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

While Deloitte’s figures show strong numbers for the most successful clubs, Haskel did note less impressive growth for the clubs lower down the list.

The eight WSL clubs from last season remain in the top 15, but all bar Manchester City experienced slower growth than both Arsenal and Chelsea in 2025.

Indeed, the revenue produced by the top three clubs alone make up 46% of the entire 15, with Everton actually making less than they managed in 2024.

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

Similarly, while the fact 13 of the top 15 clubs from 2024 feature in this list demonstrates the teams are performing well to maintain their position, could it also hint at a lack of competition beyond those at the pinnacle of the women’s game?

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

Part of their success can be attributed to winning the inaugural World Sevens Football tournament last May, where they competed alongside Manchester City, Manchester United and Paris St-Germain – a new inclusion on this year’s list.

Haskel said such tournaments are vital innovations in the push to further grow the women’s game as revenues from commercial ventures make up almost three quarters of all growth figures (72%).

“The shift from start-up phase to established phase in women’s football requires consistent time, investment and effort,” she said.

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