After just one year, Real Madrid has regained its throne as the club with the highest company value, overtaking Manchester City and becoming the first soccer club to exceed five billion euros in value, according to the annual ranking of the 32 most valuable soccer clubs in Europe by Football Benchmark, an economic data platform and partner of MARCA.

Real Madrid has a value of 5,097 million euros, surpassing the two Manchester clubs, Manchester City (4,933 million) and Manchester United (4,861). Surprisingly, all the clubs in the top 10 now have an added value in excess of 3 billion, which undoubtedly demonstrates the solid growth trajectory of the sector.

Although the composition of the top 10 has not changed, the order of the clubs has been rearranged. In addition to the changes at the top of the podium, Bayern Munich overtook Liverpool as the fourth most valuable club. Chelsea dropped two places to ninth, to Tottenham Hotspur, who are now seventh, and Paris Saint-Germain remained stable in eighth place.

Among the Spanish clubs, in addition to Real Madrid and Barcelona , Atletico Madrid is in thirteenth position, although it is the only one of the top 16, along with Juventus, whose company value has fallen (by 8%).

The same happens to Villarreal (30th place), whose failure to participate in the current edition of the Champions League has harmed it compared to the previous year, causing it to lose 12%.

Sevilla (20th place) grew by 15% to 647 million, while Real Sociedad, which closes the list, became a new member.

The aggregate Enterprise Value of the top 32 clubs reached 59.1 billion, a growth of 124% since 2016, and an increase of 14% over the previous year.

The year-on-year growth is driven by three key factors: the increase in revenue multiples seen in the market, a substantial increase in operating income - driven by growth in commercial and post-COVID matchday revenues - and improved financial sustainability across the board.

Milan, the fastest-growing

Compared to the results of the previous edition, 24 clubs improved their EV, while six experienced a decrease.

AC Milan (+35.5%) achieved the highest year-on-year growth for the third consecutive edition, closely followed by Arsenal (+35.1%). Benfica (+28.7%), Napoli (+28.3%) and Real Madrid (+27.2%) rounded out the Top 5.

On the other hand, Atalanta (-18.9%) suffered the biggest decline, mainly due to their absence from UEFA competitions in the 2022/23 season. Although they did win the 2023/24 Europa League, so things will improve for the Bergamaschi. Their return to the UEFA Champions League will help, as will their solid financial results.

The other club that lost value, in addition to those already mentioned, was Lyon.