Real Madrid face major financial fallout as China suspends Mbappe broadcasts

The fallout from Kylian Mbappe’s controversy in China is threatening to cost Real Madrid substantial revenue, with the impact spreading beyond the player to the club and La Liga.

A video showing the Real Madrid forward joking about former Chinese leader Mao Zedong prompted widespread anger in China. Mbappe was accused of insulting national sentiment and crossing accepted boundaries when referring to historic figures.

Mbappe has apologised, as has La Liga president Javier Tebas. The league has also suffered a significant setback after Chinese broadcaster CCTV stopped showing La Liga matches, including games in which the Real Madrid striker is involved.

Mbappe signed a historic contract with Real Madrid that allows him to retain approximately 80% of the income generated from his image rights. According to Forbes, he earns about 100m euros a year, including 30m euros from sponsorship agreements.

Several Chinese companies have now ended their commercial partnerships with the player. They include Dongfeng Beverage Group and dairy companies Mengniu and Milkground. As a result, Real Madrid is likely to lose its share of the associated profits.

Impact on Real Madrid’s Chinese market

The continuing controversy, while the full effect of Mbappe’s apology is assessed, is also damaging Real Madrid’s position in the Chinese market.

Between 10% and 15% of the club’s international merchandise sales come from China, where Mbappe’s shirt is its best-selling product. Campaigns have appeared on major Chinese football forums, including Dongqiudi, explicitly calling on supporters not to buy official Mbappe merchandise.

Chinese platform RedNote has also begun removing content connected with the Real Madrid forward. The platform had previously worked with Mbappe through co-operation agreements and advertising campaigns.

The effect of those campaigns on Chinese consumers is difficult to measure. The consequences may also be felt in Spain, where supporters continue to visit Santiago Bernabeu to buy the striker’s shirt.

Reduced broadcasting income

CCTV’s decision to halt La Liga coverage could affect Real Madrid through a reduction in the competition’s overall income. That would mean less money being distributed to clubs in both the top two divisions.

Each club’s allocation is also influenced by its viewing figures. Real Madrid generated more broadcast-related revenue than Barcelona last season, making the potential reduction particularly significant for the Spanish club.

La Liga distributed 1.432bn euros, with Real Madrid receiving about 160m euros from that total. That figure is now expected to fall considerably as the dispute continues.

Racing Santander, La Liga, 01 November 2026 and Real Madrid were also listed alongside the report’s coverage of the issue.