FC Barcelona has posted an €18 million loss for the 2025-26 season despite surpassing €1 billion in revenue for the first time. The figures, released by the club on Monday ahead of the Ordinary General Assembly on September 19, show gross debt of €910 million, as reported by El País.
How did Barcelona reach €1.06 billion in revenue?
The club's total turnover rose to €1.06 billion, a 7% increase compared to the previous financial year. This historic milestone is largely attributed to the return to the Spotify Camp Nou after two and a half years of renovation works. Stadium operations saw the biggest growth, advancing 29% to €225 million, even though Hansi Flick's team played part of the first half of the season at the Estadi Johan Cruyff and the Olímpic Lluís Companys.
The commercial area also broke records. Sponsorship income reached €265 million, while merchandising revenue, managed by Barça Licensing & Merchandising, hit €208 million, €40 million more than the previous year. The commercial area grew 11% to €527 million. The only item to decrease was television revenue, down by €4 million because the first team did not repeat its qualification for the Champions League semi-finals. The team's full schedule for the current season can be checked on the fixtures page.
Why is the club still recording losses?
Operating expenses increased by 6% to €1.022 billion. The sporting wage bill, which includes salaries and amortizations for the men's first team, stood at €571 million, a 7% rise from the previous year due to contract renewals. This was compounded by increases in non-sporting salaries (up 9%) and management expenses (up 12%), partly due to the growth of the merchandising business.
With these figures, the club's ordinary result was a mere €200,000, while EBITDA reached €140 million. However, the final net result again closed in the red, penalized by a new €23 million accounting impairment in the valuation of Barça Produccions. Net equity remains negative, at €168 million. Net debt, according to LaLiga's criteria, stood at €607 million, €138 million more than the previous year.
What is the real debt situation at Barcelona?
Gross debt amounts to €910 million. This figure does not include the €1.5 billion issuance for the stadium works, meaning the club's total debt is around €2.41 billion. Sources at the Camp Nou clarified to El País that "it's all debt," but added that "the Espai Barça has completely differentiated project financing, structured to be repaid with the income generated by the stadium itself."
According to Barcelona, the exclusion of part of this debt from certain regulatory calculations responds to specific LaLiga and UEFA rules for infrastructure financing. The club expects the full operation of the Espai Barça to provide around €250 million in additional annual income. Details of this season's squad, whose salaries are a key factor in these numbers, are available in the squad section.
What are the club's prospects for next season?
Barcelona forecasts raising its income to €1.195 billion in the 2026-27 campaign. A season it hopes to close with a positive net result of one million euros. The club will rely on the first full season in the renovated stadium and the consolidation of record sponsorship and merchandising figures.
The sporting wage bill will grow again, this time by 11% (€65 million more), reaching levels that, the entity acknowledges, will allow it to compete at the highest European level. The team, which currently holds a position in the LaLiga standings, trusts that these additional revenues will definitively relieve the financial pressure it has carried since the start of the works. The next members' assembly is scheduled for September 19.
