Football has always been about money, but some clubs seem to have discovered a rather different way of generating it.
Figures comparing revenue growth among Europe’s biggest clubs make for interesting reading, particularly when you look at the numbers following Qatar’s takeover of Paris Saint-Germain.
The reported increases are staggering:
● Paris Saint-Germain: +301%
● Manchester City: +86%
● Liverpool: +18%
● Manchester United: +15%
● Real Madrid: +8%
Look at that difference. PSG’s reported growth is in a completely different league, even compared with Manchester City.
And it raises an obvious question: how exactly do some clubs manage to attract such extraordinary commercial opportunities?
PSG’s commercial transformation is remarkable
When Qatar Sports Investments took control of PSG in 2011, the club was nowhere near the financial powerhouse it has become.
The transformation has been enormous.
PSG have attracted major international brands, expanded their global profile and turned themselves into one of the most commercially powerful names in football.
Their relationship with Jordan Brand is a particularly good example of how the club has moved beyond traditional football sponsorship and into fashion and lifestyle marketing.
The financial figures are now extraordinary. PSG reported record revenue of €837 million for the 2024/25 season, including €367 million from commercial activities.
That is some business operation.
Of course, PSG have also enjoyed huge success on the pitch, winning their first Champions League in 2025, which has helped drive their worldwide appeal.
But the scale of their commercial growth is still remarkable.
Manchester City have followed a similar path
Manchester City’s reported 86% growth is another huge increase.
Since the Abu Dhabi takeover in 2008, City have transformed themselves from a club that had not won a league title for decades into one of the dominant forces in European football.
Their commercial partnerships, global profile and success on the pitch have helped them build a financial operation capable of competing with the biggest clubs in the world.
But this is where football’s financial landscape becomes increasingly difficult to ignore.
Clubs with enormously wealthy state-linked ownership have access to commercial opportunities and financial backing that traditional clubs cannot simply replicate.
It is one thing to build a successful football team. It is another to have the financial muscle to transform an entire global brand.
Liverpool’s growth is impressive, but the gap is frustrating
Liverpool’s reported 18% growth is respectable, and the club have certainly built an enormous global following without the same ownership model as PSG or Manchester City.
In fact, Deloitte’s latest Football Money League figures show Liverpool generated €836 million in revenue during 2024/25, making them the highest revenue-generating English club for the first time.
That is a significant achievement.
However, I still believe Liverpool need to be more ambitious commercially.
We are one of the biggest football clubs in the world, with a massive international fanbase, an iconic stadium and a history that most clubs can only dream about.
There is no reason why Liverpool shouldn’t be competing at the very top financially.
The club have made progress, but supporters want to see that financial strength reflected in the squad as well. We cannot keep watching rivals spend heavily while Liverpool are expected to find clever solutions in the transfer market.
Funny how the sponsorship money keeps appearing!
The figures are certainly food for thought.
I’m not suggesting every sponsorship deal involving PSG or Manchester City is automatically questionable. Clubs are entitled to attract commercial partners and grow their businesses.
But when you see the scale of the increases, it is fair to ask questions about the wider financial landscape of modern football.
Traditional clubs have spent generations building their reputations, supporter bases and commercial appeal. Yet state-backed ownership has changed the game, giving certain clubs extraordinary resources to accelerate that process.
And that’s the part I find difficult to ignore.
Liverpool must continue to grow commercially, but football needs a financial system where success is not simply determined by who has the wealthiest backers or the most lucrative sponsorship connections.
By Jamie (The Kopite View)
PSG and City are laughing at the rest of European clubs. Phoney ‘sponsorships’ have been allowed and every other European club is disadvantaged. UEFA and the affected FAs need to address this before their competitions become meaningless.