Real Madrid Becomes First Football Club to Surpass €1 Billion in Revenue

Real Madrid's revenue has soared to €1.05 billion, but the club faces challenges, including complaints over noise pollution and temporary suspension of concerts at the Santiago Bernabeu stadium.

Real Madrid has become the first football club to surpass €1 billion in revenue during a single season, according to Deloitte's latest Football Money League report. The Spanish giants' unprecedented financial achievement can be attributed to the significant revenue generated by their revamped Santiago Bernabeu stadium.

The top three positions in Deloitte's annual ranking remained unchanged, with Real Madrid (€1.05 billion) leading the way, followed by Premier League champions Manchester City (€838 million) and Paris Saint-Germain (€806 million). Notably, the €208 million gap between Real Madrid and Manchester City is the largest ever recorded by Deloitte.

The extensive refurbishment of the Santiago Bernabeu stadium has paid off, with matchday revenues doubling to €248 million in the 2023/24 campaign. Real Madrid invested heavily in the renovation project, taking out loans totaling over €1 billion since 2018. The revamped stadium boasts cutting-edge amenities, including an undulating metal roof, expanded VIP areas, and a retractable pitch.

The Santiago Bernabeu stadium has also become a premier venue for high-profile events, hosting concerts by renowned artists like Taylor Swift and upcoming events like the NFL's first game in Spain. The stadium's transformation has not only enhanced the fan experience but also significantly boosted Real Madrid's revenue streams.

✅ @Lucasvazquez91 ✅ pic.twitter.com/kug4Hi8o9k

— Real Madrid C.F. 🇬🇧🇺🇸 (@realmadriden) January 23, 2025

Despite Real Madrid's record-breaking revenue, the club's aim to utilize the Santiago Bernabeu stadium as a revenue-generating hub has faced obstacles. Complaints over noise pollution from residents have led to the temporary suspension of concerts at the stadium. However, according to Tim Bridge, lead partner in the Deloitte Sports Business Group, this trend is not unique to Real Madrid. “Club stadia are increasingly being valued as more than just matchday assets, with a number of clubs converting their grounds into multi-use entertainment venues that attract new visitors, sponsors, and retail opportunities.”

Bridge emphasized the evolving nature of football clubs, stating, “Football clubs are now realising the value of becoming far more than sporting brands, with media and entertainment becoming intertwined with the commercial potential that they have to offer.” This shift is reflected in the revenue streams of the top 20 Money League clubs, with commercial revenue remaining the largest source of income for the second consecutive year, accounting for 44% of total revenue.

The Deloitte Football Money League report also revealed an 11% rise in matchday revenue, while broadcast revenue remained stable at €4.3 billion. English clubs continue to dominate the rankings, with six teams in the top 10 and nine in the top 20. Manchester United rose to fourth place, driven by their return to the Champions League, with a revenue of €771 million. Barcelona slipped to sixth due to renovation work on their Camp Nou stadium, which has forced them to play at the smaller Montjuic stadium.