Manchester United have slumped to eighth in the Deloitte Football Money League, their lowest-ever position. Once top of the rankings in 10 of 29 editions, United now trail behind Liverpool, Man City, and Arsenal in English earnings.

The drop stems from reduced broadcast revenues and a lack of European competition. Without Champions League participation in 2024-25, matchday income has also suffered, with only 20 Old Trafford fixtures set for 2025-26.

Real Madrid lead the list with over €1bn in revenue, driven by deep Champions League runs and expanded global events. Barcelona, Bayern Munich, and PSG also rank higher, benefiting from similar off-field growth and new broadcast deals.

Tim Bridge of Deloitte suggests United still possess the global brand strength but must modernize facilities and fan engagement. A proposed new stadium may signal the start of that transformation, albeit behind peers like Real and Barca.