Real Madrid announced they are the highest revenue-generating football club in the world after exceeding 1 billion in takings in the 2023-24 financial report.

Revenues for the 2023-24 campaign, not including player transfers, reached 1.073bn , 230 million more than on the previous year, a 27% increase.

The LaLiga, Champions League and Spanish Super Cup winners closed out the 2023-24 financial year with after-tax profits of 16m, 32% higher than last season.

"This is an unprecedented figure for any football club," a Real Madrid statement said. "The club maintains its sound financial status with a net equity of 574m.

"The club has continued its profitable trajectory year after year since the turn of the century.

"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."

Madrid, who signed France star Kylian Mbappé on a free transfer earlier this month after his contract with Paris Saint-Germain expired, are also forecasting record figures for the 2024-25 financial year.

The statement added: "The club expects this commercial boost to continue and grow even stronger in the 2024-25 financial year, supported by the image-related benefits derived from both the composition of the playing squad and sporting success, as well as the renovated stadium."