Breaking
30 Apr 2025, Wed

Real Madrid breaks historical record with €1.046 billion revenue in the 2023/2024 season

Real Madrid


Real Madrid achieved an unprecedented milestone in the history of global football by surpassing the €1 billion revenue mark during the 2023/2024 season. With €1.046 billion recorded, the Spanish club reaffirms its position as one of the most financially dominant entities in sports. This achievement was driven by a combination of factors, including success on the field, growth in commercial revenues, and the direct impact of renovations to the Santiago Bernabéu Stadium. The annual Deloitte Football Money League report detailed this result, placing Real Madrid at the top of the ranking of the world’s richest clubs.

Other highlights of the report include Flamengo’s return to the exclusive group of the 30 clubs with the highest global revenues, reaching €198.2 million, the highest figure ever recorded by a Brazilian club in this ranking. This growth reflects the increasing relevance of South American football on the global stage.

The study considers only recurring revenues, excluding amounts from player transfers. This methodology reinforces the impact of efficient financial management and the strengthening of sports brands as key strategies for financial success.

Impact of Santiago Bernabéu Stadium renovations

The modernization of the Santiago Bernabéu Stadium was one of the main drivers behind this extraordinary increase in revenue. The renovations, completed in 2023, introduced state-of-the-art facilities that expanded the stadium’s capacity and transformed the fan experience. Matchday revenue doubled compared to the previous season, totaling €248 million.

These improvements also opened up new revenue streams, such as corporate events and VIP experiences for spectators, significantly enhancing the club’s appeal to investors and sponsors. This strategy, which combines tradition with innovation, consolidated Real Madrid’s leadership both on the field and in finances.

Commercial performance and sponsorships

Another highlight was the 19% increase in commercial revenues, which reached €482 million. This was made possible by new sponsorship agreements, including partnerships with global brands such as HP, and the growth in sales of licensed products. The global popularity of the Real Madrid brand has translated into a steady increase in demand for official club merchandise, from jerseys to collectible items.

The club also maintained strong media appeal, securing lucrative broadcast rights contracts. The UEFA Champions League, in which Real Madrid was a key player, was a crucial element in this context. Success in European competitions ensured greater global visibility and attracted record audiences for live broadcasts.

Comparison with other European clubs

Real Madrid’s financial results position the club as a standout leader in the global ranking. Behind it, other football giants also recorded impressive performances:

  • Manchester City: With €837.8 million, it maintained second place, driven by domestic titles and growth in commercial revenues.
  • Paris Saint-Germain (PSG): With €805.9 million, it ranks third, reflecting the influence of its main star, Kylian Mbappé, in the global market.
  • Manchester United: Recording €770.6 million, the club remains one of the strongest in terms of marketing and Premier League broadcast revenues.
  • Bayern Munich: With €765.4 million, the German club remains in the top five, standing out for the consistency of its financial management.

Flamengo in the global context

Flamengo made history by returning to the ranking of the 30 richest clubs in the world, a feat that had not occurred since the 1996/1997 season. With revenues of €198.2 million, the Rio de Janeiro-based club exceeded expectations and consolidated its position as one of the most valuable brands in South American football.

This growth was driven by a combination of factors, such as the expansion of its international fan base, increased broadcast revenues, and investments in marketing. The achievement of important titles in recent years also played a crucial role, elevating the club’s profile in continental and global competitions.

Other clubs highlighted in the top 30

The Deloitte list also features other names that reflect the diversification of the financial landscape in football:

  1. Newcastle United: Backed by Saudi investments, recorded €371.8 million.
  2. Napoli: With €253.6 million, stands out as the Italian club with the highest percentage growth.
  3. Benfica: First appearance among the top 30 in years, with €224 million.
  4. Crystal Palace: Reached €218.9 million, reflecting the strength of the Premier League.
  5. Aston Villa: Entered the top 20 for the first time, with €310.2 million in revenues.

Factors driving Real Madrid’s success

  • Sports performance: Winning LaLiga and excelling in the Champions League attracted record audiences.
  • Innovative marketing: A leader in digital innovations, with marketing campaigns that engage fans globally.
  • Strategic partnerships: Sponsorships from major brands like HP and Adidas expanded commercial appeal.

The importance of recurring revenues

The Deloitte report highlights that the financial sustainability of clubs increasingly depends on recurring revenues. Broadcast rights, matchday revenues, and sponsorships are essential components to maintain competitiveness in the global market. Player transfers, while profitable, have limited impact in terms of financial predictability.

Challenges for the future

Despite their success, Real Madrid and other clubs face significant challenges. The growing competition for global audiences and the need to invest in technological innovations to engage fans will remain priorities. Additionally, the impact of the 2025 Club World Cup is expected to bring opportunities for clubs outside Europe, increasing financial competition on the global stage.

Key data about Real Madrid and Flamengo

  • Real Madrid leads with €1.046 billion in revenues.
  • Flamengo records €198.2 million, being the only South American club in the ranking.
  • The top 20 clubs collectively achieved €11.2 billion in revenues during the season.
  • PSG, ranked third, had marginal growth of just 2%.



Real Madrid achieved an unprecedented milestone in the history of global football by surpassing the €1 billion revenue mark during the 2023/2024 season. With €1.046 billion recorded, the Spanish club reaffirms its position as one of the most financially dominant entities in sports. This achievement was driven by a combination of factors, including success on the field, growth in commercial revenues, and the direct impact of renovations to the Santiago Bernabéu Stadium. The annual Deloitte Football Money League report detailed this result, placing Real Madrid at the top of the ranking of the world’s richest clubs.

Other highlights of the report include Flamengo’s return to the exclusive group of the 30 clubs with the highest global revenues, reaching €198.2 million, the highest figure ever recorded by a Brazilian club in this ranking. This growth reflects the increasing relevance of South American football on the global stage.

The study considers only recurring revenues, excluding amounts from player transfers. This methodology reinforces the impact of efficient financial management and the strengthening of sports brands as key strategies for financial success.

Impact of Santiago Bernabéu Stadium renovations

The modernization of the Santiago Bernabéu Stadium was one of the main drivers behind this extraordinary increase in revenue. The renovations, completed in 2023, introduced state-of-the-art facilities that expanded the stadium’s capacity and transformed the fan experience. Matchday revenue doubled compared to the previous season, totaling €248 million.

These improvements also opened up new revenue streams, such as corporate events and VIP experiences for spectators, significantly enhancing the club’s appeal to investors and sponsors. This strategy, which combines tradition with innovation, consolidated Real Madrid’s leadership both on the field and in finances.

Commercial performance and sponsorships

Another highlight was the 19% increase in commercial revenues, which reached €482 million. This was made possible by new sponsorship agreements, including partnerships with global brands such as HP, and the growth in sales of licensed products. The global popularity of the Real Madrid brand has translated into a steady increase in demand for official club merchandise, from jerseys to collectible items.

The club also maintained strong media appeal, securing lucrative broadcast rights contracts. The UEFA Champions League, in which Real Madrid was a key player, was a crucial element in this context. Success in European competitions ensured greater global visibility and attracted record audiences for live broadcasts.

Comparison with other European clubs

Real Madrid’s financial results position the club as a standout leader in the global ranking. Behind it, other football giants also recorded impressive performances:

  • Manchester City: With €837.8 million, it maintained second place, driven by domestic titles and growth in commercial revenues.
  • Paris Saint-Germain (PSG): With €805.9 million, it ranks third, reflecting the influence of its main star, Kylian Mbappé, in the global market.
  • Manchester United: Recording €770.6 million, the club remains one of the strongest in terms of marketing and Premier League broadcast revenues.
  • Bayern Munich: With €765.4 million, the German club remains in the top five, standing out for the consistency of its financial management.

Flamengo in the global context

Flamengo made history by returning to the ranking of the 30 richest clubs in the world, a feat that had not occurred since the 1996/1997 season. With revenues of €198.2 million, the Rio de Janeiro-based club exceeded expectations and consolidated its position as one of the most valuable brands in South American football.

This growth was driven by a combination of factors, such as the expansion of its international fan base, increased broadcast revenues, and investments in marketing. The achievement of important titles in recent years also played a crucial role, elevating the club’s profile in continental and global competitions.

Other clubs highlighted in the top 30

The Deloitte list also features other names that reflect the diversification of the financial landscape in football:

  1. Newcastle United: Backed by Saudi investments, recorded €371.8 million.
  2. Napoli: With €253.6 million, stands out as the Italian club with the highest percentage growth.
  3. Benfica: First appearance among the top 30 in years, with €224 million.
  4. Crystal Palace: Reached €218.9 million, reflecting the strength of the Premier League.
  5. Aston Villa: Entered the top 20 for the first time, with €310.2 million in revenues.

Factors driving Real Madrid’s success

  • Sports performance: Winning LaLiga and excelling in the Champions League attracted record audiences.
  • Innovative marketing: A leader in digital innovations, with marketing campaigns that engage fans globally.
  • Strategic partnerships: Sponsorships from major brands like HP and Adidas expanded commercial appeal.

The importance of recurring revenues

The Deloitte report highlights that the financial sustainability of clubs increasingly depends on recurring revenues. Broadcast rights, matchday revenues, and sponsorships are essential components to maintain competitiveness in the global market. Player transfers, while profitable, have limited impact in terms of financial predictability.

Challenges for the future

Despite their success, Real Madrid and other clubs face significant challenges. The growing competition for global audiences and the need to invest in technological innovations to engage fans will remain priorities. Additionally, the impact of the 2025 Club World Cup is expected to bring opportunities for clubs outside Europe, increasing financial competition on the global stage.

Key data about Real Madrid and Flamengo

  • Real Madrid leads with €1.046 billion in revenues.
  • Flamengo records €198.2 million, being the only South American club in the ranking.
  • The top 20 clubs collectively achieved €11.2 billion in revenues during the season.
  • PSG, ranked third, had marginal growth of just 2%.



Leave a Reply

Your email address will not be published. Required fields are marked *