Real Madrid is the first football club to reach €1 billion in revenue in a single season, driven by income generated from the renovation of the Santiago Bernabeu stadium, according to financial experts Deloitte. The ranking of clubs topping Deloitte’s annual football money list remains unchanged, with Real Madrid (€1.05 billion, $1.09 billion) followed by Premier League champions Manchester City (€838 million) and Paris Saint-Germain (€806 million). . The gap of 208 million euros between first and second is the largest gap ever recorded by Deloitte. The dramatic renovation of Real Madrid’s stadium has helped double matchday revenues to €248 million in the 2023-24 season.
Real Madrid has obtained loans totaling more than one billion euros since 2018 to renovate the Bernabeu, with the aim of turning it into a major source of revenue.
The state-of-the-art venue now features a undulating metal roof, shops, expanded VIP areas and a retractable playground.
Pop star Taylor Swift is among the big names to have performed at the stadium since its reopening, while the first AFL match in Spain will be held there later this year.
However, Madrid’s goal of using the Santiago Bernabeu Stadium, which has a capacity of around 80,000, to generate additional funds, has been hit by complaints of noise pollution from residents, with the club temporarily suspending hosting concerts.
“Club grounds are increasingly valued as more than just matchday assets, with a number of clubs transforming their grounds into multi-use entertainment venues attracting new visitors, sponsors and retail opportunities.” said Tim Bridge, senior partner at Deloitte Sports Business group.
“Football clubs are now realizing the value of becoming much more than just sports brands, with media and entertainment becoming intertwined with the commercial potential they have to offer.”
Although matchday revenues rose by 11%, commercial activity remained the largest source of revenue for the 20 clubs in the Financial League for the second year in a row, accounting for 44% of total revenues.
Broadcast revenues stabilized at €4.3 billion as each of the “big five” leagues – England, Spain, Italy, France and Germany – remained in the same domestic broadcast cycle as the previous season.
English clubs continue to dominate, boosted by the Premier League’s television revenues, with six of the top 10 clubs and nine of the 20 in the Money League.
Manchester United rose to fourth place on the back of returning to the Champions League (771 million euros), ahead of Bayern Munich (765 million euros).
Barcelona fell to sixth place after renovation work at Camp Nou forced the Catalan giants to shift to the smaller Montjuïc Stadium, which hosted the 1992 Olympics.
Arsenal, Liverpool, Tottenham and Chelsea complete the top ten despite the latter three clubs missing out on the Champions League last season.
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