Failure to qualify for the next round of the Champions League would be an financial disaster for Real Madrid, particularly given the current fragile economic climate.
With fans not allowed into the stadium and the renovation of the Estadio Santiago Bernabeu ongoing, cash is more vital than ever for Los Blancos, and therefore they are expected to go as far as possible in Europe’s most lucrative competition.
Should they fail to pass to the knockout stages, it would be the first time in their history, and an unwanted rupture of a record at the worst possible time.
In 2018/19 season when Liverpool lifted the trophy, the Reds earned 111 million euros, semi finalists Barcelona racked up 117m euros and beaten finalists Tottenham took 101m euros.
That same season, Real Madrid picked up a healthy 85m euros despite falling in the round of 16, the same amount made by Atletico Madrid.
The coefficient based on the results of the last decade plays in Real Madrid‘s favour when it comes to the distribution of prize money, in that they are guaranteed 35 million euros compared to the 32m euros for Atletico.
The exact distribution, which also determines audiovisual rights and what each country’s TV companies pay, is not known until months after the end of each edition of the Champions League. In fact, 2019/20 winners Bayern Munich still do not know what they will earn from their success in Lisbon.
This is the famous yet mysterious ‘market pool’ which saw Spanish clubs share around 60 million euros last season.
Each victory is worth 2.7m euros and 900,000 euros for a draw. Getting to the last 16 earns them 9.5n euros, quarter finals 10.5m euros, semi finals 12m euros, the final 15m euros and 7.5m euros more for winning the trophy.
Real Madrid always include the expected amount from making the last 16 in their annual budget as it has, thus far, always been a given.
Then there’s the gate receipts that European knockout round matches at the Estadio Santiago Bernabeu bring in, which is anything between 10 and 15m euros.