Real Madrid closed the 2024/25 financial year with a net profit of €24 million and operating revenue of €1.1 billion, excluding player-transfer income. The club said the figure is its highest ever and reflects growth in ticketing, commercial partnerships and match-day activities made possible by the partial reopening of the revamped Santiago Bernabéu stadium. The annual report, released on 17 July, also puts the cumulative cost of the Bernabéu renovation at €1.347 billion as of 30 June 2025. Real Madrid has drawn the full €1.170 billion stadium loan agreed in 2019 and has begun repaying principal, reducing the outstanding balance to €1.132 billion after amortising €38 million over the past two seasons. Work on acoustic upgrades and hospitality areas is scheduled to finish in the 2025/26 season, after which the club plans to expand non-football events such as concerts and an NFL game to further diversify revenue.