Real Madrid has broken financial records, becoming the first football club to surpass €1 billion ($1.04 billion) in annual revenue, according to the Deloitte Football Money League. Figures covering the 2023-24 season reveal that the Spanish and European champions topped the rankings, earning a staggering €1,045,500,000.
Madrid's record revenue is €248 million from matchday revenue, €316 million from broadcasting and €482 million from commercial activities.
The redevelopment of the Santiago Bernabéu stadium played a key role, with matchday revenue doubling from the previous season, making it the highest among all clubs. Paris Saint-Germain is close behind with €170 million in matchday earnings.
Manchester City (€838 million) is second, followed by Paris Saint-Germain (€806 million), Manchester United (€771 million) and Bayern Munich (€765 million). The Premier League dominates the top 10, with clubs like Arsenal, Liverpool, Tottenham Hotspur, and Chelsea alongside La Liga's Barcelona. Collectively, the top 20 clubs earned €11.2 billion, a 6% increase over the 2022-23 season.
Real Madrid's financial dominance mirrors their success on the field. In the 2023–24 season they won the Champions League, beating Borussia Dortmund in the final at Wembley, and took the LaLiga title, finishing 10 points ahead of Barcelona.
The financial disparity between second-placed Real Madrid and Manchester City reached a record 208 million euros. Madrid's commercial income, which rose by 19%, remains unmatched among the clubs studied.
Deloitte's report highlights Madrid's strategic growth and the impact of their renovated stadium, which reinforces their position as the financial powerhouse of global football.