Women’s Super League Club Revenues Soar
Women’s Super League (WSL) club aggregate revenues grew by 34% in the 2023/24 season to £65m, up from £48m in 2022/23, according to new analysis from the Deloitte Sports Business Group.
An increase in both commercial and matchday revenues contributed to every WSL club achieving a double digit increase in total revenue during the 2023/24 season, with average revenues for WSL clubs rising to £5.4m, up from £4.0m in the 2022/23 season.
Commercial revenue continued to be a significant driver of revenue growth across the league, increasing by 53% in the 2023/24 season, to make-up 40% of WSL clubs’ total revenue.
Matchday revenue rose by 73% to £12m, up from £7m in 2022/23, driven by a 31% increase in average attendance and increases in stadium utilisation and fan engagement.
Elsewhere, broadcast revenue increased by 40% in 2023/24 to £10m, representing 16% of total revenue for WSL clubs, largely derived from central distributions to clubs from the league, The Football Association and UEFA.
Deloitte predicts that WSL clubs’ total revenue will reach £100m in the 2025/26 season, following the upcoming UEFA Women’s EUROs.
Jennifer Haskel, knowledge and insights lead in the Deloitte Sports Business Group, said: “Through developing more robust fan engagement strategies, strong commercial deals and securing central distributions, WSL clubs unlocked a new phase of growth in the 2023/24 season.
“Plus, as the reporting and attribution of commercial revenue remains inconsistent between clubs, we may be scratching the surface on the value now being generated by the women’s game.
“The high-profile investment and innovative brand partnerships announced in recent months demonstrate the value gained when women’s teams are treated as distinct entities with a focus on driving specific initiatives tailored to the fans and commercial partners alike.
“This mindset must be maintained for the future growth of the women’s game, or we risk missing a generational opportunity in this sport.”
While growth was seen across the league, revenue uplift was largely driven by the top four revenue-generating clubs: Arsenal (£15.3m), Chelsea (£11.5m), Manchester United (£9.2m), and Manchester City (£6.6m). These clubs generated two thirds of the total revenue of the 12 WSL clubs.
However, while the absolute gap in revenues between the highest and lowest-earning clubs widened (from £10.3m to £14.1m), the relative distance between them reduced (from 16x to 13x).
Manchester United (£5.0m), Manchester City (£4.7m) and Aston Villa (£4.2m) each recorded commercial revenues above the £4m threshold in the 2023/24 season, a feat only recorded by one club in the previous season.
Meanwhile, Arsenal generated significant matchday revenue (£4.4m, a rise of 62% on the previous season), with Chelsea (£2.7m), Manchester United (£1.9m), and Manchester City (£1m) also reporting matchday revenue above £1m.
Arsenal also set a new attendance record in the 2023/24 season with an average of 29,999 spectators.
However, overall attendances across the league dropped by 10% in the 2024/25 season to an average of 6,642, likely due to a lack of international football drawing attention domestically, paired with the relegation of clubs with large attendances.
Tim Bridge, lead partner in the Deloitte Sports Business Group, said: “For long-term growth to take place, competitive balance is a key priority. With the gap widening between the highest and lowest-earning clubs within the league, there’s a risk that this will lessen the jeopardy on pitch and the attention of fans.
“Sealing investment and commercial deals across the league, alongside implementing cost control interventions, may counter this to promote long-term stability across the pyramid.”
