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With football game attendance on the rise, it is easy to think that fans are more engaged than ever. Season ticket waiting lists are a mile long, and fans are further interested through betting sites, which often offer free bets. But just how much revenue do the world’s most valuable football teams lose at every home game due to empty seats?
We took a list of Forbes' world’s most valuable football teams and explored a range of factors, including match-day revenue, average attendance levels between 2023 and 2024, and home stadium capacity. Using these figures, we determined how much money teams are losing due to empty seats. We also looked at annual search volumes for football teams with the most in-demand tickets.
Atletico de Madrid is losing out on the most money from empty seats, with estimated losses of almost £32 million in 2024
1. Atletico de Madrid, Civitas Metropolitano
Empty seat cost score: 8.95 /10
Atletico de Madrid lost the most money on empty seats in the 2023/24 season, with average attendance figures at 59,731, which is a little below 11,000 short of the stadium’s maximum capacity.
Metropolitano Stadium, also referred to as Cívitas Metropolitano for sponsorship reasons, in Madrid, has been the home stadium of Atlético Madrid since the 2017/18 season. So far this season, the club has fallen short of maxing out its capacity on matchdays and missed out on approximately £31.6 (€37.4) million during the 2023/24 season.
2. Liverpool, Anfield
Empty seat cost score: 7.24 /10
Liverpool is second among teams that lost out on the most revenue due to empty seats during the 2023/24 season. Anfield, which was originally the ground of Merseyside rivals Everton [1884 to 1891] until a dispute over rent, had a capacity of 60,725 during the 2023/24 season. However, the upper tiers of the Anfield Road stand were closed during the season, which impacted attendance numbers, as expansion works were happening to increase the stadium capacity to 61,276.
Liverpool averaged 5,206 empty seats each game during the 2023/24 season including during the Premier League, which was club legend Jurgen Klopp’s final season as manager. This means that they missed out on around £42.2 (€50.0) million in matchday revenue over the course of the season.
3. Real Madrid, Santiago Bernabéu
Empty seat cost score: 7.24 /10
Sharing second place with Liverpool are European giants Real Madrid, of who, during the 2023/24 season, managed an average attendance of 72,061 at the Santiago Bernabéu. As such, attendance figures suggest that 8,983 of the 81,044 seats in the La Liga stadium were empty. The Santiago Bernabéu’s only nine in ten (88.92%) seats being full on average, saw the club miss out on approximately £84.8 (€100.5) million in matchday revenue during the season.
The Santiago Bernabéu also went through massive renovations over the last couple of years, adding the new East Stand and a fully retractable roof to keep rain off the pitch and stands. For a large part of the season, some of the lower stands had covered seats, rendering them unusable as the renovations were being carried out even into late 2023.
Rank | Team | Home stadium | Country | Matchday revenue (£) | Full stadium matchday revenue (£) | Lost revenue through empty seats (£) | Average home match attendance 23/24 | Average home match attendance (%) | Stadium Capacity | Average home match empty seats | Annual global searches | Empty seat cost score (/10) |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Atletico de Madrid | Civitas Metropolitano | Spain | £176.3M | £207.9M | £31.6M | 59,731 | 84.77% | 70,460 | 10,729 | 213.2K | 8.95 |
2 | Real Madrid | Santiago Bernabéu | Spain | £680.5M | £765.3M | £84.8M | 72,061 | 88.92% | 81,044 | 8,983 | 1.9M | 7.24 |
2 | Liverpool | Anfield | England | £479.7M | £521.9M | £42.2M | 55,809 | 91.90% | 60,725 | 4,916 | 1.4M | 7.24 |
4 | Juventus | Allianz Stadium | Italy | £198.2M | £209.1M | £10.9M | 39,345 | 94.79% | 41,507 | 2,162 | 250.2K | 6.71 |
5 | AC Milan | Stadio Giuseppe Meazza (San Siro) | Italy | £205.5M | £216.6M | £11.1M | 72,000 | 94.83% | 75,923 | 3,923 | 629.7K | 6.45 |
6 | Tottenham Hotspur | Tottenham Hotspur Stadium | England | £484.2M | £495.1M | £10.9M | 61,459 | 97.79% | 62,850 | 1,391 | 153.1K | 6.19 |
7 | Inter Milan | Stadio Giuseppe Meazza (San Siro) | Italy | £163.5M | £170.3M | £6.9M | 72,838 | 95.94% | 75,923 | 3,085 | 256.5K | 6.05 |
8 | Fulham FC | Craven Cottage | England | £43.5M | £46.0M | £2.5M | 24,301 | 94.56% | 25,700 | 1,399 | 269.8K | 5.79 |
9 | Paris Saint-Germain | Parc des Princes | France | £637.7M | £656.4M | £18.7M | 47,199 | 97.15% | 48,583 | 1,384 | 375.2K | 5.66 |
10 | Manchester City | Etihad Stadium | England | £350.6M | £361.9M | £11.3M | 53,288 | 96.86% | 55,017 | 1,729 | 908.7K | 5.53 |
11 | Crystal Palace | Selhurst Park | England | £38.2M | £40.0M | £1.8M | 24,881 | 95.52% | 26,047 | 1,166 | 183.5K | 5.26 |
12 | Chelsea | Stamford Bridge | England | £322.3M | £332.7M | £10.4M | 39,576 | 96.87% | 40,853 | 1,277 | 879.6K | 4.34 |
13 | Manchester United | Old Trafford | England | £916.6M | £933.2M | £16.7M | 73,534 | 98.20% | 74,879 | 1,345 | 1.9M | 4.21 |
13 | Brighton & Hove Albion | AMEX Stadium | England | £60.3M | £60.8M | £460.1K | 31,543 | 99.19% | 31,800 | 257 | 22.4K | 4.21 |
15 | Newcastle United | St James' Park | England | £81.7M | £82.0M | £237.8K | 52,153 | 99.65% | 52,338 | 185 | 126.5K | 3.42 |
16 | Aston Villa | Villa Park | England | £49.6M | £50.5M | £859.3K | 41,921 | 98.22% | 42,682 | 761 | 519.1K | 3.16 |
17 | West Ham United | London Stadium West Ham United | England | £128.3M | £128.4M | £60.9K | 62,440 | 99.90% | 62,500 | 60 | 46.6K | 2.76 |
18 | Arsenal | Emirates Stadium | England | £393.4M | £396.4M | £3.0M | 60,236 | 99.23% | 60,704 | 468 | 1.6M | 2.50 |
19 | Borussia Dortmund | Signal Iduna Park | Germany | £244.4M | £244.5M | £99.1K | 81,305 | 99.93% | 81,365 | 60 | 169.0K | 2.37 |
20 | Bayern Munich | Allianz Arena | Germany | £549.9M | £550.0M | £101.0K | 75,000 | 99.97% | 75,024 | 24 | 230.9K | 1.84 |
Atletico de Madrid has the most empty seats, with more than 10,000 empty at the Civitas Metropolitano
1. Atletico de Madrid, Civitas Metropolitano
Average home match empty seats: 10,729
The team that’s losing the most money to empty seats is also the team with the most empty seats during home games. On average, during the 2023/24 season, the Civitas Metropolitano had more than 10,000 empty seats. Their smallest home game attendance for the season was against Rayo Vallecano in La Liga, a game Atletico won 2-1 after a late goal from Memphis Depay.
2. Real Madrid, Santiago Bernabéu
Average home match empty seats: 8,983
The Santiago Bernabéu, home of Real Madrid, is the stadium with the second-highest number of empty seats. Their smallest home game attendance during the season was in a La Liga game against Las Palmas, where 65,017 spectators watched Madrid win 2-0. Since the Bernabéu has a capacity of 81,044, there were more than 15,000 empty seats that game.
3. Liverpool, Anfield
Average home match empty seats: 5,206
And in third place, we have Liverpool, with Anfield having an average of 5,206 empty seats during the 2023/24 season. As previously mentioned, the upper tier of the Anfield Road stand was closed for the majority of the season, only opening back up for their final home game against Wolverhampton.
Rank | Team | Home stadium | Country | Average home match attendance 23/24 | Average home match attendance (%) | Stadium Capacity | Average home match empty seats |
---|---|---|---|---|---|---|---|
1 | Atletico de Madrid | Civitas Metropolitano | Spain | 59,731 | 84.77% | 70,460 | 10,729 |
2 | Real Madrid | Santiago Bernabéu | Spain | 72,061 | 88.92% | 81,044 | 8,983 |
3 | Liverpool | Anfield | England | 55,809 | 91.90% | 60,725 | 4,916 |
4 | AC Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 72,000 | 94.83% | 75,923 | 3,923 |
5 | Inter Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 72,838 | 95.94% | 75,923 | 3,085 |
6 | Juventus | Allianz Stadium | Italy | 39,345 | 94.79% | 41,507 | 2,162 |
7 | Manchester City | Etihad Stadium | England | 53,288 | 96.86% | 55,017 | 1,729 |
8 | Fulham FC | Craven Cottage | England | 24,301 | 94.56% | 25,700 | 1,399 |
9 | Tottenham Hotspur | Tottenham Hotspur Stadium | England | 61,459 | 97.79% | 62,850 | 1,391 |
10 | Paris Saint-Germain | Parc des Princes | France | 47,199 | 97.15% | 48,583 | 1,384 |
11 | Manchester United | Old Trafford | England | 73,534 | 98.20% | 74,879 | 1,345 |
12 | Chelsea | Stamford Bridge | England | 39,576 | 96.87% | 40,853 | 1,277 |
13 | Crystal Palace | Selhurst Park | England | 24,881 | 95.52% | 26,047 | 1,166 |
14 | Aston Villa | Villa Park | England | 41,921 | 98.22% | 42,682 | 761 |
15 | Arsenal | Emirates Stadium | England | 60,236 | 99.23% | 60,704 | 468 |
16 | Brighton & Hove Albion | AMEX Stadium | England | 31,543 | 99.19% | 31,800 | 257 |
17 | Newcastle United | St James' Park | England | 52,153 | 99.65% | 52,338 | 185 |
18 | West Ham United | London Stadium West Ham United | England | 62,440 | 99.90% | 62,500 | 60 |
18 | Borussia Dortmund | Signal Iduna Park | Germany | 81,305 | 99.93% | 81,365 | 60 |
20 | Bayern Munich | Allianz Arena | Germany | 75,000 | 99.97% | 75,024 | 24 |
Bayern Munich have the most packed stadium, with an average of just 24 empty seats at the Allianz
1. Bayern Munich, Allianz Arena
Average home match empty seats: 24
Bayern Munich are the team with the fewest empty seats, as the Allianz Arena averaged just 24 empty seats during the 2023/24 season. Each of their home games was reported to have an attendance of 75,000 during the season, just 24 seats short of a full house for the Bundesliga giants.
2. West Ham United, London Stadium
Average home match empty seats: 60
Premier League team West Ham United takes second place. Their stadium, aptly named the London Stadium, had an average of 60 empty seats during the 2023/24 season. They recorded multiple high attendances during the season, including the second leg of their Europa League semi-final game against Bayern Leverkusen, which had an attendance of 62,473, leaving just 27 seats vacant.
2. Borussia Dortmund, Signal Iduna Park
Average home match empty seats: 60
Sharing second place with West Ham is Borussia Dortmund, a club with a great reputation for its stadium’s atmosphere, created by its fans and known as “The Yellow Wall.” Their ground, the Signal Iduna Park, also known as Westfalenstadion, is the third-largest stadium among top-flight European clubs, after the Camp Nou and Santiago Bernabéu. Their average attendance of 81,305 beats the record for average stadium attendance among European clubs, which Borussia Dortmund previously set in 2011/12.
Rank | Team | Home stadium | Country | Average home match attendance 23/24 | Average home match attendance (%) | Stadium Capacity | Average home match empty seats |
---|---|---|---|---|---|---|---|
1 | Bayern Munich | Allianz Arena | Germany | 75,000 | 99.97% | 75,024 | 24 |
2 | West Ham United | London Stadium West Ham United | England | 62,440 | 99.90% | 62,500 | 60 |
2 | Borussia Dortmund | Signal Iduna Park | Germany | 81,305 | 99.93% | 81,365 | 60 |
4 | Newcastle United | St James' Park | England | 52,153 | 99.65% | 52,338 | 185 |
5 | Brighton & Hove Albion | AMEX Stadium | England | 31,543 | 99.19% | 31,800 | 257 |
6 | Arsenal | Emirates Stadium | England | 60,236 | 99.23% | 60,704 | 468 |
7 | Aston Villa | Villa Park | England | 41,921 | 98.22% | 42,682 | 761 |
8 | Crystal Palace | Selhurst Park | England | 24,881 | 95.52% | 26,047 | 1,166 |
9 | Chelsea | Stamford Bridge | England | 39,576 | 96.87% | 40,853 | 1,277 |
10 | Manchester United | Old Trafford | England | 73,534 | 98.20% | 74,879 | 1,345 |
11 | Paris Saint-Germain | Parc des Princes | France | 47,199 | 97.15% | 48,583 | 1,384 |
12 | Tottenham Hotspur | Tottenham Hotspur Stadium | England | 61,459 | 97.79% | 62,850 | 1,391 |
13 | Fulham FC | Craven Cottage | England | 24,301 | 94.56% | 25,700 | 1,399 |
14 | Manchester City | Etihad Stadium | England | 53,288 | 96.86% | 55,017 | 1,729 |
15 | Juventus | Allianz Stadium | Italy | 39,345 | 94.79% | 41,507 | 2,162 |
16 | Inter Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 72,838 | 95.94% | 75,923 | 3,085 |
17 | AC Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 72,000 | 94.83% | 75,923 | 3,923 |
18 | Liverpool | Anfield | England | 55,809 | 91.90% | 60,725 | 4,916 |
19 | Real Madrid | Santiago Bernabéu | Spain | 72,061 | 88.92% | 81,044 | 8,983 |
20 | Atletico de Madrid | Civitas Metropolitano | Spain | 59,731 | 84.77% | 70,460 | 10,729 |
Fans search for Real Madrid tickets the most, with almost 1.9 million annual Google searches
1. Real Madrid, Santiago Bernabéu
Number of annual searches: 1,896,500
When it comes to tickets that fans want to get their hands on among the most valuable football teams in the world, Real Madrid is at the pinnacle. Between September 2023 and August 2024, there were almost 1.9 million Google searches for “Real Madrid tickets.”
2. Manchester United, Old Trafford
Number of annual searches: 1,863,000
Despite a rather tumultuous season, Manchester United takes the second spot for the most searched-for tickets in the last 12 months. The club saw a huge string of inconsistencies in performances during the 2023/24 season, recording their worst-ever performance in a Champions League group stage but then beating Manchester City 2-1 in the FA Cup final. Talk of a new Man Utd manager is on the table.
3. Arsenal, Emirates Stadium
Number of annual searches: 1,596,500
And rounding out the top three most desired tickets among football's highest-valued clubs, we have Arsenal, with almost 1.6 million Google searches over the last 12 months. They finished last season as runners-up to Manchester City in the Premier League title race but have begun the 2024/25 season strong in an attempt to push City for the title again.
Rank | Team | Home stadium | Country | Annual global searches |
---|---|---|---|---|
1 | Real Madrid | Santiago Bernabéu | Spain | 1.90M |
2 | Manchester United | Old Trafford | England | 1.86M |
3 | Arsenal | Emirates Stadium | England | 1.60M |
4 | Liverpool | Anfield | England | 1.43M |
5 | Manchester City | Etihad Stadium | England | 908.7K |
6 | Chelsea | Stamford Bridge | England | 879.6K |
7 | AC Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 629.7K |
8 | Aston Villa | Villa Park | England | 519.1K |
9 | Paris Saint-Germain | Parc des Princes | France | 375.2K |
10 | Fulham FC | Craven Cottage | England | 269.8K |
11 | Inter Milan | Stadio Giuseppe Meazza (San Siro) | Italy | 256.5K |
12 | Juventus | Allianz Stadium | Italy | 250.2K |
13 | Bayern Munich | Allianz Arena | Germany | 230.9K |
14 | Atletico de Madrid | Civitas Metropolitano | Spain | 213.2K |
15 | Crystal Palace | Selhurst Park | England | 183.5K |
16 | Borussia Dortmund | Signal Iduna Park | Germany | 169.0K |
17 | Tottenham Hotspur | Tottenham Hotspur Stadium | England | 153.1K |
18 | Newcastle United | St James' Park | England | 126.5K |
19 | West Ham United | London Stadium West Ham United | England | 46.6K |
20 | Brighton & Hove Albion | AMEX Stadium | England | 22.4K |
Methodology
We took the most valuable football teams in the world according to Forbes’ World’s Most Valuable Soccer Teams.
Using Transfermarkt, we found each team’s average 2023/24 attendance. We used the same source to find each team's home stadium’s capacity and calculated the percentage difference.
We then used Forbes’ World’s Most Valuable Soccer Teams to find each team’s matchday revenue for the 2022-23 season and applied the percentage above to estimate how much the revenue could potentially have been had the stadium been full for every game.
To convert the currencies from USD to GBP and EUR, we used Google Finance. All currency conversions were done on 10/09/2024.
We also used Google Ads Keyword Planner to determine each team's number of searches for “[Team] tickets” between September 2023 and August 2024.
NOTE: The following teams had partially closed stadiums (stand(s) closed) during the 2023/24 season; Liverpool, Real Madrid, Barcelona, Juventus, Fulham FC.
All data was collected on 10/09/2024 and is correct as of then.
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