Real Madrid have taken their biggest ever lead at the top of the football revenue tree after posting record profits during a season in the Spanish capital, according to Deloitte’s annual Football Money League.
The Spanish and European champions earned $1.13 billion during the 2023-24 season, with matchday revenue doubling to around $2.5 billion with the completion of renovations at the Santiago Bernabeu. Commercial revenues also rose significantly, increasing Madrid’s revenue lead over Manchester City to more than $200 million. According to Theo Ajadi, associate director of Deloitte’s Sports Business Group, this is the largest gap between first and second place in the money league’s 30-year history.
Paris Saint-Germain remained in third place, while Manchester United and Bayern Munich moved into the top five, ahead of Barcelona. In a sign that European football’s elite are consolidating their wealth, the composition of the top ten remains unchanged, but a season of Champions League football and improved commercial revenues were enough to lift Arsenal above the rest of the Premier League’s “bigs” . There are 6 in that order: Liverpool, Tottenham, and Chelsea. Borussia Dortmund is the only club to earn more than $500 million from soccer.
Deloitte Football Money League
|
1 (1) |
real madrid |
$1.1 billion |
+26% |
|
2 (2) |
manchester city |
$906.1 million |
+1% |
|
3 (3) |
Paris Saint-Germain |
$871.6 million |
+1% |
|
4 (5) |
manchester united |
$833.5 million |
+3% |
|
5 (6) |
bayern munich |
$827.8 million |
+3% |
|
6 (4) |
barcelona |
$822.3 million |
-5% |
|
7 (10) |
arsenal |
$775 million |
+35% |
|
8 (7) |
Liverpool |
$773 million |
+5% |
|
9 (8) |
tottenham hotspur |
$665.2 million |
-3% |
|
10 (9) |
chelsea |
$590 million |
-7% |
There is a long way to go before Madrid, which became the first European soccer club to achieve 1 billion euros in sales when it released its financial report for the 2023-24 season last July, became the first European soccer club to do so. Barcelona previously passed the $1 billion mark in 2017-18, but no other club has reached that figure in euros. In fact, the Dallas Cowboys are believed to be the only sports team with higher profits than Madrid.
“Clubs have been targeting €1 billion in revenue for some time, even before COVID-19,” Ajadi said. “In terms of how this has come to fruition, we have a long-term license for matchday seating, which has also contributed significantly to our retail operations.
“This really encapsulates the brand that Madrid have and their ability to capitalize on it, and they have done that very successfully this year.
“The gap between first and second place in the history of money leagues is some distance away. The gap between second and fifth place would be a significant gap even if you discount the licenses. There is still a significant gap and it needs to be reduced. Significantly.”
taylor swift effect
Madrid’s revenue success speaks to a growing tendency for football clubs to use their stadiums as year-round facilities beyond the 25 or so home games per season. In fact, the Bernabeu’s renovations did not focus on restoring its 1950s and 60s capacity of 125,000, but instead on providing more VIP bars, premium seating and restaurants for 80,000.
24 hours before Madrid lifted their 16th European Cup, Taylor Swift was wrapping up the second night of her Eras Tour at the Bernabeu. Spanish media said the two performances were worth less than $10 million to the La Liga champions. . With the Miami Dolphins set to host Madrid’s first NFL regular season later this year and additional concerts, non-football revenue is likely to be crucial in keeping Los Merengues’ revenue in the high teens.
Tim Bridge, senior partner in Deloitte’s Sports Business Group, said: “Club stadiums are becoming increasingly important as more than just match-day assets, with many clubs seeing their stadiums as multi-purpose entertainment venues that attract new visitors, sponsors and retail opportunities. “We are transitioning to .” “Football clubs are now becoming more than just sports brands, with media and entertainment intertwined with the commercial potential they have to offer.”
Madrid wasn’t the only team to benefit from the Swift Effect. Even in a season where lucrative Champions League football was swapped for Europa League football, Liverpool were able to increase their revenue by 5%. The three nights on the Eras Tour were undoubtedly helpful.
Women’s team helping Arsenal grow
Concerts aren’t the only way to get more out of the turnstiles at the best stadiums. Arsenal’s leap over three of their rivals is largely due to increased broadcasting revenue from the Champions League deal and new commercial deals, including with long-term sponsor Emirates. But it is the revenue generated by the women’s team that can be said to have created the $2 million difference between them and Liverpool.
At $19.4 million (only Barcelona has more), the women’s team is a driving force in Arsenal’s revenue. In 2023-24, the Gunners played six WSL matches at the Emirates Stadium, breaking the competition’s attendance record three times and reaching an average attendance of 30,005, a 93% increase on the 12 months prior. Counting the attendance at the Emirates alone, the 52,029 crowd would be the 8th highest attendance of any Premier League club.
The momentum for the new campaign has not slowed down. With three and a half weeks left until February 16, more than 40,000 tickets have been sold for the north London derby against Tottenham, sources told CBS Sports.
“It’s a relatively small portion of our revenue right now, but as that property grows, it will have a more tangible impact and potentially attract new fans,” Ajadi said. “It has had a huge impact on Arsenal. If we can get 60,000 people to the Emirates more frequently, that will be hugely important. The customers we serve are actually watching more women’s football.
“It’s not just Arsenal – a lot of Championship and League One teams are hosting more games there. It’s going to be a lot of work for the pitch staff, that’s for sure!”
Can Barcelona close the gap on Madrid?
Meanwhile, the table makes for a viscerally grim read for Barcelona, who are in the top five for the second time in three years and have generated around $300 million in revenue to catch up with their arch-rivals. Likewise, there is some hope with Camp Nou renovations soon to be completed due to host matches before the end of this season. The time spent at the Montjuïc Olympic Stadium has not been good for Barcelona’s fans or their finances, with the club losing an estimated $110 million in matchday revenue, well below pre-pandemic levels, not to mention almost two and a half times what Madrid earned. Recorded.
The lever pulled by president Joan Laporta to transfer funds in the summer of 2022 threatens to cap Barcelona’s long-term earning potential, but their new stadium could lift them back to the top of the standings.
