European Champions Real Madrid have emerged the first football club in history to surpass €1billion ($1.085bn) in revenue a season, according to the club’s annual account for the 2023-24 season. The club’s revenue, excluding player transfers, reached €1.073bn ($1.16bn), representing a 27 per cent increase from the previous year despite ongoing stadium renovations. The team claimed to be the first football club to exceed €1bn in revenue. The basketball team also excelled, capturing the Spanish league title, King’s Cup, and Spanish Super Cup while also reaching the Euro-league finals. This represents 13 per cent of total revenues, up from 10 per cent previously.

Source: New York Times July 24, 2024 07:03 UTC