Real Madrid have become the first football club to record more than one billion euros in annual revenue, according to an analysis by Deloitte.
The Spanish club retained top spot in Deloitte’s Money League study with revenue of 1.05bn euros (£883m) from a 2023-24 season in which they won La Liga and the Champions League.
The staggering income generation for Madrid has been fuelled by the revamped Santiago Bernabeu stadium, according to Deloitte.
Manchester City retained second place with revenue of £708m in a season in which they won their fourth consecutive Premier League title and the Club World Cup and European Super Cup last season.
The 208-million-euro gap between first and second is the biggest Deloitte have ever recorded. The facelift of the home of Los Blancos doubled matchday revenues to 248 million euros in the 2023/24 campaign.
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Real Madrid launched the renovation of Bernabeu after taking loans totalling more than a billion euros since 2018, with the aim of turning it into a major source of revenue.
The state-of-the-art venue now bfeatures undulating metal roof, shops, expanded VIP areas and a retractable pitch.
International star Taylor Swift is among the big names who have performed at the stadium since it reopened, bringing in revenues. NFL’s first game in Spain will take place here later this year.
Also Read: UEFA report shows Real Madrid to be football’s top-earning club
Paris St-Germain (£681m), Manchester United (£651m) and Bayern Munich (£646m) complete the top five Deloitte’s Money League.
Barcelona dropped from fourth to sixth after a £53m fall in matchday revenue, with games played at a smaller stadium while the Nou Camp is redeveloped.
Aston Villa enter the top 20 after competing in Europe last season for the first time since 2011.
Nine Premier League clubs are in the top 20, with Arsenal, Liverpool, Tottenham, Chelsea, Newcastle and West Ham retaining their places.
Lyon are the only new club in the list, with Napoli and Eintracht Frankfurt sitting out.
Revenue sources
Revenues for the top 20 clubs soared by 6% to a record £9.47bn.
Matchday revenue was the fastest growing revenue stream, rising by 11% to £1.77 n, which can be attributed to an increase in stadium capacity, ticket prices and premium hospitality.
Commercial revenue remained the largest revenue source in the Money League, rising 10% to £4.14bn and accounting for 44% of total revenue, aided by the hosting of non-football live events such as concerts.
Total broadcast revenue remained at £3.64bn because each of the big five leagues – the Premier League, Spain’s La Liga, German Bundesliga, France’s Ligue 1 and Italy’s Serie A – run in the same domestic broadcast cycle.
