July 26 – Real Madrid has reported a 27% rise in operating income for the 2023/24 financial year to €1.073 billion, an increase of €230 million and making it the first football club to break the €1 billion mark.
Revenue performance was helped substantially by on-field performance with the first team winning the Champions League for the sixth time, as well as the LaLiga title and the Spanish Super Cup.
The club said that this was achieved without the newly renovated Bernabeu Stadium still not having reached full operational capacity.
The revenue growth was accompanied by a rise in operating expenses and personnel costs, particularly as regards win bonuses, but the club still reported an operating profit before disposal, tax, interest and depreciation (EBITDA before disposal) of €144 million. This figure is 71% higher than the previous year’s €84 million and the club pointed out equates to 13% of revenue.
Profit after-tax was €16 million, 32% higher than the previous year.
“Every line of business has seen growth, with the exception of broadcasting rights, where revenues received from LaLiga in 2023/24 were lower than in the 2022/23 season. The gains in marketing and the stadium are particularly notable,” said the club.
The reference to lower broadcast revenues from LaLiga is an open sore in Spanish football in terms of the ongoing disagreements between Real Madrid and LaLiga over centralised broadcast sales and revenue distribution, as well as Real Madrid’s vehement opposition to LaLiga’s private equity partnership with CVC and the creation of LaLiga.
In that respect the club still remains something of a pariah within the game both domestically over its refusal to show solidarity within the Spanish professional game, and internationally over its insistence that a European Super League is still the best way forward for Europe’s top clubs.
Despite the club’s thirst for more money and the insistence of its president Florentino Perez…
Author : Paul Nicholson
Publish date : 2024-07-26 11:26:21
Copyright for syndicated content belongs to the linked Source.
—-
Author : soccernews
Publish date : 2024-07-26 11:39:46
Copyright for syndicated content belongs to the linked Source.