United and Tottenham Hotspur at Old Trafford in Manchester, north west England, on January 14, 2024. (Photo by Darren Staples / AFP) / RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 120 images. An additional 40 images may be used in extra time. No video emulation. Social media in-match use limited to 120 images. An additional 40 images may be used in extra time. No use in betting publications, games or single club/league/player publications. /  (Photo by DARREN STAPLES/AFP via Getty Images)

Real Madrid knocking Manchester City off the top of Deloitte’s Football Money League is part of a wider trend of continental Europe fighting back against Premier League dominance.

Although English clubs still make up six of the top 10, four of those fell down the rankings relating to last season, including Manchester United and Liverpool.

And having comprised 11 of the top 20 last year, the Premier League now accounts for just eight of the top 20 after Leicester City, Leeds United and Everton all dropped out.

By contrast, Paris Saint-Germain scaled new heights, Barcelona leapt back into the top four and Eintracht Frankfurt, Napoli and Marseille re-entered the Football Money League.

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This resurgence could be seen as weakening the argument for a European Super League, driven in part by clubs from the mainland fearing they are being left behind.

While Real Madrid, PSG and Barcelona all benefited from better commercial performance, those lower down were boosted by on-field success, with Napoli winning the Italian league and both Eintracht Frankfurt and Marseille playing in the Champions League.

“We’ve seen this year, at the top of the table and then in 11th to 20th position, European clubs pulling back against the Premier League,” said Chris Wood, assistant director in Deloitte’s Sports Business Group.

“What we have seen is around the effects of on-pitch performance, with broadcast [contracts] largely being in cycle [remaining uncharged], and the effects of success in European competition.”

Some of the biggest European teams may have gained ground but Premier League clubs still have a major advantage over most of their peers on the mainland.

Broadcast contracts in the English top flight are worth at least £100m a year per club and expected to rise when new even more lucrative deals take effect next year.

Premier League clubs Liverpool and Man Utd have been overtaken by Paris Saint-Germain in Deloitte's Football Money League
Premier League clubs Liverpool and Man Utd have been overtaken by Paris Saint-Germain in Deloitte’s Football Money League