European leagues lead the way in latest Deloitte report on women’s soccer revenue

The GIST: On Friday, Deloitte released its third annual Deloitte Football Money League report profiling 15 top revenue-generating women’s soccer clubs during the 2023–2024 season. Deloitte’s data included leagues throughout most of Europe, Brazil, and Japan, but didn’t include data from the U.S. or Australia.

• The findings reflect global growth in women’s soccer, especially in Europe, a market where UEFA has committed over $1B to grow the game. Let’s dive in.

💸 The women’s game is a moneymaker without the men. Total revenue among these 15 clubs reached $121.4M, marking 35% growth YoY. This figure removed group income, or any revenue contributed from the men’s side of football clubs, including club-wide commercial agreements and investments from men’s teams.

🌍 Spanish and UK clubs led the pack. Liga F club Barcelona — which boasts Ballon d’Or winners Aitana Bonmatí and Alexia Putellas — ranked first with $18.6M in revenue, a 26% increase from the 2022–23 season. WSL club Arsenal was second with $18.6M in revenue, seeing a 64% YoY boost in matchday revenue and a 48% YoY increase in commercial revenue.

• Fellow WSL franchises Chelsea and Manchester United ranked third ($13.9M) and fourth ($11.1M), while Liga F club Real Madrid rounded out the top five with $10.9M in revenue. Keepin’ it real.

🇬🇧 WSL clubs were top dogs in terms of commercialization and professionalization. Eight of the top 15 clubs were WSL teams, with major contributors to revenue including new broadcast deals, flexing games to larger stadiums for record attendance, and a renewed Barclays sponsorship that doubled in annual value.

👀 North America can learn from these teams’ success. And they should soon, with the WSL poaching elite American talent like Naomi Girma yesterday. The WSL also saw the biggest growth in 2023 global internet searches for sports leagues thanks to its position in a worldly UK market, proximity to the popular EPL, and exposure from its broadcast deals and stadium flexes. A winning combo.