A report that highlighted the 20 highest revenue-generating football clubs in the 2005/06 season makes for interesting reading, two decades on.

This week, the 29th edition of the Deloitte Football Money League was published, with Spanish giants Real Madrid retaining top spot with revenues close to €1.2bn.

In fact, such is their global appeal, the club's commercial revenue alone (€594m) would rank them in the overall top 10.

Barcelona were second, moving back into the top three for the first time since 2019/20 after generating €975m, while Bayern Munich (€861m) and Champions League winners Paris Saint-Germain (€837m) made up the top four.

Premier League winners Liverpool, meanwhile, emerged as the highest revenue-generating English club for the first time in Money League history, generating an impressive €836.1m in revenue to place fifth.

Liverpool are currently the highest revenue-generating English club. Image credit: Getty

Unsurprisingly, Manchester United fell to its lowest-ever position, dropping from fourth to eighth with a revenue of €793m after the club's broadcast revenue fell as a result of no Champions League football and a 15th-place finish domestically.

Overall, there are six Premier League clubs in the top 10 – including Manchester City, who dropped from second place to sixth with an overall revenue of €829m. Arsenal are seventh (€821m), Tottenham come in eighth (€672m), and Chelsea are 10th (€584m).

Three other English teams feature in the top 20, including Aston Villa, who are 14th with an overall revenue of €450m, while Newcastle sit 17th with €398m and West Ham generated €276m and are in 20th position.

The 29th edition of the Deloitte Football Money League for 2026. Image credit: Deloitte

How did the Deloitte Football Money League look in 2006?

Looking back, there are some noticeable changes to the Money League in 2005/06, although Real Madrid retained the number one spot with revenues of €292.2m, as David Beckham was branded the club's most marketable player.

Barcelona also placed second in the list following their Champions League success, with club revenues increasing by 25 per cent to reach €259.1m.

Juventus, who were 16th in the 2026 Money League standings, made up the top three in 2006 following a 10 per cent increase in revenue to €251.2m, although they soon dropped down the list after being relegated to Serie B following the ‘Calciopoli’ scandal.

Manchester United were the highest revenue-generating English club in fourth (€242.6m) and were described by Deloitte as being "the most profitable football club operation in the world."

The teams that made up the top 10 were AC Milan, Chelsea, Inter Milan, Bayern Munich, Arsenal and Liverpool, but more interestingly, several less high-profile clubs in 2026 made up the list from 20 years ago.

As seen in the graphic below, Lyon's overall revenue increased by 31 per cent to a record €127.7m as they moved up to 11th, while Roma, Schalke and Rangers feature alongside Hamburg, who spent seven years in Germany's second tier before achieving promotion last season.

The Deloitte Football Money League from 2005/06.