Top 25 European Clubs by Wage Expenditure in 2025

According to the latest UEFA club finance and investment report, European football’s collective wage bill saw a 5.9% increase in 2025. With twelve of the continent’s top 25 employers hitting record-high salary spending, the figures highlight the ongoing pressure on club balance sheets as performance-related bonuses continue to drive annual fluctuations.

The Wage Bill Leaders

Manchester City currently sits at the top of the financial hierarchy, recording a total wage expenditure of €557 million. The gap at the top remains razor-thin, with FC Barcelona and Paris Saint-Germain following closely at €551 million each.

Notably, PSG recorded the most significant decline in the top tier, cutting its wage bill by 16% compared to 2024 as part of a strategic squad restructuring. Meanwhile, the top five is rounded out by Real Madrid (€514 million) and Liverpool FC (€509 million).

Sustainability Concerns

The UEFA report underscores the sustainability risks associated with high wage-to-revenue ratios. A prime example is Olympique Lyonnais, which ranks 24th on the list with €178 million in wages. The report notes that Lyon’s salary commitments represent 110% of their total revenue (excluding transfer market activity), a figure that has historically complicated the club’s interactions with French financial regulator, the DNCG.

2025 Wage Expenditure Table