March 19 – LaLiga clubs have posted record revenues and attendances for the 2024/25 season, with the league pointing to what it sees as a steady, sustainable upswing.
The headline number of the competition’s Economic and Financial Report 2024/25 that clubs in the competition recorded €5.46 billion in total normalised revenue – up 8.1% on last year and the highest in the league’s history. Much of that growth comes from the commercial side, alongside the continued return of full stadia across Spain.
Commercial income has now cleared €1 billion for a third straight season, climbing past €1.5 billion this time around. It’s a figure LaLiga will lean on heavily, particularly as it continues its long-running effort to narrow the gap with the English Premier League having now stretched clear from the Bundesliga.
Matchday attendance numbers tell their own story. LaLiga revealed that more than 17 million fans passed through turnstiles over the season – another record – with stadiums running at 84.5% capacity in the top-flight and just under 70% in the second tier. After a few disrupted years post-COVID-19, the crowds are fully back.
Clubs are spending too – just not where they used to. Infrastructure and stadium project spending is up 12% year-on-year, part of a broader push to modernise facilities and build more reliable income streams beyond broadcasting.
LaLiga President Javier Tebas pointed to the Boost LaLiga project as a crutch for this change – designed to improve club facilities to open revenue streams beyond just matchdays.
On wages and transfers, the message remains one of restraint. Spending on squads is still below the 70% line set in line with UEFA guidelines, with LaLiga’s Economic Control system once again held up as the guardrail keeping things in check.
Tebas has long championed that model, arguing it protects clubs from themselves as much as anything else. Not everyone agrees, but the league is sticking to its line that it delivers “stability” and long-term security.
With the historic two highest spenders, FC Barcelona and Real Madrid, turning to their academy and free transfers respectively in recent seasons – it’s not a surprise that those spending figures are on the decline.
LaLiga’s report also made the usual nod to youth development. The top-flight says it still leads Europe’s top leagues when it comes to both the value and usage of academy players – a point of pride, and increasingly a financial necessity.
Looking ahead, expectations are for further growth in 2025/26, with improved margins and a continued push towards break-even across the board.
The strategy isn’t complicated: grow commercial income, keep costs under control, and invest in the basics. It might not grab headlines in the same way as the Premier League’s transfer splurges, but for LaLiga, it’s the model they believe will hold.
Contact the writer of this story, Harry Ewing, at [email protected]