On July 9, Paris Saint-Germain ended Real Madrid 's 2024-25 season . The Champions League winners thrashed the Merengues 4-0 in the semi-final of the Club World Cup. A blow for the residents of the Santiago Bernabéu stadium, who had made this competition a goal after failing to win La Liga , the Copa del Rey and the Champions League. A nearly blank year for the Casa Blanca, who won the European Super Cup and the FIFA Intercontinental Cup. Despite these below-expectation results, Real Madrid's treasury is doing well. Very well, in fact. Yesterday, the capital club published a financial report on its official website .
Real Madrid has excellent recipes
Real Madrid ends the 2024-25 financial year with a post-tax profit of €24 million. Revenue for the 2024/25 season, excluding player transfers, reached €1.185 billion, 10% more than the previous year, when the club surpassed the €1 billion mark. A first in football history. The EBITDA before disposals (€208 million) and EBITDA (€243 million) achieved during the 2024-25 financial year are the highest ever achieved by the club. The club maintains a net asset position with equity of €598 million, cash of €166 million, and net debt of €12 million (debt/EBITDA ratio 0.0x) as of June 30, 2025.
Real Madrid also clarified its sponsorship strategy. "Regarding commercial activity, during the 2024/25 financial year, the Club significantly expanded its merchandising and sponsorship activities, notably through the signing of important new sponsorship contracts." The arrival of Kylian Mbappé certainly had an impact in this regard. Regarding the stadium, the club stated: "The 2024/25 financial year was the first to not experience any availability restrictions due to construction work and to benefit from a high level of exploitation of the various recurring activities related to ticketing and commercial operations, which resulted in a significant increase in revenue."
The renovation of the Bernabéu costs more than expected
It then states: "Some activities are not yet fully exploited, in particular catering and the organization of concerts. Furthermore, the marketing of the 'personal seat licenses' product continued in 2024/25, although the revenue generated by this product was lower than in the previous year due to the marketing of a smaller number of seats. Excluding this revenue from licenses, revenue from recurring activities related to the stadium's capacity and commercial operation was 38% higher in 2024/25 than in the previous year." In the rest of the press release, the Spanish team shared various figures. And one of them caught the eye.
These are the expenses related to the renovation of the Santiago Bernabéu stadium. They amount to 1.347 billion euros. Iberian media, including Mundo Deportivo , recall that in 2018 the figure initially announced for the renovation of the stadium was 575 million euros. Since then, the 2024 Spanish and European champions have requested two new loans. The first dates from 2021 and was for an amount of 225 million euros. It was taken out for the retractable turf project that was not included in the initial plans. In 2023, the Madrid team is taking out a second loan of 370 million euros. "Real Madrid has already repaid 38 million euros of these loans, which leaves a balance of 1.132 billion euros on the principal," MD specifies . The project will be completed in 2025-26 but the Merengues have already inflated the bill to more than double the initial price.
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