Real Madrid takes multi-million-dollar hit in Champions League debacle

Missing out on a top-eight finish in the league phase hasn’t just damaged Real Madrid’s on-field prospects in the Champions League - it has also carried an economic cost. The club has effectively forfeited more than $10 million due to its underwhelming performance in the opening phase, and has left on the table an additional $13m that it would have secured by reaching the round of 16.

In total, that’s roughly $23m - although Madrid can still claw back more than half that amount by winning its knockout-phase playoff tie with Benfica. Los Blancos will also benefit from the ticket receipts it stands to generate from the playoff return leg at the Bernabéu.

What Real Madrid has earned so far in the UCL

Up to now, Madrid has accumulated around $46m in performance-based prize money during the 2025/26 Champions League season. About half of that comes from the $22m fixed payment issued to all 36 league‑phase participants.

Their five victories added around $12.5m (UEFA pays approximately $2.5m per win). Finishing ninth contributed another $10.5m. Madrid also collected a bonus of $1.2m for finishing between ninth and 24th.

Beyond performance‑based payouts, the club will also add revenue from the “value pillar” - the mechanism that replaced the old market pool last season. This figure depends on domestic TV‑market weight, results over the previous five seasons, and the team’s UEFA ranking over five and ten years. Using last year’s distribution model as a guide, Madrid is expected to bring in close to $47m from the value pillar.

What Madrid has lost… and what it can still recoup

Across its eight league‑phase matches, Madrid let slip just under $11m. Losses to Liverpool, Manchester City, and Benfica alone cost the club nearly $7.5m. Dropping six positions on the final matchday - starting in third and falling to ninth - cost another $2.25m. The top‑eight finish bonus, worth $2.4 million, became just $1.2 million for finishing ninth through 24th.

However, Madrid can still win back a $1.2m playoff‑winner’s bonus, plus the $13m payout if it reaches the round of 16 - money it would already have secured with a top‑eight finish. There’s also the gate revenue from hosting Benfica at the Bernabéu, a match not included in the season’s budget (the club had budgeted for a run to the quarterfinals without passing through a playoff).

Based on last season’s financial filings and UEFA’s official distribution report (to be ratified February 12), each Champions League home game generated just over $8m on average. Essentially, whatever was lost on the pitch in the league phase can be partly compensated at the ticket office.

What did Real Madrid earn in last season’s UCL?

Last season, Madrid exited the Champions League with around $120m in total revenue. They finished the league phase with numbers similar to this season (11th instead of ninth), then added the $1.2 million playoff‑victory bonus, $13m for reaching the last 16, and $15 million for a quarterfinal appearance. The value‑pillar contribution, according to UEFA’s official data, amounted to about $46.5 million.

When is Benfica vs Real Madrid?

In the opening of the knockout-phase playoffs, Benfica will host Real Madrid on Tuesday, Feb. 17, with kickoff at Da Luz scheduled for 3:00 p.m. ET/12 noon PT. The second leg, held at Madrid’s Estadio Bernabéu, will take place on Tuesday, Feb. 24, also at 3:00 p.m. ET/12 noon PT.

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