Real Madrid have become the highest revenue generating club for the first time since 2017/18, beating Manchester City in terms of overall revenue generated for 22/23. The Spanish giants earned a total of €831 million, an increase of €118 million over the last year according to Deloitte.

The news comes in spite of City’s massive treble winning season, where they lifted the Premier League, FA Cup and finally won the Champions League title. They then completed the remainder of the trophy haul by winning the UEFA Super Cup and the FIFA Club World Cup.

Real Madrid become top revenue generating club for 22/23

Real Madrid Copa del Rey Top 10 most valuable football clubs in 2023 — Via Real Madrid’s Twitter

The completion of the Nuevo Bernabeu was one of the main reasons behind the jump in revenue. With an increase in capacity, the matchday revenue has gone up significantly for Los Merengues. Moreover, they had minimal transfer activity last year, with almost no new signings made in any window.

Real Madrid now have plans to rent out their stadium for several other events such as the NFL, and concerts. This will further boost their ability to generate revenue, away from the sporting side of things.

Behind Madrid and City are PSG, Barcelona and Manchester United, completing the top five. Paris have emerged into the top three for the first time, finishing ahead of Barcelona once again.