Manchester City, who won the Premier League, Champions League and FA Cup last season, fall to second place in the 2024 rankings. French champions Paris Saint-Germain broke into the top three for the first time, with revenues of €802 million. Commercial revenue represented the largest income stream for ‘Money League’ clubs for the first time since the 2015-16 season, excluding the COVID-19 impacted 2019-20 season. Tim Bridge, lead partner in financial experts Deloitte’s Sports Business Group, said: “Another record-breaking year for Money League clubs represents the ongoing financial might of the football industry. Deloitte attributed that fall to the Reds’ on-field performance, with the club finishing fifth in the Premier League last season and bowing out in the Champions League last 16.