Arsenal are now rivalling Barcelona as the richest women’s football team in world football, according to new analysis by Deloitte.
The all-conquering Catalan club remain No1 in the business advisory firm’s ranking of the biggest women’s teams by revenue generated.
But Arsenal are a very close second, having also recorded revenue of €17.9m (£15.1m) for the 2023-24 season.
Chelsea (€13.4m/£11.3m) are third on the list, ahead of Manchester United (€10.7m/£9m) and Real Madrid (€10.5m/£8.9m).
The figures include income from sponsors and other commercial deals, media rights and matchday takings but not any contributions attributable to the wider club or men’s team.
Total revenues of the top 15 women’s teams grew 35 per cent year on year and surpassed €100m for the first time, reaching €116.6m/£99m).
“The 35 per cent growth in revenues across the 2023-24 season is an impressive reflection of the growth of women’s football across some of its leading markets,” said Tim Bridge, lead partner for the Deloitte Sports Business Group.
“Investors and leaders are now looking beyond just revenues and increasing their focus towards the sustainability and growth of clubs.
“Commercial partners and broadcasters are now recognising the growing profile of the women’s game and increasing their investment, in turn attracting greater and more diverse audiences in new addressable markets.”
The continued growth of the Women’s Super League means that eight of the top 15 teams are English, with Manchester City, Aston Villa, Liverpool, Tottenham Hotspur and Everton also included.
The WSL has the most lucrative domestic media rights deal in women’s football and has agreed an even bigger contract renewal with broadcasters which will take effect next season.
Commercial revenue made up by far the biggest portion of top teams’ income, at an average of 66 per cent, with broadcast and matchday making up 17 per cent each.
Arsenal have been pioneers in promoting their women’s team, who now play the majority of their home matches at the 60,000-capacity Emirates Stadium.
Despite failing to win the Women’s Super League or progress in Europe, Arsenal’s matchday income of €5.1m (£4.3m) was the most of any club and increased 64 per cent year on year.
Deloitte said it expected the women’s football market to continue its upward trajectory as competitions such as the Women’s Champions League and Women’s World Cup expand.
“Pairing this with developing existing competitions, the introduction of new governance, and further investment can supercharge the participation in, professionalisation, and popularity of the women’s game for the long-term,” added Bridge.
