Real Madrid is the first football club to earn more than €1 billion ($1.04 billion) in a year, according to a report by Deloitte on Thursday.
The report, which looks at the 2023-24 season, shows that the Spanish and European champions made €1.045 billion in revenue, putting them at the top of the list.
Manchester City is in second place with €838 million, followed by Paris Saint-Germain with €806 million, Manchester United with €771 million, and Bayern Munich with €765 million.
English Premier League clubs dominate the top 10, with Barcelona, Arsenal, Liverpool, Tottenham Hotspur, and Chelsea also making the list.
The 20 clubs included in the study collectively received €11.2 billion, which is up 6% on 2022-23, Deloitte said.
In the 2023-24 season, Real Madrid achieved major successes, winning the Champions League after defeating Borussia Dortmund in the final at Wembley and securing La Liga with a 10-point lead over second-place Barcelona.
Their total revenue of €1 billion came from €248 million in matchday income, €316 million from broadcasting rights, and €482 million in commercial earnings.
The ongoing improvements to the Santiago Bernabéu Stadium contributed to a significant increase in matchday revenue, which doubled compared to the previous year.
Madrid’s €248 million from matchdays is the highest of any club, with Paris Saint-Germain coming in second at €170 million.
Their commercial revenue also grew by 19%, surpassing all other clubs.
Deloitte reported that the revenue gap between the top two clubs, Real Madrid and Manchester City, is now a record €208 million, making it the largest difference ever seen in the study.