Spanish football club Real Madrid has made history by becoming the first football club to generate the highest revenue during a single season.

In a report by the 28th edition of the Deloitte Football Money League, the reigning UEFA champions surpassed €1 billion in revenue during the 2023/24 season.

The report highlights that the 20 clubs in the Money League collectively generated a record €11.2 billion, a 6% increase from the previous season.

Real Madrid led the rankings with €1 billion, followed by Manchester City (€838m), Paris Saint-Germain (€806m), Manchester United (€771m), and Bayern Munich (€765m).

Tim Bridge, a lead partner at Deloitte Sports Business Group, attributed this success to diversified revenue streams.

“Clubs are unlocking innovative partnerships and enhancing stadium spaces to drive revenue,” he said.

Match day revenue was the fastest-growing segment, increasing by 11% year-on-year to reach €2.1 billion, thanks to larger stadium capacities and premium ticket pricing.

Real Madrid’s matchday revenue doubled to €248 million following renovations to the Santiago Bernabéu Stadium. Additionally, the club reported a 19% rise in commercial income, driven by merchandise sales and new sponsorship deals.

Commercial revenues remained the largest income source for Money League clubs, accounting for 44% of total revenue, or €4.9 billion. Enhanced retail performance, non-football events, and rising sponsorships contributed significantly to this growth.

However, broadcast revenue remained flat at €4.3 billion due to stable media rights deals among Europe’s top five leagues.

The rankings also showcased the financial challenges tied to on-pitch performance. Clubs like Juventus and FC Barcelona experienced declines due to reduced European participation or smaller venues. Conversely, Arsenal (€717m) and Newcastle (€372m) saw revenue growth from improved domestic and European performances.

Bridge emphasized the growing importance of stadium infrastructure and multi-use venues.

“Clubs are transforming their grounds into entertainment hubs, enhancing their value as global media and entertainment brands.”

The Deloitte Football Money League continues to highlight the financial power of Europe’s top clubs, with Real Madrid setting a new standard for success both on and off the pitch.