For the first time ever, the combined revenue of top women’s football clubs in key markets has exceeded €100 million, reaching €116.6 million in the 2023-24 season. This significant increase, as reported by Deloitte, represents a 35% year-on-year growth, highlighting the continuous advancement of women's football in both professionalism and commercialization.

FC Barcelona retains its position at the top for the third consecutive season, generating €17.9 million, which marks a 26% rise from the previous season. Arsenal follows in second place with the same revenue, buoyed by a 64% increase in ticket sales and a 48% boost in sponsorships. The top five also features Chelsea (€13.4 million), Manchester United (€10.7 million), and Real Madrid (€10.5 million).

The study, covering markets including England, France, Germany, Italy, Spain, Portugal, Norway, Brazil, and Japan, underscores that English clubs are leading the commercialization of women's football, with eight out of the 15 top clubs being part of the Women’s Super League (WSL). A key factor is the renewal of Barclays' sponsorship, now worth £15 million per year (approximately €17.7 million), providing a strong foundation for the continued growth of clubs in the UK.

The UEFA Women’s Champions League plays a pivotal role in driving revenue, particularly among the seven non-English clubs in the top 15, all of which participated in the group stages. Commercial revenues account for 66% of the total, followed by ticketing and broadcasting, each contributing 17%.

Rising stadium attendance has also fueled commercial and broadcast interest. In the 2023-24 season, the WSL and Women’s Championship reached a milestone, surpassing one million spectators for the first time. Matches played in larger venues, such as the six WSL games at the Emirates Stadium, contributed to setting new attendance records.

This trajectory suggests a bright future for women’s football. Tim Bridge from Deloitte’s Sports Business Group stresses the importance of combining more competitions and matches with sustained investment and fresh governance structures to continue driving growth. At the same time, Jennifer Haskel highlights that the women's game is creating new opportunities by embracing differences from the men’s model, setting the stage for sustainable growth and greater recognition of the sport.