Europe: Real Madrid earns three times more from the stadium than Inter and Milan

source: StadiumDB.com; author: Jakub Ducki

Europe: Real Madrid earns three times more from the stadium than Inter and Milan The modernisation of Bernabeu has had a spectacular financial effect. With an investment of more than €1 billion, Real Madrid has increased its lead over other clubs in terms of revenue.

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Impressive increase in revenue after Bernabeu redevelopment

The Deloitte report shows that matchday revenues for Europe's top 20 clubs increased by 11% year-on-year in 2023/24, surpassing the €2bn mark for the first time ever. This segment now generates 18% of total club revenues, the highest share since the 2014/15 season.

Estadio Santiago Bernabeu, renovated and modernised, has become a key element of Real Madrid's financial success. The club's matchday revenue amounted to €248 million last season, an increase of 103% on the previous year. Such a spectacular result was achieved thanks to increased stadium capacity, new luxury VIP boxes and a more attractive ticket offer for fans.

Estadio Santiago Bernabéu© Real Madrid | Estadio Santiago Bernabéu

Gap between Spanish and Italian clubs

While Real Madrid are setting new standards in stadium management, Italian clubs are lagging far behind. Inter Milan and AC Milan, despite playing in one of Europe's largest stadiums, San Siro, earned €87 million and €81 million respectively. In comparison, Real Madrid's revenues are three times higher.

What's more, the increase in stadium revenues for Milan was just 10%, while Inter even saw a 10% drop. The poor financial health of both clubs in this category is particularly evident against teams such as PSG and Arsenal.

Turin's more modern venue, Allianz Stadium, was in an even more difficult situation, generating just €55m from match day, down 5% year-on-year. It is worth noting that the difference in stadium revenue between Real and Juventus is as much as €193m. Even Olympique Marseille is ahead of Juventus in this category, which clearly shows how much catching up the Serie A clubs have to do.

One of the key factors influencing financial performance is obviously stadium capacity. Nevertheless San Siro, with seating for 75,000 fans and significantly more space than Stamford Bridge or Etihad Stadium, falls far behind Premier League clubs.

Allianz Stadium (Juventus Stadium)© Gilberto Gaudio (gilbi) | Allianz Stadium (Juventus Stadium)

Stadium revenue ranking 2024

The new stadium revenue ranking shows the growing gap between the top clubs and the rest of the table. Real Madrid, with €248m, dominated the table, ahead of PSG (€170m) and Arsenal (€153m). Just behind the podium were Manchester United and Liverpool, with revenues of €152m and €132m respectively.

Deloitte ‘s report also included statistics on commercial revenues and television revenues. When all three categories are added up, one winner emerges - Real Madrid. It is the first team in history to surpass the €1bn annual revenue mark. This is more than €250m higher than the achievements of second-placed Manchester City and more than €200m higher than the combined revenues of Inter Milan and AC Milan.

Will Manchester United’s revenues also increase with the expansion of their stadium? The Premier League club is exploring options to develop Old Trafford and its surrounding area.

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