Deloitte's annual report on football finances reveals that European game revenues surpassed €40 billion ($46 billion) for the first time in the 2024-2025 season. However, growth is showing signs of slowing.

Football across the continent generated revenues of €40.2 billion in the season ending mid-2025, compared to €38 billion the previous year.

The five major European leagues—the English Premier League, and the top divisions in Germany, Spain, Italy, and France—generated €21.6 billion.

Deloitte analysts said increasing the number of matches in an already packed schedule may not be the solution (Reuters).

But Deloitte analysts said increasing the number of matches in an already packed schedule may not be the solution, as total club revenues are expected to stabilize or even decline in the 2025-2026 and 2026-2027 seasons.

Tim Bridge, lead partner in Deloitte's Sports Business Group, said: 'The expansion of UEFA and FIFA competitions has brought financial benefits across the top five European leagues, but football cannot rely on simply adding more content to achieve sustainable growth.'

An increasingly saturated market may not be good for players or fans, especially if it dilutes the excitement on the pitch. 'This approach, without a collective mindset from all stakeholders, risks prioritizing short-term gains over long-term prosperity.'

The English Premier League remained the highest-earning league in Europe; its clubs generated revenues of £6.8 billion ($9.1 billion), an increase of 8% which is expected to push it past £7 billion in the 2025-2026 season.

The firm wrote: 'Revenues increased thanks to a rise in the number of clubs reaching the final stages of continental competitions, higher ticket prices, and increased stadium capacity.'

In La Liga, Real Madrid and Barcelona accounted for 52% of total club revenues (Reuters).

However, the financial picture was mixed; pre-tax losses increased from £135 million to £948 million, driven by heavy spending on transfers and the absence of profitable player sales that had softened the previous year's results.

Among other major European leagues, the German Bundesliga surpassed the €4 billion mark for the first time, recording 12% growth, while La Liga posted revenues of €4.1 billion, with Real Madrid and Barcelona accounting for 52% of total club revenues.

Serie A posted a modest 4% increase to €3 billion, but Ligue 1 fell by 15% to €2.2 billion, with commercial revenues declining by €0.4 billion.