Real Madrid stumbled on the field this past season, finishing as runner-up in LaLiga and losing in the quarterfinals of the Champions League. But the Spanish soccer club remains the sport’s dominant brand off the field.
Real Madrid posted revenue for the 2024-25 season of €1.185 billion ($1.39 billion based on current exchange rates). It is 10.4% higher than last year when it became the first soccer club to top €1 billion in revenue. The previous record was €990 million for FC Barcelona in 2018-19.
It is the highest revenue ever posted by a professional sports franchise in a fiscal year. The Dallas Cowboys crossed the $1 billion threshold for the first time during the 2022 season, and revenue was $1.2 billion in the most recent Sportico NFL team valuations. MLB’s Los Angeles Dodgers joined the three-comma club last year during their World Series run. Sportico estimated their 2024 gross revenue at $1 billion before revenue-sharing.
Real Madrid broadcasting revenue fell during the fiscal year, due to a lower Champions League payout compared to when the club won the competition in 2024. The payout from LaLiga was also lower, according to Real Madrid. But soaring commercial and matchday revenue offset those declines.
Merchandising and sponsorship revenue jumped, with the latter boosted by new partnerships, including the club’s first sleeve sponsorship—a deal with tech giant HP signed in February 2024. Commercial operations were also helped as it was the first full financial year without restrictions due to construction work following the five-year renovation of its Santiago Bernabéu Stadium.
In its financial results, Real Madrid said the total stadium investment as of June now stands at €1.35 billion ($1.58 billion), and the figure is “close to the final total investment.” The final steps include certain catering activities and noise-reduction improvements for concerts.
The results partially include the just wrapped 2025 FIFA Club World Cup, as the fiscal year ended June 30, in the middle of the tournament. Real Madrid lost in the semifinals to Paris Saint-Germain, and income and expenses for the second half of the tournament will be allocated to the 2025-26 financial year. Real Madrid earned roughly $82 million in prize money for the first expanded Club World Cup.
Earnings before interest, taxes, depreciation and amortization were €243 million ($284 million), up 55%. Net income rose at a similar level to $28 million.
The club touted its personnel expense-to-revenue ratio of 43%, a four percentage point improvement versus the previous season. It was well below the 70% limit recommended by the European Club Association.
In May, Real Madrid topped Sportico’s soccer team valuations at $6.53 billion. The club ranks 15th among all sports franchises, which is dominated at the top by NFL teams, including the first-ranked Cowboys at $10.3 billion.
