Real Madrid have solidified their financial dominance in global football, with their valuation soaring to €6.3 billion as of January 2025 — a 23% year-on-year increase — according to Football Benchmark’s latest annual report. The surge is largely credited to the €1.76 billion revamp of their iconic Santiago Bernabeu stadium and high-profile signings like Kylian Mbappe and Jude Bellingham.
Their valuation now rivals that of major U.S. sports franchises. For comparison, the NFL’s San Francisco 49ers were recently valued at US$8.5 billion in a minority stake sale, while the Boston Celtics are being sold for around US$6.1 billion.
Club president Florentino Perez believes Real Madrid, 15-time European champions, are worth over €10 billion. The club remains a non-profit institution owned collectively by its members, preventing private investment or shareholding.
Meanwhile, Manchester United continue to fall behind. Once football’s most valuable club, United’s valuation rose just 4% to €5.05 billion. Mounting staff costs — up 15% — and a net loss of €132 million, second only to Juventus among Europe’s top clubs, have hindered growth. A poor season, capped by a 1-0 Europa League final loss to Tottenham and a 15th-place Premier League finish, means United will miss out on European competition for the first time in a decade. New part-owner Jim Ratcliffe is now focused on drastic cost-cutting measures.
Over the last 10 years, United’s value has grown just 74% — the second-lowest increase among Europe’s top 10 clubs. By contrast, Paris Saint-Germain, backed by Qatari investment, have seen a 346% rise to €3.76 billion, while Inter Milan’s value jumped 330% in the same period.
Chelsea, under Todd Boehly and Clearlake Capital, dropped to 10th in the valuation rankings, while Arsenal climbed to seventh. As of 2025, 17 European clubs are now valued above €1 billion — up from only eight in 2016.
