Real Madrid has announced that the club's revenue for the 2023-24 fiscal year (excluding player transfers) reached €1.073 billion, making it the first football club in history to surpass the €1 billion mark in annual revenue. The club has maintained a healthy financial status, with a €230 million increase from the previous year, representing a 27% growth. The club also reported a profit of €16 million and net assets of €574 million.
Remarkably, Real Madrid's competitive performance has been stellar as well. The men's football team secured the UEFA Champions League, La Liga, and Spanish Super Cup titles, while the men's basketball team won the Liga ACB, Copa del Rey, and Spanish Super Cup, and reached the EuroLeague final. These achievements have significantly boosted the club's revenue but have also increased costs, particularly those related to team bonuses.
Apart from the La Liga broadcast rights, which saw a decrease compared to the previous year, all other revenue streams have experienced growth, with notable increases in marketing and stadium-related income. The revamped Santiago Bernabéu Stadium, which reopened before Christmas last year, showcased its immense revenue-generating potential in just the latter half of the season. This indicates even higher revenue prospects for Real Madrid in future seasons.
Real Madrid's financial health is also reflected in the wage-to-revenue ratio. For the 2023-24 season, the club's wage expenditure accounted for 47% of its revenue, a 7% improvement from the previous fiscal year (54%). Excluding the impact of championship bonuses, the wage-to-revenue ratio stands at 44.5%, the lowest in several years and well below the 70% warning line recommended by the European Club Association. Through consistent revenue growth and expenditure control, Real Madrid has kept this ratio below the red line for the past two decades, even during the pandemic.
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