Real Madrid become first club to cross €1 billion in revenue; open up huge gap over Man City as staggering amount generated in 2023/24 comes to light

Spanish giants Real Madrid have set an unprecedented record by becoming the first football club to earn over €1 billion in revenue in a single season. According to a report by Deloitte's Football Money League, the LaLiga outfit generated €1.04 billion during the 2023-24 season.

This significant increase in revenue was majorly due to the redevelopment of the Santiago Bernabeu. Following the completion of renovations at the iconic stadium, match-day revenue doubled to €248 million. Los Blancos also witnessed a 19 percent increase in commercial revenue from new sponsorship deals and more merchandise sales.

Notably, the 2023-24 season was also a successful campaign for Real Madrid on the pitch. The club clinched LaLiga, the UEFA Champions League, and the Spanish Super Cup. They were also named the 2024 Men's Club of the Year at the Ballon d'Or ceremony.

Speaking about Madrid's unprecedented single-season income, Theo Ajadi, assistant director at Deloitte's Sports Business Group said (via Daily Mail):

"One billion euros in revenues is a landmark in club football. 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," Ajadi added.

Coming behind Real Madrid on the revenue list is Manchester City who raked in €838 million. French side Paris Saint-Germain (PSG) came in third (€806 million), while Manchester United (€771 million) and Bayern Munich (€660 million) completed the top five.

It's pertinent to note that the gap between Madrid and Manchester City is the biggest ever recorded since Deloitte started taking annual revenue records in 1996.

Real Madrid rivals Barcelona considering moving El Clasico to a major European stadium

According to a report on Barca Universal, Real Madrid could end up playing the return leg of their league El Clasico clash with Barcelona away from Spain. Barcelona are still renovating the Spotify Camp Nou, and the stadium might not be ready when the two teams clash on May 11.

La Blaugrana have been playing their home games at the Estadi Olimpic Lluis Companys. Renovations at the Spotify Camp Nou were expected to be completed by late 2024 or early 2025, but that has not happened as the club has extended its lease of the stadium in Montjuic until April 2025.

Now, Barca reportedly plan to hire a huge capacity stadium outside of Spain if renovations are not completed by May and the Estadi Olimpic Lluis Companys becomes unavailable ahead of the clash with Real Madrid. However, they will need the approval of LaLiga and the Royal Spanish Football Federation (RFEF) to enact this contingency plan.

Hansi Flick's side notably defeated Real Madrid 4-0 during their first league clash of the season at the Santiago Bernabeu in October 2024.