Real Madrid named richest football club after breaking €1bn barrier

Real Madrid have cemented their status as the richest club in world football after becoming the first to achieve more than €1bn of revenue in a single year, says Deloitte’s Football Money League.

The European champions increased their income by 26 per cent to €1.046bn (£884m) for 2023-24 thanks to the full reopening of their revamped Bernabeu stadium, according to the report, published today.

That figure put Real Madrid more than €200m ahead of the chasing pack, headed by Premier League champions Manchester City, who had revenues of €838m (£708m). 

Paris Saint-Germain, Manchester United and Bayern Munich completed the top five of the Money League, ahead of Barcelona, whose income was dented by a temporary relocation while their home, Camp Nou, is redeveloped.

“Money League clubs continue to break records with ongoing growth in commercial and matchday revenues,” said Tim Bridge, lead partner in the Deloitte Sports Business Group.

“While on-pitch performance is critical for teams to reach the top echelons of the rankings, high performing clubs are also able to diversify the way they generate revenue through unlocking innovative partnerships and developing the land and stadium space that they own or operate.”

Arsenal narrowly pipped Liverpool to seventh in the Money League as a result of their return to the Champions League, which helped increase revenue to €717m (£606m).

Tottenham Hotspur and Chelsea made it six English clubs in the top 10 despite both seeing slight drops in revenue. 

Newcastle United, West Ham United and Aston Villa also ranked in the top 20, making the Premier League the best represented competition by far. 

The top 20 richest clubs in the world made a record €11.2bn in total, a six per cent increase on the previous season, as the European football market continued to grow.

Commercial revenue, including sponsorship deals and retail sales, continues to be the biggest stream and a major differentiator between the top 10 clubs and the rest.

But amid stagnating broadcast income, matchday was the fastest growing revenue stream for the second year in a row, topping €2bn across the top 20 teams for the first time.

“Club stadia are increasingly being valued as more than just matchday assets, with a number of clubs converting their grounds into multi-use entertainment venues that attract new visitors, sponsors, and retail opportunities,” added Bridge. 

“Football clubs are now realising the value of becoming far more than sporting brands, with media and entertainment becoming intertwined with the commercial potential that they have to offer.”