Manchester United Women might sit seven points adrift of Women's Super League rivals Arsenal and Chelsea, but they sit at the summit of English women's football when it comes to revenue generation.
Marc Skinner's side slumped to a third league defeat this season, all but ruling the club out of this season's title race. But those United faithful can potentially find some semblance of solace in the club's superior revenue generation.
Indeed, the Red Devils recorded revenues of €8million (£7million) for the 2022/23 season, according to a new report from Deloitte's Football Money League which analysed 15 of the highest revenue-generating women's clubs in European football for the financial year ending in 2023, covering the 2022/23 season.
The findings excludes revenue contributions from associated men’s clubs. United retained its position as the second-highest grossing women's club in European football behind treble winners and European champions FC Barcelona Femení.
Jonatan Giráldez's side, who sit comfortably top of the Primera Division this season, reported a €13.4million (£11.6million) in revenue for the 2022/23 season - a year-on-year increase of 74 per cent. Behind United and Barcelona came Real Madrid, rising to third place as it reported €7.4million (£6.5million) in revenue, an increase of 416 per cent over previous year.
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Other English clubs who reached the top 15 included Manchester City Women, whose reported €5.3million (£4.6million) revenue generation ranks them fourth in Europe. Arsenal Women complete the top five with a revenue of €5.3million (£4.6million), which represents a staggering 138 per cent increase year-on-year.
Of the WSL's top four sides, Chelsea reported the smallest revenue generation of the financial year, coming in with €4.1million (£3.5million).
The report highlighted the significant diversity various revenue streams. For example, Manchester United's profits were driven by a strong commercial performance which accrued €6million (£5.1million) across last season. Altogether, commercial partnerships attested for 74 per cent of the club's revenue.
Chelsea reported the smallest revenue from the WSL's top four clubs (Photo by Mark Leech/Offside/Offside via Getty Images)Meanwhile, the Gunners achieved the highest matchday revenue amongst the 15 clubs with 58 per cent of its total revenue arriving via matchdays amounting to €3.1million. Across the 2022/23 season, the club hosted three league matches at Emirates Stadium, drawing attendances of over 40,000 for each, including the new league record of 59,042 who attended their 1-1 draw with reigning champions Chelsea.
Women's football across Europe has relished unprecedented and exponential growth in the last few years, a spike that was represented by the average revenue of the 15 clubs analysed which stood at €4.3m, a 61% increase over their 2021/22 average (€2.6m).
Within this, commercial revenue accounted for 58% of the 14 clubs’ total revenue, followed by matchday 22% per cent and broadcast 20 per cent. The WSL's current broadcast rights deal is worth £8million per year, in which matches are shared between Sky Sports and the BBC, and expires at the end of this season.
On the report, Amy Clarke, women’s sport lead in Deloitte’s Sports Business Group, said: “Women’s football is beginning to tell the tale of growth, but that growth is not confined by a single business model. Each club is exploring its own unique way to maximise revenues within the current structure of the game.
“Given that the women’s game within the mainstream is at a formative stage, there is a real opportunity to define the sport globally through innovative thinking across all aspects of the game, including player welfare, commercial relationships, governance and business models.”
The report arrives shortly after all 24 clubs in the first and second tiers of English women's football voted in favour for a takeover by NewCo. The takeover, set to take place at the end of the current season, ensures that an independent organization will run affairs rather than the Football Association in a move aimed at setting new standards in the game.
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