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Real Madrid have announced world-record revenues for a soccer club for the third consecutive year, despite enduring another trophy-free campaign in 2025–26.
In a statement issued on Tuesday, the Spanish giants reported operating revenues of €1.221 billion ($1.39 billion) for 2025–26. The figures represent a 3.1% rise compared to the 15-time European champions' earnings from the previous year. It also marks the third straight year the club has surpassed the €1 billion ($1.14 billion) threshold—each time setting a new benchmark in world soccer.
Even more strikingly, Madrid claim that by crossing the €1.2 billion mark, the club has achieved world-record revenue levels across all sports globally.
"Real Madrid thus passes the 1,200 million euro barrier for the first time, a figure no other sports organization in the world has achieved to date and one that confirms the club as the revenue leader of the sports industry," the statement reads.
For context, the Dallas Cowboys—long considered the highest-earning sports organization in the world—generated an estimated $1.2 billion in 2024.
The NFL's Cowboys top Forbes' renowned rankings of the world's most valuable sports teams in 2025, with an estimated worth of $13 billion. Madrid, meanwhile, sit 20th—though this is not solely determined by revenue. Regardless of whether the Spanish club's latest figures represent a genuine sporting milestone, the numbers remain extraordinary, particularly given the club's recent struggles on the field.
As noted by The Athletic, Premier League champions Arsenal, by comparison, are projected to lead England's revenue charts for 2025–26 with approximately £800 million (€934 million, $1.06 billion).
Madrid's report also claims the highest EBITDA (earnings before interest, taxes, depreciation and amortization) in the club's history at €287.4 million ($327 million), with the costly renovation of the Santiago Bernabéu Stadium playing a key role in their record-breaking year, as 'stadium revenue' was recorded at €363 million (€413 million)—more than double the figure from the previous year.
Heavy Investment Continues as Club Chases On-Pitch Success
On the pitch, 2025–26 marked Real Madrid's second successive season without a major trophy, while manager Xabi Alonso departed in January and was succeeded by Álvaro Arbeloa.
A season that concluded with internal discord and disappointment has ushered in a summer of change, with José Mourinho appointed to steady the ship and restore standards at Europe's most decorated club.
As emphasized in Madrid's statement, "all profits are reinvested in the club," and the benefits of the record revenues are being channeled into the squad, with player-related expenditure rising by 14 percent last season.
Approximately €161 million ($181 million) was spent on new arrivals including Dean Huijsen, Álvaro Carreras, Trent Alexander-Arnold and Franco Mastantuono in 2025–26, while this summer has already seen the club spend around €75 million ($85 million) on incoming signings Marc Cucurella, Bernardo Silva, Ibrahima Konaté and Denzel Dumfries, with further additions anticipated.
Teenage winger Yan Diomande is set to join imminently in a deal valued at well over €100 million ($113 million), while talks are ongoing to secure Manchester City's Rodri, who is valued at around €50 million ($56 million).