Spanish football giants Real Madrid have become the first sports organisation in history to generate more than €1.2 billion in annual operating revenue, posting a record €1.221 billion for the 2025/2026 financial year despite finishing the season without a major trophy.
The milestone underscores the club’s growing financial strength, driven largely by commercial activities and the redevelopment of the Santiago Bernabéu Stadium, which has emerged as a major source of revenue beyond matchdays.
Real Madrid also reported a record earnings before interest, taxes, depreciation and amortisation (EBITDA) of €287.4 million, an 18 per cent increase from the previous financial year, while net profit after tax rose by eight per cent to €26.3 million. The latest results mark the 26th consecutive year the club has ended its financial year with a profit.
Revenue generated from the Santiago Bernabéu reached €363 million, more than double the level recorded before the stadium’s redevelopment began in 2019. The project has attracted cumulative investment exceeding €1.4 billion, transforming the venue into a year-round commercial asset.
Commercial operations also recorded strong growth, with marketing revenue rising to €539 million, supported by renewed sponsorship agreements and new commercial partnerships. Although merchandise sales declined compared with the previous year, higher sponsorship and licensing income offset the drop.
Despite ongoing repayments related to the Bernabéu redevelopment, the club ended the financial year with €83 million in cash, €475 million in undrawn credit facilities, and net debt of just €9 million, excluding stadium-related financing, highlighting its strong financial position.
