Real Madrid surpassed €1billion ($1.085bn) in revenue for the 2023-24 season, according to the club’s annual accounts.
The club’s revenue, excluding player transfers, reached €1.073bn ($1.16bn), a 27 per cent increase from the previous year despite ongoing stadium renovations.
Madrid also reported a profit of €16million ($17.3m) for the fiscal year, with a net worth of €574m ($623m) and net debt of just €8m ($8.6m) as of June 30, 2024. They claim they are the first football club to exceed €1bn in revenue.
In the previous campaign, Madrid enjoyed substantial success on the field, securing the Champions League title — their sixth in a decade — along with La Liga and the Super Cup. The basketball team also excelled, capturing the Spanish league title, King’s Cup, and Spanish Super Cup while reaching the Euroleague finals.
GO DEEPER
Mbappe at Real - how does he fit in with Bellingham, Vinicius Jr and Rodrygo?
Operating income surged by €230m ($249m) compared to the 2022-23 season. Madrid has attributed the revenue increase to growth across various business lines, particularly in marketing and stadium-related income. While broadcasting revenues from La Liga saw a decline, marketing efforts and sponsorship deals, such as the new HP shirt sleeve sponsorship, have bolstered the club’s financial performance.
The club’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged to €144m ($156m), marking a 71 per cent increase from the previous year. This represents 13 per cent of total revenues, up from 10 per cent previously. When including player disposals, the EBITDA for the 2023-24 year is €156m ($169m), comparable to the €158m ($171m) reported for the 2022-23 financial year.
The Santiago Bernabeu Stadium renovation continues to advance, with a total investment of €1.163bn ($1.262bn) to date. The final phase of the project, including the completion of the VIP area, events spaces, and other commercial ventures, is anticipated to be completed in the 2024-25 financial year. This is expected to drive further revenue growth.
Madrid say they are planning to build on their commercial success. The upcoming season will see the introduction of Kylian Mbappe to the squad, who joined on a free transfer after his contract at Paris Saint-Germain expired earlier this year.
(Alex Pantling/Getty Images)
Get all-access to exclusive stories.
Subscribe to The Athletic for in-depth coverage of your favorite players, teams, leagues and clubs. Try a week on us.
Guillermo began his career covering Real Madrid and the sports industry for Diario AS. He later moved to London and became AS and Cadena Ser correspondent. He has since returned to Madrid and joins us at The Athletic where he will deliver Real Madrid news, interviews, stories, and more.
