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

Barcelona's revenue last season reached over €1 billion, making it only the second club in football history to achieve this milestone, after Real Madrid. However, the renovation of the Camp Nou stadium remains incomplete, and the club has failed to achieve profitability. Flick's Barcelona defeated Real Madrid 2-0 at home in May, winning La Liga for the second consecutive year and the Spanish Super Cup, but was eliminated in the Champions League quarter-finals.

Barcelona returned to Camp Nou in November, initially with only 45,401 available seats. This increased to over 62,000 in March, still far short of the 105,000 capacity once renovation is complete. The club expects the entire Espai Barcelona project to be finished by 2028 and projects it will generate an additional €250 million in annual revenue upon completion. Last season, Barcelona's ticket revenue rose by only €3 million, but VIP hospitality revenue increased by over €30 million compared to their time at Estadi Olímpic Lluís Companys, and membership revenue grew from €31.6 million to €40.1 million.

Commercial revenue is Barcelona's largest income source, having increased by €200 million between 2019 and 2025. Contracts with Nike and Spotify drove commercial revenue to €564.1 million, while Barcelona's licensing and merchandising operations generated €189.5 million last season. Barcelona also sold 30-year usage rights for 9,600 VIP seats in the renovated Camp Nou for €71.6 million in the 2024-25 season, with another €28.4 million to be recognized in future years.

Barcelona's TV broadcasting revenue for the 2025-26 season was €244.6 million, down from the club's record of €298.1 million in the 2019-20 season. In 2022, Barcelona sold 25% of its future domestic TV broadcasting rights for 25 years to private equity firm Sixth Street for €667.5 million; based on current data, the club must pay Sixth Street approximately €40 million annually.

Barcelona posted a net loss of €17.8 million after tax last season and a projected loss of €16.9 million in the 2024-25 season, with cumulative losses of €348 million over the past seven years. The club also wrote off €23.3 million in the value of Barca Studios shares; excluding this write-off 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, an increase of €63.7 million year-on-year or 12%, against a salary cap of €582.7 million. The men's first team and youth academy players accounted for €421.6 million. Other operating costs exceeded €350 million annually, with salaries comprising 56% of revenue, up 4.5 percentage points from the previous year.

During Laporta's tenure, Barcelona's net transfer spending has generally decreased. In summer 2022, the club used funds from the TV rights sale to sign Raphinha, Koundé, and Lewandowski. For the 2025-26 season, Barcelona signed Gündogan, Rodri, Adeyemi, Gabriel Jesus, and Jesse Bissau while selling Ferran Torres. Gündogan's first installment of €22.3 million was originally due on July 31st, but Barcelona deferred payment for a year and completed it through a bank loan.

As of the end of June 2026, Barcelona's net transfer debt was €82.3 million, with indications of delayed payments for some players. Barcelona told The Athletic that this practice is "routine cash flow management," attributing the pressure to timing mismatches between revenue and expenses caused by Camp Nou project delays.

Barcelona's debt as of the end of June 2026 stood at €1.84 billion, mostly related to the Espai Barcelona project. Club management acknowledged that an additional €300 million in borrowing is needed to complete the project; since the end of June, Barcelona has issued another €105 million in 10-year senior notes at a fixed interest rate of 5.14%. Interest payments exceeded €90 million last season, and several major debts are due in coming years.

Barcelona's salary expenditure is projected to reach €648.9 million in the 2026-27 season, with revenue expected to exceed €1.1 billion. The club must complete Espai Barcelona as soon as possible and successfully refinance existing debt. For Laporta's new term, reducing financial pressure while maintaining competitive performance will be critical priorities.

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