The LaLiga giants top the Football Money League ahead of Manchester City and PSG, while Manchester United move up to fourth.
Real Madrid is the first soccer club to generate more than one billion euros in revenue in a single season, boosted by revenue generated by the renovated Santiago Bernabeu stadium, according to accounting firm Deloitte.
The order of clubs at the top of Deloitte’s annual Football Money League remained the same, with Madrid on €1.05 billion ($1.09 billion), followed by Premier League champions Manchester City ($872 million) and Paris Saint-Germain ($839 million dollars).
The $216 million difference between first and second place is the largest Deloitte has ever recorded.
A dramatic renovation of Real Madrid’s home has doubled match revenue to $258 million in the 2023-24 campaign.
Since 2018, Madrid has taken out loans totaling more than $1 billion to renovate the Bernabeu, with the aim of turning it into a major source of income.
The state-of-the-art venue now boasts a corrugated metal roof, shops, expanded VIP areas and a retractable pitch.
Pop megastar Taylor Swift is among the big names who have performed at the stadium since it reopened, while the NFL’s first game in Spain will be held there later this year.
However, Madrid’s aim to use the Bernabeu, which has a capacity of around 80,000, to generate extra cash has been undermined by noise complaints from residents and the club has temporarily suspended concerts.
“Club stadiums are increasingly valued as more than just matchday assets, with many clubs turning their grounds into multi-purpose entertainment venues that attract new visitors, sponsors and retail opportunities.” said Tim Bridge, managing partner at Deloitte Sports Business Group.
“Football clubs are now realizing the value of becoming much more than sports brands, with media and entertainment intertwining with the commercial potential they have to offer.”
Despite an 11 percent increase in match revenue, advertising remained the biggest source of revenue for the 20 Money League clubs for the second year in a row, accounting for 44 percent of total revenue.
Broadcast revenue was flat at 4.4 billion euros ($4.6 billion) as each of the “Big Five” leagues – England, Spain, Italy, France and Germany – remained on the same domestic broadcast cycle as the previous season.
English clubs continue to dominate, boosted by Premier League television revenues, with six of the top 10 and nine of the 20 Money League clubs.
Manchester United rose to fourth place thanks to their return to the Champions League ($802 million), ahead of Bayern Munich ($796 million).
Barcelona dropped to sixth place as renovation work at the Camp Nou stadium forced the Catalan giants to switch to the smaller Montjuic, which hosted the 1992 Olympics.
Arsenal, Liverpool, Tottenham and Chelsea complete the top 10, although the latter three clubs missed out on the Champions League last season.
Barcelona topped the women’s team list for the third consecutive year with $18.6 million in revenue, a 26 percent increase over the 2022-23 season.
Arsenal Women ($17.9 million) are second, followed by Chelsea ($13.9 million), Manchester United ($11.1 million) and Real Madrid ($10.9 million).
