The NFL returns to Madrid on November 8 with a regular-season game between the Atlanta Falcons and the Cincinnati Bengals at the Santiago Bernabéu Stadium. The event represents much more than a sporting occasion: it shows how a competition can turn entertainment into a driver of commercial expansion, international visibility and economic activity. The Spanish capital is adding another major global event to a calendar that includes leading competitions in football, tennis, basketball and motorsport.
With revenues close to $22 billion, according to the reference figures provided, the NFL has established itself as one of the sports organizations with the greatest commercial reach in the world. Its model combines entertainment, centralized governance and an international strategy that allows its franchises to connect with new audiences. These characteristics offer an interesting perspective on the differences between professional sports in the United States and the structures that prevail in Spain and Latin America.
Sportainment and governance: the keys to the NFL’s economic success
One of the pillars of this model is sportainment, an approach that combines sports and entertainment to attract both dedicated fans and those seeking an experience that goes beyond the competition itself. The Super Bowl is the clearest example of this strategy: the game shares the spotlight with globally renowned musical performances, such as the Apple Music Halftime Show. This combination expands audiences, creates new opportunities for sponsors and turns each game into a far-reaching commercial platform. This is complemented by a centralized governance structure, through which the NFL coordinates many of the sporting and commercial decisions made by its franchises.
Unlike leagues with promotion and relegation, the NFL operates through a closed franchise system, which provides financial stability by limiting the uncertainty associated with remaining in the top division. This model also facilitates long-term planning and coordination of teams’ commercial interests. The league has also allowed certain investment funds, including Arctos, Ares and Sixth Street, to acquire stakes under specific conditions and participation limits. The combination of common rules, financial stability and the ability to attract capital distinguishes this system from other sports structures and helps explain why American franchises achieve such high valuations.
International expansion: Madrid as a gateway to new markets
The NFL’s international strategy seeks to turn occasional interest in its games into a sustained commercial presence. Through the Global Markets Program, franchises receive rights to develop marketing, promotional and fan engagement activities in selected markets. In Spain, the Miami Dolphins, Chicago Bears and Kansas City Chiefs are participating in the program in 2026. Official games held outside the United States complement this strategy: Madrid is part of an international schedule that also includes cities such as London, Rio de Janeiro, Melbourne, Paris and Munich. For the teams, these initiatives represent an opportunity to raise their profiles, expand their fan communities and develop new revenue streams.
The impact can also extend to the growth of the sport and the economies of host cities. Flag football, a non-contact version of American football, will become an Olympic sport at Los Angeles 2028 and offers a way to introduce the game to new participants. According to the information provided, Spain’s men’s and women’s national teams are both ranked among the world’s top ten. Economically, the NFL game held in Madrid in 2025 generated an estimated impact of €70 million, highlighting the potential of these events to boost tourism, hospitality, retail and services. The 2026 edition, featuring the Atlanta Falcons and the Cincinnati Bengals, once again puts Madrid at the center of a strategy in which sporting entertainment also serves as a tool for business expansion.
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