Real Madrid break football record, become first ever team to surpass €1 billion in revenue
Real Madrid has broken a football record by becoming the first-ever team to cross €1 billion in revenue. Los Blancos' revenues for the 2023-24 season recorded €1.073 billion exclusive of player transfers, which is about 27% more than last year.
The Real Madrid Board of Directors met on July 23 and prepared the annual accounts for the 2023-2024 financial year. The Spanish giants have made €16 million in profit for the 2023-24 season while maintaining their financial status with a net equity of €574 million.
The club's first team won the UEFA Champions League for the sixth time in the 2014-2024 period, along with the La Liga title and the Spanish Super Cup. Their basketball first team also won the League, the Copa del Rey, and the Spanish Super Cup, while being runners-up in the EuroLeague.
These achievements added to the club's improved revenues, along with higher costs, specifically with regard to sports squad bonuses.
Real Madrid's contribution to tax revenues and social security in the 2023-24 financial year amounted to €277.1 million euros and they closed this period with after-tax profits of €16 million euros, 32% (€12 million) higher than the previous year.
After providing a detailed view of the 2023-24 financial year, a club statement concluded:
"On the pitch, the club intends to continue strengthening and developing its sporting model, aimed at continued successes in both football and basketball. This has distinguished the club throughout its history, and in recent years, in particular. The most notable aspect in this regard is the signing of Kylian Mbappé by the football first team, starting from the 2024/25 season."
Kylian Mbappé, whose contract with the Spanish giants is valid until June 2029, will reportedly earn an annual salary of between €15 million and €20 million and a whopping signing-on bonus of €125 million.
Carlo Ancelotti opens up about Kylian Mbappe's position in Real Madrid XI
Kylian Mbappé signed a five-year contract with Real Madrid on June 3 and was presented at the Santiago Bernabeu on July 16.
His presentation at Real Madrid was attended by 80,000 fans, which is the same as that of Cristiano Ronaldo, who joined the La Liga giants from Manchester United in 2009 for a then world record £80 million.
With Los Blancos already having a star-studded attack, head coach Carlo Ancelotti was asked about where and how is he planning to use Kylian Mbappe in Real Madrid XI. Speaking to the press at the Giffoni Film Festival, the Italian manager said (via GOAL):
"It is my responsibility to find a place for Mbappe. We'll find a place for him, we'll squeeze him in."
The France national team captain has received the No. 9 shirt and became the first Los Blancos player to wear this number since Karim Benzema.