Spanish football league champions Real Madrid made history as the first football club to generate over €1 billion in annual revenue, according to Deloitte’s Money League analysis.
The Spanish giants recorded €1.05 billion in revenue for the 2023/24 season, during which they won both La Liga and the Champions League.
Despite this financial milestone, Real Madrid’s plans to leverage the newly renovated Santiago Bernabeu Stadium for additional revenue have faced challenges.
“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,” said Tim Bridge, lead partner in Deloitte’s Sports Business Group.
Overall, commercial revenue remained the largest revenue source for Money League clubs, accounting for 44% of total income, while matchday revenue grew by 11%. Broadcast revenue held steady at €4.3 billion, as the “Big Five” leagues – England, Spain, Italy, France, and Germany – remained in the same domestic broadcast cycle.
English clubs continued to dominate the rankings, thanks to the Premier League’s lucrative television deals. Six of the top 10 clubs and nine of the top 20 clubs in Deloitte’s Money League are from England.
Manchester City ranked second with €838 million in revenue, followed by Paris Saint-Germain (€806 million), Manchester United (€771 million), and Bayern Munich (€765 million).
Barcelona slipped to sixth place due to reduced matchday revenue caused by their temporary move to the smaller Montjuïc Stadium during Camp Nou renovations. Arsenal, Liverpool, Tottenham, and Chelsea complete the top 10, despite the latter three missing out on Champions League football last season.
The report also highlighted other Premier League clubs making strides, with Newcastle, West Ham, Brighton, and others climbing the rankings. Matchday revenue across all clubs increased to over €2 billion, aided by higher stadium capacities, ticket prices, and premium hospitality.
“Money League clubs continue to break records with ongoing growth in commercial and matchday revenues,” added Bridge.
Real Madrid’s success in boosting matchday revenue – doubling their earnings to €248 million after Bernabeu renovations – underscores the financial rewards of investing in infrastructure. However, Barcelona’s drop in matchday income during stadium redevelopment highlights the temporary setbacks such projects can cause.
With total revenue for the top 20 clubs rising 6% to €11.2 billion, the football industry continues to demonstrate its resilience and growth potential.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
