The economic recovery of the women's national team after the Rubiales earthquake: "Brands were fleeing the noise"

Spain has only played in one Euro 2017 semi-final. It was in 1997, in Sweden, with kits loaned by the men's national team to amateur players who took time off from work to play, and the only visible support from Spanish Television . Women's football in Spain was marginal for fans and brands; even the RFEF considered it an obligation to which little attention was paid. Twenty-eight years have passed since then, and now that Spain will be looking to reach the European semi-finals again on Friday, the national team is starting to become a goldmine.

Sponsorships have grown, with brands seeking to partner with figures such as Alexia Putellas and Aitana Bonmatí , world stars with their three Ballon d'Ors, but also with emerging stars Salma Paralluelo and Vicky López , two stars who connect with millennial audiences. And sporting performance is starting to generate revenue for the Federation. The group stage of this Euro and qualification for the quarterfinals generated € 2.6 million : €1.8 million for participation, €300,000 for each victory, and €550,000 for qualification. If the national team wins, it will earn a total of €5.1 million, 156% more than England earned in 2022, but slightly less than the €9 million earned by the World Cup. However, the players will share €2 million in bonuses , almost ten times more than in 2023 (€248,000).

The figures are still far from the 41.8 million euros that Spain pocketed for lifting the European Championship trophy in Germany, but the Federation's budget is very close in 2025: 15.7 million euros for the men's team, and 13.1 million euros for the women's team.

Larger audiences

The national team's winning momentum also has another impact on the bottom line: it's attractive to the public. Live, they fill stadiums at the European Championships and far exceed the average of 20,000 viewers in the final qualifying round for the Nations League finals. On television , which accounts for 29% of the RFEF's revenue, the World Cup final in Australia and New Zealand set a record of 5.6 million viewers on average and a 65.7% audience share. The 2024 Nations League final against France was watched by 1.9 million, and in the qualifying round for this European Championship, broadcast on TVE's La 1 channel, the figure has been around two million.

The debut against Portugal was watched by an average of 1.7 million viewers, with a 17.5% share. The match against Belgium, at 6 p.m., was the most-watched program on La 1 that day, with an average of 1.4 million viewers. The match against Italy was again the most watched, with a 20.7% share and 1.8 million viewers. Nearly one in four people who sat in front of the television that night wanted to see Montse Tomé's team in action.

That visibility has also attracted brands, especially in the last year. The World Cup should have been a commercial boost, but it was overshadowed by the storm unleashed by Luis Rubiales ' attack on Jenni Hermoso . "Brands were avoiding the noise and not associating themselves with a Federation that had lost credibility . Now they're starting to have more confidence," say federation sources.

The first step forward has been taken by Iberdrola , which has doubled its contribution as a sponsor of the women's team. The RFEF is trying to weave synergies into the marketing strategy that unites the two senior teams, but the energy company wants to continue linking its image solely to the women's team and increase its commitment, which, although it began with the boys' team in 2009, just before the World Cup in South Africa, has focused on women's sports since 2016, even giving its name to the women's First Division, which, at the time, was organized by the Federation as it was not recognized as a professional team.

Other brands such as Adidas , the technical sponsor, Ebro , Halcón Viajes , La Roche-Posay , Cervezas Victoria , and El Pulpo have entered into global sponsorships for both national teams, including the lower categories. This meant revenue of almost €40 million for the Federation in 2024, a figure they intend to increase. Since Rafael Louzán became president, a period of relative instability has come to an end. That reputational damage is beginning to lift, helped also by sporting successes.

A place of celebration and a great event

Last week, with the national team already in the quarterfinals after defeating Portugal and Belgium, all the metro entrances at Madrid's Plaza de España station were renamed with the captains' names: Alexia, Irene Paredes , Olga Carmona , Aitana, and Mariona. This agreement was reached with the Community of Madrid to encourage fans to follow the championship as it enters its decisive phase.

It's this Madrid square that the Federation, as one of the challenges Louzán sets for itself, would like to turn into the emblematic venue for celebrating Spain's successes. While the women's World Championship was held on the Puente del Rey esplanade in Madrid Río, like the men's in 2010, the celebrations directed by Morata a year ago took place in Cibeles, in front of the Palacio de Comunicaciones.

This isn't the only challenge the new presidency has set itself. On the horizon, in addition to the 2030 World Cup, the fight for a major women's football event remains. The next World Cup will be held in Brazil in 2027, while for Euro 2029 , for which bids must be submitted by August 28, Germany, Italy, Poland, Portugal, Denmark, and Sweden are bidding. Spain will have to prepare to compete for subsequent competitions.