Real Madrid continues to strengthen its position as one of the most powerful sports organizations in the world, not only because of its success on the field but also due to the strength of its financial management. The Spanish club announced that it closed the 2025/26 financial year with €1.221 billion in operating revenue, an unprecedented figure that, according to the institution, has never before been achieved by any other sports entity. In addition, it reported a net profit of €26.3 million, an 8% increase compared to the previous season.
The figures reflect sustained growth that goes far beyond sporting results. The Madrid-based club states that the strength of its economic model is built primarily on its ability to generate revenue through businesses managed directly by the club, from the operation of the renovated Santiago Bernabéu to the expansion of its commercial partnerships. This approach has enabled it to maintain a constant reinvestment strategy in infrastructure, technology, and sports squads while preserving one of the strongest financial positions in the global sports industry.
An economic model driven by self-generated revenue
The financial report presented by the board of directors highlights that Real Madrid’s growth in recent years has been largely driven by the exploitation of its own assets. Since the 2018/19 season, operating revenue has increased by 61%, with 93% of that growth coming from activities managed directly by the club. Among the main drivers are stadium-related revenues, which have doubled compared to the period before the renovation, posting 107% growth, along with a 6% increase in marketing revenue, fueled by renewed sponsorship agreements and the addition of new commercial partners.
The improvement is also reflected in the club’s key profitability indicators. EBITDA reached €287.4 million, an 18% increase over the previous financial year, while EBITDA before asset disposals climbed to €242.9 million, another all-time high for the club. These results are complemented by a contribution of €354.8 million in taxes and social security payments during the 2025/26 financial year, reinforcing the club’s economic impact beyond sporting activity.
Reinvestment as the cornerstone of the club’s growth
One of the defining features of Real Madrid’s model is its ownership structure. As a club owned by its members, it does not distribute dividends or receive external capital contributions, meaning that all profits are reinvested into the institution’s development. This strategy has financed the transformation of the Santiago Bernabéu, whose renovation has accumulated an investment of €1.4077 billion, while also allocating €192 million during the last financial year to facilities, technology platforms, and the strengthening of its sports squads.
The investment policy is also evident in the club’s sporting strategy. During the 2025/26 season alone, the club invested €161 million in new player signings while keeping personnel expenses at 46% of revenue, below the 50% threshold that the institution considers a benchmark of financial excellence. This is supported by a strong financial position, with shareholders’ equity of €624 million, cash reserves of €83 million, and net debt of just €9 million—excluding the stadium project—along with €475 million in unused credit facilities.
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