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Real Madrid top Forbes list: How much is the club worth?

Real Madrid are currently undergoing an $850 million stadium renovation but have acquired new sources of revenue in recent weeks.

Kieran Quaile
El Real Madrid, vigente campeón de Liga y de Europa, volverá al trabajo el próximo 8 de julio a entrenar en Valdebebas.

Real Madrid recently won their 35th league title, generating the most revenue in LaLiga thanks to their success. Winning the domestic title and qualifying for a record eighth Champions League final against Liverpool has seen Madrid earn over $100 million, according to Forbes.

Off the field, Los Blancos have also found new sources of revenue. The Spanish giants are currently undergoing an $850 million stadium renovation, but recently secured $379 million as part of an agreement with Sixth Street and Legends in which Sixth Street “acquired the right to participate in the operation of certain businesses of the new Santiago Bernabéu stadium for a period of twenty years”.

The strategic partnership with investment firm, Sixth Street, and premium experiences company, Legends, will see the Bernabéu transform into one of the world’s finest venues for sports and entertainment.

The club announced the following on its website: “The Board of Directors of Real Madrid C.F. at its meeting yesterday ratified an agreement with Sixth Street, an investment firm, and Legends, a premium experiences company for sports and live venue organizations, with the objective of elevating the Santiago Bernabéu Stadium as a unique venue and a worldwide benchmark for leisure and entertainment.”

To pay for the Santiago Bernabéu renovation, Madrid borrowed an additional $236 million from JP Morgan and Bank of America last November, bringing total borrowings from the banks to $842 million.

Champions League success

Real Madrid clinched a record 14th Champions League title after beating Liverpool in the final in Paris. The two Champions League finalists in 2022 reportedly received $17.5 million in prize money for reaching the final of the competition. Madrid also picked up an extra $5.1 million due to qualifying for August’s UEFA Super Cup, a one-off final which will pit Real Madrid, the recently-crowned European champions, against Europa League winners Eintracht Frankfurt.

The last time Real Madrid held the top spot on the Forbes list was in 2019 (Forbes did not compile soccer team values in 2020). Real Madrid are currently worth $5.1 billion, 7% more than last year, making the Spanish outfit the world’s most valuable soccer team.

Barcelona second most valuable team

LaLiga runners-up and Madrid rivals Barcelona are the second most valuable soccer team in the world. Worth $5 billion, 6% more than a year ago, Barcelona are tied with the NFL’s New England Patriots as the seventh most valuable team in any sport.

Manchester United are currently third on the list, up 10% to $4.6 billion. A large part of the Premier League side’s revenue is down to the large fanbase and popularity of the club. United earned $128 million in operating income during 2020-21, however, they were eliminated in the Champions League round of 16 this year and their sixth-place finish in the Premier League this season means they will miss out on Champions League prize money in 2022-23.