With a video posted on its Instagram profile, Calcio e Finanza shared a chart showing the revenue trend of Real Madrid compared with that of the top three Italian clubs by income, Milan, Inter, and Juventus. The chart makes the Spanish club’s head start, management quality, and long-term vision immediately clear, factors that over the years have turned it into Europe’s most successful team by a wide margin.
In the 2002–03 season, the year of the Champions League final in Manchester between Juventus and Milan, the two Italian sides performed better than the Blancos both on the pitch and financially. Lippi’s Juventus knocked Real Madrid out in the semifinals and closed the financial year with €218 million in revenue, ahead of Milan on €200 million. Milan, in turn, were still ahead of Real Madrid, who stood just below them with €192 million. Inter, eliminated by Milan in the semifinals, finished on €162 million.
Just seven years later, when Inter won the Treble, Real Madrid’s revenues were already almost double those of the top Italian clubs. From that point, the path gradually began that has led the Merengues to surpass one billion euros in revenue for the second consecutive season, reaching €1.185 billion to be precise.
The main source is commercial revenue. Compared with the three Italian clubs considered, Real Madrid generate almost €500 million, against €152 million for Milan, the strongest of the Italian sides. The Blancos also earn more than double the best Italian club from both their main sponsor and their technical sponsor. They receive €70 million from Emirates, the same sponsor as Milan, which pays the Rossoneri €21 million per year, and €121 million from Adidas, which pays Juventus €46 million for kit sponsorship.
The second-largest item in the accounts is broadcasting rights. La Liga earns more from television than Serie A, and its revenue distribution system is more favorable to top clubs than the Italian one. Real Madrid collect €374 million from TV rights, compared with €264 million for Inter, €177 million for Juventus, and €154 million for Milan.
AC Milan's new stadium:
Stadium revenues are striking. From season tickets and matchday ticket sales at the Bernabéu alone, Real Madrid recorded around €230 million in income, almost as much as the entire turnover, including capital gains, of Napoli in their most recent title-winning season, about €290 million as of 30 June 2025. Inter, the leading Italian club for matchday revenue, generated €98.8 million, Milan €65.4 million, and Juventus €69.5 million.
Player-related revenues:
This is the only area where the Italian clubs performed better. Real Madrid often buy star players rather than sell them. As a result, with the exception of Inter, who sold little last year and earned only €21.4 million, Milan and Juventus generated more than three times the Blancos’ figures. Real Madrid posted €28.4 million, Milan: €83.1 million, and Juventus €110 million.
Source: Milannews.it
