Real Madrid becomes first football club to exceed €1 billion in revenue

Real Madrid published their accounts for the 2023-24 financial year, in which they achieved an operating income figure, before disposal of fixed assets, of 1,073 million euros. This makes it the first football club in the world to exceed €1 billion.
"Operating income (before disposal of fixed assets) for the 2023/24 financial has totalled 1.073 billion euros, an increase of 230 million euros (27%) compared to the 2022/23 financial year. In this period, despite the stadium not being fully operational, the Club has succeeded in eclipsing the one-billion-euro mark in operating income before disposal of fixed assets. This is an unprecedented figure for any football club," reads the statement.
"The club closes the 2023-24 financial year with a profit, after tax, of 16 million euros, 32% higher than the previous one (12 million). It thus maintains the path of profits achieved year after year since the turn of the century, all within an economic context characterized by widespread and very significant losses accumulated in the period 2019-20 to 2022-23 by the vast majority of the most relevant European teams, losses that also persist in quite a few clubs in the 2023-24 financial year," the Spanish side added.
“As a result of the profits obtained, the club has been increasing year by year the value of its net assets to reach a value of 574 million euros as of June 30, 2024,” it noted.
“The cash balance at June 30th, 2024, excluding the loan for the stadium remodeling project, is 82 million euros, compared to a cash balance of 128 million euros at June 30, 2023,” the report continued.
Real Madrid pointed out that “all business lines have registered growth, with the exception of broadcasting, where the revenues received from La Liga in 2023-24 have been lower than those of 2022-23”.
On the other hand, it highlighted: “In terms of commercial activity, during the 2023/24 financial year the club has significantly boosted both merchandising and sponsorship activity, with the signing of the new HP sponsorship for the sleeve of the shirt standing out in the latter case”.
Finally, Real Madrid reported that the club's contribution to “tax revenues and Social Security in fiscal year 2023-24 amounted to 277.1 million euros”.