According to The Athletic, Barcelona's revenue for the 2025-26 season exceeded €1 billion for the first time, but the club still recorded a net loss of €17.8 million after tax, with debt rising to €1.84 billion.

Barcelona's revenue last season surpassed €1 billion, making them the second club in football history to reach this milestone, behind only Real Madrid. However, the renovation of Camp Nou remains incomplete, and the club failed to achieve profitability. Under Flick's management, Barcelona defeated Real Madrid 2-0 at home in May, winning La Liga for the second consecutive time, and also reclaimed the Supercopa de España, though they were eliminated in the Champions League quarterfinals.
Barcelona returned to Camp Nou in November, initially able to open only 45,401 seats. This increased to over 62,000 by March, still far short of the 105,000 capacity upon completion. The club aims to complete the Espai Barça project by 2028 and expects additional annual revenue of €250 million once finished. Last season, Barcelona's ticket revenue grew by only €3 million, but VIP hospitality revenue increased by over €30 million compared to the period at Estadi Olímpic Lluís Companys, and membership revenue rose from €31.6 million to €40.1 million.
Commercial revenue is Barcelona's largest revenue source, increasing by €200 million between 2019 and 2025. Contracts with Nike and Spotify drove commercial revenue to €564.1 million, and Barcelona Licensing & Merchandising (BLM) generated €189.5 million last season. Barcelona also sold 30-year usage rights for 9,600 VIP seats at the renovated Camp Nou, with €71.6 million recognized in the 2024-25 season and €28.4 million to be recognized in the following season.
Barcelona's TV broadcasting revenue for 2025-26 was €244.6 million, down from the club record of €298.1 million in 2019-20. In 2022, Barcelona sold 25% of its domestic TV broadcasting revenue for the next 25 years to private equity firm Sixth Street for €667.5 million; based on current figures, the club must pay approximately €40 million annually to Sixth Street.
Barcelona recorded a net loss of €17.8 million after tax last season, with a projected loss of €16.9 million in 2024-25, bringing accumulated losses to €348 million over the past seven years. The club also wrote down €23.3 million from its shareholding in Barça Studios; without this write-down and €9.5 million in personal seat license revenue, Barcelona would have broken even last season.
Barcelona's salary expenditure last season reached €573.7 million, up €63.7 million year-on-year, or 12%, while the salary limit stands at €582.7 million. Salaries for the first-team men's squad and young academy players totaled €421.6 million. Other club operating costs also exceed €350 million annually, with salaries accounting for 56% of revenue, up 4.5 percentage points from the previous year.
During Laporta's second tenure, Barcelona's net transfer spending has generally declined. In summer 2022, the club signed Raphinha, Koundé, and Lewandowski using funds from TV rights sales. For 2025-26, Barcelona signed Gündoğan, Olmo, Adeyemi, Gabriel Jesus, and Gavi, while selling Ferran Torres. Gündoğan's first installment of €22.3 million was initially due on July 31 of this year, but Barcelona deferred it by one year and settled the payment through a bank loan.
As of June 30, 2026, Barcelona's net transfer debt was €82.3 million, with additional signs of deferred payments for some players. Barcelona told The Athletic that this practice is "routine cash flow management" and attributed the pressure to timing mismatches between revenue and expenditure caused by delays in the Camp Nou project.
Barcelona's debt as of June 30, 2026 stood at €1.84 billion, mostly related to the Espai Barça project. Club management acknowledged that an additional €300 million in loans will be needed to complete the project; since June 30, Barcelona has issued €105 million in 10-year senior notes with a fixed interest rate of 5.14%. Cash interest payments exceeded €90 million last season, and significant debt will come due in the future.
Barcelona's salary expenditure for 2026-27 is projected to reach €648.9 million, with revenue forecast to exceed €1.1 billion. The club must complete Espai Barça as soon as possible and successfully refinance its existing debt. For Laporta's new term, reducing financial pressure while maintaining competitive performance will be a critical challenge.

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