Real Madrid has become the first football club to surpass the one billion euro revenue mark in a single season, driven by the success of their newly revamped Santiago Bernabeu Stadium, Al Jazeera reports, citing a report by accounting firm Deloitte.
The Spanish giants raked in €1.05 billion ($1.09 billion) in revenue for the 2023-24 season, solidifying their position at the top of Deloitte’s annual Football Money League.
The club’s achievement marks a significant financial milestone in the world of football. The dramatic transformation of the Bernabeu, which boasts a new retractable pitch, an undulating metal roof, expanded VIP areas, and retail spaces, has seen matchday revenue double to $258 million this past season.
The gap between Real Madrid and second-placed Manchester City (€800m/$872m) is the largest Deloitte has ever recorded in the report, standing at a substantial $216 million. Paris Saint-Germain (€769m/$839m) remains in third place.
Real Madrid took out loans exceeding $1 billion since 2018 to fund the Bernabeu renovations, hoping to turn it into a major revenue generator. The state-of-the-art venue has already hosted major events, including performances by pop megastar Taylor Swift and an upcoming NFL game, the first in Spain.
However, the stadium’s expansion has not come without challenges. Noise complaints from residents have led to the temporary suspension of concerts at the venue.
While matchday revenue for the 20 Money League clubs increased by 11%, commercial revenue remained the biggest source of income for the second year running, accounting for 44% of total revenue. Broadcast revenue remained stable at €4.4 billion ($4.6 billion).
English clubs continue to dominate the top ranks, with six of the top 10 and nine of the 20 Money League clubs hailing from the Premier League. Manchester United jumped to fourth position (€735m/$802m), fueled by their return to the Champions League, followed by Bayern Munich (€729m/$796m). Barcelona slipped to sixth as renovations to their Camp Nou stadium forced them to play at the smaller Montjuic venue. Arsenal, Liverpool, Tottenham, and Chelsea complete the top 10 despite the latter three clubs missing out on the Champions League last season.
In women’s football, FC Barcelona tops the revenue list for a third consecutive year, with $18.6 million, a 26% increase from the 2022-23 season. Arsenal Women are second with $17.9 million, followed by Chelsea ($13.9 million), Manchester United ($11.1 million), and Real Madrid ($10.9 million).
