Real Madrid have made history by becoming the first football club to surpass €1 billion (£844 million) in revenue in a single season, consolidating their dominance in European football both on and off the pitch.
The Spanish giants generated €1,046m (£883m) in the 2023-24 season, according to Deloitte Football Money League Report. The increase in the club's income was largely due to the refurbishment of the Santiago Bernabéu Stadium, whose match day income doubled to €248 million following the completion of the renovations.
Additionally, Real Madrid saw a 19 percent increase in commercial revenue through new sponsorship deals and increased merchandise sales. On the field, the team's treble campaign (including victories in the Champions League, La Liga and Spanish Super Cup) further underlined its status as a global power.
“One billion euros in revenue is a milestone in club football,” said Theo Ajadi, deputy director of Deloitte's Sports Business Group. 'The remodeling of the Madrid stadium has been the catalyst for the club's growth.
'They have licensed some seats, which has provided a significant increase in revenue, and has also increased marketing and brought in new sponsorships. That, along with good performance on the field, has led to Madrid's solid financial performance.”
Behind Madrid, Manchester City came second with €838m (£708m) in revenue, while Paris Saint-Germain came third with €806m (£681m). Manchester United and Bayern Munich completed the top five, earning €771m (£651m) and €660m (£557m) respectively.
Real Madrid have made history by becoming the first football club to surpass €1 billion (£844m) in revenue during a single season, according to reports.
Real Madrid has seen a 19 percent increase in commercial revenue thanks to new sponsorship deals and increased merchandise sales.
The current income gap between Real Madrid and Premier League giants Manchester City is the largest ever recorded in the 28 years that Deloitte has compiled its annual list.
The current income gap between Real Madrid and Premier League giants Manchester City is the largest ever recorded in the 28 years that Deloitte has compiled its annual list.
Across Europe, clubs collectively earned record revenues of €11.2bn (£9.46bn), a 6 per cent increase on the previous season. The Premier League continued its financial dominance, with nine of its clubs in the top 20.
Arsenal, Liverpool and Tottenham Hotspur ranked seventh, eighth and ninth respectively, while Chelsea closed out the top 10. Clubs such as Newcastle, West Ham and Aston Villa also featured prominently, reflecting the league's unrivaled broadcast revenue. league.
“The Premier League still dominates the money table and that is because of such a big gap between the media rights it is able to generate,” Ajadi said. “It is the most watched league of the big five and that drives spending to obtain good results in Europe.”
Meanwhile, women's football also reached new heights, with Barcelona topping the revenue list for the third year in a row. The Catalan club generated €17.93m (£15m) in revenue, a 26 per cent increase on the previous season. Arsenal were close behind with €17.88 million, while Chelsea, Manchester United and Real Madrid completed the top five.
“The women's football sector continues to grow from strength to strength, with revenues up 35 per cent this year among the top 15 clubs,” Ajadi added. “We are seeing more clubs hosting matches at their main stadiums and attracting new audiences, providing significant growth potential.”
The report also noted a resurgence in match day revenue, which accounted for 18 per cent of clubs' total revenue, its highest share since the 2014-15 season. Clubs such as Arsenal and Liverpool saw notable increases in matchday earnings, increasing by £21 million and £24 million respectively. Meanwhile, others, such as Tottenham, saw a £9m drop due to the lack of European football.
As European football clubs continue to recover from the financial impact of the pandemic, Real Madrid's historic achievement underlines the importance of strategic investments and on-field success to drive sustainable growth.