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Real Madrid set historic revenue record with astonishing 2023/24 financial year

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Real Madrid have become the first club in football history to pass the €1bn mark in revenue, their official reports have confirmed.

Los Blancos are arguably in the strongest playing condition of any squad in Europe having added Kylian Mbappe to a star-studded squad this summer that already includes Vinicius Junior and Jude Bellingham among many others.

The Spanish giants’ on-field successes, which included a La Liga and Champions League double last season, have been complemented by their off-field savvy, making them renowned as one of the best-run clubs in the world.

Releasing their annual accounts for the 2023/24 financial year, a statement from Madrid reads: “Operating income (before disposal of fixed assets) for the 2023/24 financial has totalled €1.073bn, an increase of €230m (27%) compared to the 2022/23 financial year. In this period, despite the stadium not being fully operational, the club has succeeded in eclipsing the €1bn mark in operating income before disposal of fixed assets. This is an unprecedented figure for any football club. 

“Every line of business has seen growth, with the exception of broadcasting rights, where revenues received from La Liga in 2023/24 were lower than in the 2022/23 season. The gains in marketing and the stadium are particularly notable.

“From a commercial perspective, the club has significantly boosted its merchandising and sponsorship activities during the 2023/24 financial year. A substantial element in relation to the latter is the new deal with HP to be the team’s sleeve sponsor.

“As for the stadium, despite the business elements related to the remodel not being fully complete, there has been a progressive increase in terms of capacity and commercial operations over the course of the year. This saw the initiation of new business areas in the latter part of the financial cycle, in particular hosting major events and a new premium offering with new VIP experiences. 

“This has all resulted in a significant increase in stadium-related revenues, although it won’t be until the 2024/25 year that the stadium becomes fully operational in every area of business. Lastly, revenues from international competitions has seen a boost following victory in the Champions League (semi-finalists last year).”

As well as Mbappe, Brazilian prodigy Endrick has also joined the Madrid squad as they look to defend the domestic and European titles they won last season.

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GFA and Ghana Health Service launch new ambulance for Ghanaman Soccer Centre of Excellence

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The Ghana Football Association (GFA), in partnership with the Ghana Health Service, outdoored a brand new Ambulance for the GFA’s technical centre, Ghanaman Soccer Centre of Excellence (GSCE), on Monday, August 26, 2024.

The fully equipped ambulance, which will be stationed at the technical centre, will provide emergency support to the facility’s users, players and officials, and staff, in general.

The new Ambulance is expected to boost emergency healthcare services at the facility and also help to augment other efforts at improving health delivery at the Ghanaman Soccer Centre of Excellence, which serves as the camping base for the country’s various national teams.

General Secretary of the Ghana Football Association, Prosper Harrison Addo, said the new ambulance will be put to good use to serve its purpose as its adds to ongoing efforts to secure livelihoods, while praising the Ghana Health Services for their support in securing the ambulance.

“This has been achieved by the kind courtesy of a partnership between the GFA and the Ghana Health Service, which is an agency under the Ministry of Health. We are extremely grateful to them for the immense support. This ambulance will be put to good use and serve its purpose for football here in Prampram.” he concluded

President Kurt Edwin Simeon-Okraku was accompanied by General Secretary, Prosper Harrison Addo, Vice-President Mark Addo, members of the Executive Council, Member of Parliament for South Tongu, Kobla Mensah Wisdom Woyome, former Vice-Chairman of the GFA, Fred Pappoe, former General Secretary, Emmanuel Gyimah, delegates to Congress, and the media to officially outdoor the brand new ambulance.

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Nsoatreman FC to face CS Constantine in CAF Confederation Cup after dominant first-round victory

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Ghanaian club Nsoatreman FC is gearing up for a crucial showdown against Algerian side CS Constantine in the second preliminary round of the CAF Confederation Cup.

Nsoatreman FC earned their place in the competition by clinching the MTN FA Cup title last season, and they are now representing Ghana with high hopes of advancing to the group stage. In the first preliminary round, Nsoatreman displayed exceptional form, cruising to a 5-0 aggregate victory over Chad’s Elect-Sport.

Buoyed by their recent success and a celebratory message honoring their executive board chair’s birthday, the team is determined to carry their momentum into the next round.

Their upcoming opponents, CS Constantine, secured their spot in this round by defeating Rwandan side Police FC with a 4-1 aggregate score.

The tie between Nsoatreman FC and CS Constantine is set for September, with both clubs vying for a coveted spot in the CAF Confederation Cup group stage.

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NDC pledges to revitalize Ghana’s sports sector with broader focus beyond football

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The National Democratic Congress (NDC) has unveiled a comprehensive plan to transform Ghana’s sports landscape, promising a fair distribution of resources and a shift away from the long-standing emphasis on football.

Historically, Ghana’s national teams, apart from the Black Stars, have faced limited support, leading to stagnation in the growth of other sports disciplines.

The NDC aims to address this imbalance and enhance the overall development of the nation’s sporting sector, should they win the upcoming December elections.

Key highlights of the NDC’s sports policy include:

  • Financial Support for Footballers: The party plans to increase financial support for footballers at all levels, including Colts, Division One and Two, and the Ghana Premier League, by enhancing their salaries and providing additional allowances.
  • Facility Refurbishment: Immediate upgrades will be made to pitches, tracks, and other facilities at national stadia in Accra, Kumasi, Tamale, Cape Coast, and Sekondi to meet FIFA standards.
  • International Standard Stadia: The NDC intends to continue its policy of establishing state-of-the-art stadia in all regions across the country.
  • Multi-purpose Sports Facilities: New multi-purpose sports facilities will be built to encourage regional sporting events and inter-school competitions, fostering talent development.
  • Equitable Investment in National Teams: There will be a focus on investing equally in various national teams, including women’s football, parasports, juvenile teams, and lesser-known sports.
  • Modern Sports University: The NDC plans to upgrade the University of Education, Winneba (UEW) Sports College into a modern sports university, offering training in sports science, sports medicine, and sports management/administration across multiple campuses in Ghana.
  • Sports Centres of Excellence: Establishment of Sports Centres of Excellence in the northern, middle, and southern zones, in collaboration with universities and the private sector, to enhance sports training and development.
  • Support for National Athletes: The party will provide consistent support for national athletes to compete internationally and develop post-competition careers, including pension schemes.
  • Scholarships and Sports Academies: Scholarships will be offered to promising sports talents, and sports academies will be established in partnership with the private sector.
  • Support for Retired Athletes: Retired sports personalities will receive assistance in pursuing sports-related careers after their active sporting life.

These were captured in their manifesto ahead of the 2024 elections, which the party is confident its leader former President John Mahama will secure victory.

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