Deloitte point to financial reality of Newcastle United and Champions League opponents | OneFootball

When it comes to Newcastle United and their Champions League opponents in this league phase, the most recent 2025 Deloitte Football Money League gives us valuable pointers to the financial reality.

The football finance experts at Deloitte with their latest yearly overview of which clubs in the World generate the most money.

The report covers the 2023/24 season, with Deloitte showing the massive differences that exist between various clubs.

In the Swiss League format that was introduced as from last season in the Champions League, each club plays eight opponents in the league stage, four at home and four away.

Newcastle United were drawn to play Barcelona, Benfica, Athletic Bilbao and PSV at home, with Union S-G, Marseille, Bayer Leverkusen and PSG away.

So when it comes to comparing the finances, how do Newcastle United and their eight Champions League opponents measure up?

Here are the Deloitte top 30 (the top 20 in a table, then another one showing 21st to 30th) for the most up to date highest club revenues report.

In this Deloitte 2025 table, all figures are in millions of euros (€m). With the new position on left hand side (with last year’s Top 20 position in brackets) and then far right is where you will find the total revenue for each of the 20 top clubs, with the breakdown in between of Matchday, Broadcast and Commercial revenues:

Then these are the clubs in positions 21 to 30 in the new 2025 Deloitte Football Money League 2025:

In that most recent Deloitte 2025 report, I think we can take a lot from it, when it comes to competing in the Champions League and how the comparative finances stand.

This is how Newcastle United and their eight Champions League opponents rank, based on that most up to date available financial info:

€806m PSG

€760m Barcelona

€372m Newcastle United

€287m Marseille

€224m Benfica

As you can see, not even making the top 30 club revenues are Bayer Leverkusen, Union S-G, PSV and Athletic Bilbao.

This perfectly sums up the direction of travel when it comes to competing financially.

Newcastle United are of course trying to slowly but surely close that huge gap that exists to the likes of PSG and Barcelona, the usual half dozen Premier League suspects, plus a few others.

When you look the other way though, Newcastle United with their own huge financial advantage over their other half dozen Champions League opponents. Indeed, of the other six, only Marseille and Benfica rank in the top 30.

When this current season’s (2025/26) financial figures are revealed by Deloitte in the future (January 2027, last season’s 2024/25 turnovers will be published by Deloitte in January 2026), then I would absolutely predict that the gap will have stretched far far wider between Newcastle United and the likes of Marseille and Benfica.

The Premier League TV deals, especially thanks to the rocketing Overseas ones, are sending revenues through the roof for English teams, whilst those in the other European Leagues are stagnating. The domestic cash available in the likes of Portugal and France is minimal, whilst Germany, Italy and Spain are also falling way behind England. No wonder we see the desperate attempts by clubs in La Liga and Serie A to try and play league matches overseas, believing/dreaming that this will provide a pot of gold that would allow them better to compete financially with Premier League clubs.

As you can see in that most recent Deloitte report, not only are six Premier League clubs in the top ten, there are 14 PL clubs in total in the top 30.

In that 2023/24 season, Benfica finished second in their domestic league, played in the Champions League group stage, then got to the quarter-finals of the Europa League (and had crowds up to 62,000+), yet their financial turnover was basically the same as the likes of Palace, Everton, Fulham and Wolves, none of who did anything in the league that season (finished between 10th and 15th) and none of the four were in any European competition that season.

It seems only a matter of time before we could potentially have all 20 Premier League clubs making the top 30 turnovers in world football in any particular season.