Real Madrid: an old-guard board running a $9.5 billion club
Real Madrid's board is packed with old-timers, but they have built the most efficient money-making machine in world sport. With an estimated value of $9.5 billion according to Forbes, the Spanish club is the fifth most valuable sports entity on the planet, surpassed only by American giants such as the Dallas Cowboys ($13 billion) or the Golden State Warriors ($11 billion). For a European football club to compete in value with NFL and NBA franchises is already a milestone; to do so with a board dismissed as old and conservative is almost a paradox.
Real Madrid's value compared to American franchises
Forbes' 2025 list of the 50 most valuable sports teams places Real Madrid in fifth place, at $9.5 billion. Ahead of it, four teams from the United States: Cowboys, Warriors, Rams and Giants. The figure debunks the myth that any second-tier American franchise is worth more than a European club. In fact, only the Cowboys are worth double Madrid, while teams like the Lakers ($10 billion) are only 5% above. The NBA, according to some analysts, has been losing audience for years, which puts its advantage into question.
Florentino Pérez vs. Riquelme: experience versus novelty
On the institutional front, Florentino Pérez's recent re-election has peine the generational debate. The current president, with decades of experience, beat the challenger Riquelme, who is seen as lacking the savvy and cunning needed to handle dressing-room egos. Some argue that Florentino has used diversion and pressure tactics — such as the rumors about Haaland — to wear down his rival. The conclusion, summed up by a veteran observer: 'Old dog, but functional'. Critics, however, see Florentino's continuity as a brake on renewal and an authoritarian drift.
A trophy-winning machine or a brand-cashing machine?
The economic record is undeniable: Madrid generates more revenue than anyone and its brand is recognized even in the most remote corners of the planet. But the question that remains is whether that financial success matches a sporting model sustainable in the long term, or whether the current board, anchored in old practices, is doomed to live off past glories. The upcoming elections, and the handling of transfers, will tell whether the 'old' trick still works or whether the generational change will prevail.
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