Real Madrid, the Spanish soccer giants, brought in record revenue of €843 million ($948m) in the 2022-23 season.
The club announced its financial results for the last campaign yesterday (July 17), with the revenue figure – excluding player sales – representing an increase from the previous campaign of €121 million.
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The previous record revenue figure for the LaLiga heavyweights came in 2018-19 when income of €757 million was secured.
Profit came to €11.8 million (after tax) for the season, down slightly from €13 million in 2021-22 (when the club won both LaLiga and the pan-European UEFA Champions League).
Earnings before interest, taxation, depreciation, and amortization (EBITDA) came to €157.6 million.
Aside from competition-based revenue (factoring in the LaLiga and Champions League triumphs), every sector of revenue increased year-to-year.
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By GlobalDataThe club has said it expects the ongoing work on its iconic Santiago Bernabeu stadium to be completed by the end of this year, and thus that stadium and matchday revenue “in 2023-24 will increase significantly compared to the 2022-23 financial year.”
Real have a partnership related to investment into the stadium's redevelopment with US investment firm Sixth Street and with the Legends agency it owns.
Income from that sector in 2024-25 is expected to increase further still, although the club has said that this rise will “also translate into the consequent increase in operating expenses related to the operation of the stadium.”
The increase in income through the completion of the venue’s renovation will begin in January next year, Madrid have said.
Last season, Real finished second in LaLiga and were knocked out of the Champions League at the semi-final stage by the eventual winner, England’s Manchester City.
The Bernabeu is currently being redeveloped in a project that is costing between €800 million and €900 million.
Real are hoping to recoup the huge outlay spent on renovating their home by staging regular events at the Bernabeu outside of soccer matches with plans for the venue to be open for use 300 days a year.
There will also be a skywalk around the stadium, with some of Spain's biggest restauranteurs invited to make proposals for those spaces, while new VIP zones will also have over 25,000 square meters to create premium hospitality spaces.
The stadium will feature a retractable roof to stage indoor events, as well as retractable turf which means the playing surface for the club’s matches will not be affected.
The redevelopment will, in addition, expand the stadium’s capacity to around 100,000 for music concerts and other events with standing areas.
In terms of commercial activity, Real extended their long-standing shirt sponsorship deal with Dubai-based airline Emirates in October.
Image: Soccrates Images/Getty Images
