Arsenal have overtaken Chelsea to become the highest-earning women’s football club in Europe, according to Deloitte’s latest revenue rankings.
The shift highlights the rapid commercial growth of the Women’s Super League, with English clubs continuing to set the pace for financial development in the women’s game.
The report shows Arsenal generated £22.2 million in revenue over the most recent financial year, narrowly ahead of Chelsea’s £21.3m.
Arsenal’s rise was driven primarily by matchday income of £6.1m, the highest recorded by any women’s club, reflecting their regular use of the Emirates Stadium and consistently strong attendances exceeding 35,000.
Chelsea are the strongest club commercially, with £16m generated through sponsorships and partnerships.
While they dropped to second in the overall rankings, their commercial performance highlights the depth of financial power within the WSL’s leading clubs.
Overall, the Deloitte analysis points to a 35% year-on-year rise in revenue across the top 15 women’s clubs, with average income now above £8.5m per team.
English clubs dominate the list, with Arsenal, Chelsea, Manchester City and Manchester United each earning more than double the revenue of most rivals from other leagues.
The report also notes a widening financial gap between elite clubs and the rest, driven by differences in commercial strategy, brand recognition and access to large stadiums.
Commercial income accounts for close to three-quarters of total revenue across the rankings, though matchday income also rose by 15% overall, despite some clubs experiencing slight attendance dips.
The WSL’s off-field growth mirrors its expanding global profile, supported by increased broadcast exposure and record crowds at headline fixtures.
Deloitte cautions that the rankings exclude leagues such as the United States’ NWSL, as well as Australia and Sweden, due to data limitations, but says the figures still demonstrate England’s leadership in the commercial development of women’s football.
With the domestic title race remaining competitive and fan interest continuing to rise, the latest revenue figures underline the WSL’s role as the benchmark league for financial growth in the women’s game.
