Real Madrid Tops Deloitte Football Money League 2026 With €1.16bn in Revenue.

Roger Hampel

Image: Real Madrid 

Real Madrid has been ranked as the highest-earning football club in the world for the third consecutive year, according to Deloitte’s Football Money League 2026. The club reported €1.161 billion in revenue for the 2024/25 season, setting a new record and marking the second time a football club has exceeded the €1 billion threshold.

Revenue Composition and Growth Drivers Real Madrid

Deloitte’s report highlights that commercial revenue reached €594 million, representing a 23% year-on-year increase. Growth was attributed to merchandising performance and the addition of new sponsorship agreements, reinforcing the club’s ability to monetise its global brand across multiple categories.

Matchday revenue totalled €233 million, the second-highest figure ever recorded in the history of the Money League. This reflects the full commercial impact of the redeveloped Santiago Bernabéu, which has significantly expanded matchday capacity, hospitality, premium seating and non-football event usage.

Broadcast revenue remains a substantial component, but the 2024/25 data confirms that Real Madrid’s business model is increasingly commercial- and asset-led, rather than reliant on media distributions alone.

Competitive Landscape: The Revenue Gap at the Top

The latest Money League rankings show a widening gap between Real Madrid and the rest of the market. FC Barcelona ranked second with €974.8 million, followed by Bayern Munich at €860.6 million. The remaining top ten includes Paris Saint-Germain, Liverpool, Manchester City, Arsenal, Manchester United, Tottenham Hotspur and Chelsea.

Stadium Economics as a Differentiator

One of the defining structural advantages behind Real Madrid’s performance is stadium monetisation. The Bernabéu redevelopment has transformed matchdays into a year-round revenue platform, combining football, hospitality, retail and large-scale events.

In Deloitte’s analysis, matchday growth is no longer cyclical but structural, tied to infrastructure investment rather than ticket pricing alone. This places Real Madrid in a category of clubs able to scale revenues independent of competition results in a given season.

Deloitte noted that Real Madrid’s commercial performance was driven by merchandising growth and new sponsorship activity, while matchday income reached levels previously unseen outside exceptional one-off seasons. The firm highlighted that the club’s revenue mix increasingly reflects long-term asset utilisation, not short-term sporting fluctuation.