Real Madrid have claimed the highest operating revenue of any sports team in history after reporting income of more than €1.2bn for last season.

The figure declared, €1.221bn, equates to £1.04bn and $1.36bn at current exchange rates and is a three per cent increase on the 2024-25 campaign. As such it surpasses the $1.23bn reported by the NFL’s Dallas Cowboys in 2024, previously viewed as a world record.

Real Madrid’s operating revenue excludes transfers, which brought in a further €40m, although they spent close to €170m. The club said they made a small profit of €26m after tax – their 26th profitable year in succession. 

It came despite a largely disappointing season on the field, as they failed to dethrone domestic rivals Barcelona in LaLiga and suffered defeat in the Champions League at the quarter-final stage.

The club’s recent revenue growth has been driven by the redevelopment of their Santiago Bernabeu stadium into a multi-use venue which hosts high-profile concerts and other non-football events outside of matchdays.

Real Madrid banks 60 per cent uplift from stadium refurb

“Real Madrid has surpassed the €1.2bn mark for the first time, a figure that no other sports entity in the world has achieved to date and which consolidates the club as the revenue leader in the sports industry,” they said.

“This growth is mainly supported by the businesses that the club directly operates: stadium revenues have increased by 11 per cent and marketing revenues by six per cent, driven by the renewal of major sponsorship contracts and the addition of new sponsors.

“Since the 2018-2019 season, revenue has grown by 61 per cent, but 93 per cent of this growth comes from revenue directly managed by the club. Stadium revenue has more than doubled compared to the 2018-2019 season, the last year before the start of construction.”

Real Madrid’s star-studded squad, which includes World Cup top scorer Kylian Mbappe and England star Jude Bellingham, contributed to staff costs of €618m, up 37 per cent since 18-19.

The supporter-owned 15-time European champions are in negotiations to renew the contract of Brazil forward Vinicius Jr amid interest from Premier League winners Arsenal.

They are also expected to complete the signing of Ivory Coast winger Yan Diomande, 19, from German club RB Leipzig for a fee in excess of €100m after a battle for the player’s signature with Paris Saint-Germain and Premier League clubs.