Real Madrid make history to breach a massive financial milestone by becoming first football club to generate €1bn in revenue.
Real Madrid became the first football club to surpass €1bn (£844m) in revenue in a season when they substantially increased their financial firepower.
The most recent Deloitte Football Money League report states that Madrid earned €1.046 billion (£883 million) in the 2023–24 season, driven by a 19% rise in commercial revenue and match-day revenue that doubled to €248 million following the completion of the Bernabéu renovations. They won the Spanish Super Cup, La Liga, and the Champions League at the end of the season.
Manchester City came in second with €838 million (£708 million), followed by Paris Saint-Germain in third place with €806 million (£681 million) and Manchester United in fourth place with €771 million (£651 million). In the 28 years that Deloitte has been creating the ranking, the revenue difference between the top and bottom teams has never been greater.
“One billion euros in revenues is a landmark in club football,” said Theo Ajadi, assistant director in the Deloitte Sports Business Group. “The redevelopment of Madrid’s stadium has been the catalyst for the club’s growth. They’ve licensed some seating, which has provided a significant uplift in revenue, and also increased merchandising and brought in new sleeve sponsorship. That, along with strong on-pitch performance, has led to Madrid’s strong financial performance.”
The 2023–24 season saw a record €11.2 billion (£9.46 billion) in income from the top 20 revenue-generating teams, according to Deloitte. This is a 6% increase in cumulative revenues over the previous season.
Barcelona fell to sixth place because they had to play away from Camp Nou while the stadium was being renovated, while Bayern Munich came in fifth.
Nine of the top 20 are made up of Premier League teams, with Chelsea in 10th place, Tottenham in 9th, Liverpool in 8th, and Arsenal in 7th. Aston Villa, Newcastle, and West Ham are ranked 15th, 17th, and 18th, respectively.