Mbappé's China controversy threatens Real Madrid with multimillion-euro losses

The financial fallout from Kylian Mbappé’s controversy in China is now affecting Real Madrid and its commercial revenues, after several Chinese companies terminated their contracts with the star forward. This comes amid reports that China’s state broadcaster CCTV has suspended La Liga matches.

According to Spanish daily Marca, the club could lose millions of euros due to declining income from image rights and shirt sales in the Chinese market, though the full impact remains unclear.

Financial concerns stem from clauses in Mbappé’s contract, which entitle Real Madrid to 20% of the French striker’s personal image rights revenue. Mbappé’s annual income is estimated at around 100 million euros, including 30 million euros from sponsorships. The termination of Chinese sponsorship deals could therefore affect both his commercial earnings and the club’s share of those rights.

The crisis escalated after three Chinese companies—Dongpeng Beverage Group, Mengniu Dairy, and Milkground—ended their commercial partnerships with Mbappé. The move followed comments he made about a satirical image showing his face superimposed on a figure he described as a “Chinese dictator.” Observers linked the image to former Chinese leader Mao Zedong, who founded the People’s Republic of China in 1949, sparking a wave of criticism in China.

In a further development, media reports said CCTV suspended broadcasts of La Liga matches and content featuring Mbappé, and removed advertisements and videos showing the player. If these measures continue, they could put pressure on the league’s and clubs’ commercial revenues, though the extent and duration of the losses remain uncertain.

The Chinese market is especially important for Real Madrid. Marca reported that China accounts for 10% to 15% of the club’s international merchandise sales, with Mbappé’s shirt being the top seller in the country.

The report stated: “The current crisis—pending a full assessment of the impact of Kylian’s apology—also harms Real Madrid in its local Chinese market. Between 10% and 15% of the club’s international merchandise sales come from China, and Kylian’s shirt is the best-selling product there.”

The report added: “It is currently difficult to estimate the effect these campaigns will have on Chinese consumers, including those who travel to the Santiago Bernabéu Stadium in Spain to buy the player’s shirt.”

Potential risks go beyond shirt sales and image rights, extending to television broadcast revenues. According to the report, La Liga distributed €1.432 billion among clubs, with Real Madrid receiving about €160 million last season—a figure that could be affected if the broadcast suspension impacts the league’s commercial and media income. However, there are no final figures yet on the losses the club or the league may incur.

The controversy erupted just hours after Mbappé lost the Ballon d’Or for World Player of the Year on Monday evening, despite being a strong contender, following his two goals in Real Madrid’s 2-1 El Clásico victory over Barcelona on Sunday.