SourcesSourcesHow the numbers are built. Taxonomy v1 · KPI kpi-1.0 · normalization norm-1.0. Comparable panel 2020/21 to 2024/25. Review threshold 80% confidence.
A number is published only if it is printed on the cited page of a stored document, or read from a machine-readable XBRL or ESEF filing. Missing is shown as a dash with the reason, never as zero.
XBRL and ESEF filings win over PDF text, PDF text wins over OCR. When two sources hold the same line and agree, the second is kept as corroboration; when they disagree, a check is raised.
Every fact keeps its printed label, value, unit and currency. The EUR value sits in its own field.
Comparisons use one season for every club. A club's latest year is never set against another club's earlier year. 2025/26 joins the rankings once most clubs have reported it.
Each season comes from its own report. The prior-year column of the next report is stored separately and flagged when it differs.
A failed balance-sheet, cash or profit tie-out holds the lines involved back until a reviewer accepts it with a note.
Facts extracted with confidence below the review threshold wait in the review queue.
A line with no value is nil (printed as nil, stored as a sourced zero), not applicable (for example IFRS 16 leases under UK GAAP, so nothing is added to net debt) or not published, shown as a dash with the reason.
Revenue excludes player-registration sales. Profit on player disposals is its own line and is taken out of operating result and EBITDA.
| Measure | Formula |
|---|---|
| Revenue | Football operating revenue (matchday + broadcast + commercial + other). Excludes player-registration sales. |
| EBITDA | Operating result before player trading + player amortisation and impairment + other depreciation. Uses the club's printed EBITDA only when it already excludes player trading. |
| EBITDA margin | EBITDA ÷ revenue. |
| Operating result | Printed operating result (EBIT), less profit on player disposals when the club includes it. |
| Operating margin | Operating result before player trading ÷ revenue. |
| Net income | Profit or loss for the year after tax. |
| Net margin | Net income ÷ revenue. |
| Player trading | Profit or loss on disposal of player registrations (not gross transfer receipts). |
| Wages / revenue | Staff costs ÷ revenue. Not UEFA's squad-cost ratio. |
| Wages | Staff costs as printed: every employee, not only the players. |
| Player amortisation | Amortisation of player registrations: transfer fees spread over each contract. |
| Squad book value | Player registrations at net book value at year end. What the club paid, less amortisation; not market value. |
| Spent on players | Cash paid for player registrations in the year, from the cash flow statement, shown as a positive amount. |
| Received for players | Cash received for player registrations in the year, from the cash flow statement. |
| Net spend | Cash paid for players − cash received for players. Positive means the club paid out more than it took in. |
| Net debt | Interest-bearing borrowings − cash and cash equivalents. |
| Net debt incl. leases | Net debt + lease liabilities. |
| Net debt / EBITDA | Net debt ÷ EBITDA. NM when EBITDA is zero or negative. |
| Operating cash flow | Net cash from operating activities, as printed. |
| Free cash flow | Operating cash flow + investing cash flow (includes net player spending). |
| Cash conversion | Operating cash flow ÷ EBITDA. NM when EBITDA ≤ 0. |
| FCF conversion | Free cash flow ÷ EBITDA. NM when EBITDA ≤ 0. |
| EBITDA as the club reports it | The club's own printed EBITDA, with its own treatment of player trading. Not used in cross-club comparisons. |
| Operating result as printed | The printed operating result (EBIT), including player trading where the club includes it. |
| Cash | Cash and cash equivalents at period end. |
| Equity | Total equity at period end. |
| Total assets | Total assets at period end, as printed. |
| Total liabilities | Total liabilities at period end, as printed. |
| Borrowings | Interest-bearing borrowings at period end, as printed. |
Currency. EUR is the presentation currency. ECB euro reference rates, quoted as units of currency per euro, so EUR = local ÷ rate. Income statement and cash flow use the average of daily rates over the club's own fiscal year; the balance sheet uses the last rate on or before the year end. This is an analytical translation, not a restatement under IAS 21. Growth rates use the reporting currency so exchange-rate moves do not show up as growth.
Accounting bases. IFRS, UK GAAP (FRS 101/102), Spanish PGC and Italian OIC figures are mapped to one taxonomy without pretending the standards are the same. Each period shows its standard, perimeter and auditor. Club-defined measures (a club's own EBITDA or net debt) are kept with their wording; the comparable measures above use one definition for everyone.
Wages / revenue is staff costs over revenue. It is not UEFA's squad-cost ratio, which adds player amortisation and agent fees and adjusts the denominator.
| GBP fiscal year | Average | Closing | Days |
|---|---|---|---|
| 2020-06-01 to 2021-05-31 | 0.88989 | 0.86013 | 257 |
| 2020-07-01 to 2021-06-30 | 0.88646 | 0.85805 | 257 |
| 2020-08-01 to 2021-06-30 | 0.88467 | 0.85805 | 234 |
| 2021-06-01 to 2022-05-31 | 0.84717 | 0.85138 | 259 |
| 2021-07-01 to 2022-06-30 | 0.84708 | 0.85820 | 259 |
| 2022-06-01 to 2023-05-31 | 0.86947 | 0.86405 | 257 |
| 2022-07-01 to 2023-06-30 | 0.86955 | 0.85828 | 257 |
| 2023-06-01 to 2024-05-31 | 0.85993 | 0.85365 | 256 |
| 2023-06-01 to 2024-06-30 | 0.85895 | 0.84638 | 276 |
| 2023-07-01 to 2024-06-30 | 0.85898 | 0.84638 | 254 |
| 2024-06-01 to 2025-05-31 | 0.84023 | 0.84120 | 254 |
| 2024-07-01 to 2025-06-30 | 0.84053 | 0.85550 | 255 |
| 2025-07-01 to 2026-06-30 | 0.86900 | 0.86178 | 255 |
Club reports are linked, not copied: the site stores documents privately for checking and shows facts, short page excerpts and links. UK public-register material is used under the Open Government Licence v3.0. IFRS Standards are referred to by name only. Deloitte figures are shown as a cross-check, never as the audited record.