Real Madrid stayed atop football’s rich list as Liverpool outstripped their English rivals for the first time, according to Deloitte’s Money League study on Thursday. 

Spanish giants Madrid generated nearly €1.2 billion (approximately Rs 12,877cr) in revenue in the 2024-25 season despite failing to win a major trophy. The refurbishment of the club’s Santiago Bernabeu stadium into a multi-purpose venue continues to pay rich dividends.