Barcelona released its 2024/25 Annual Report in late October alongside the Ordinary General Assembly, where members approved last season’s accounts and the 2025/26 budget. We have looked through the 338-page report to pull the key figures on revenue, wages, transfer payables, taxes, financing, one-offs, and the stadium project. The point of this is to put the most accurate numbers in one place, because there are too many shaky claims and fake figures floating around.
2024/25 financial snapshot
| Metric | Result |
| Revenue | €994m |
| Operating expenditure (ex-financial) | €965m |
| Net financial result | – €27m |
| Ordinary result (pre one-offs) | +€2m |
| Extraordinary result (one-offs) | – €10m |
| Profit before tax | – €8m; after tax – €17m |
| EBITDA | €190.9m |
| Net equity | – €153m (negative) |
The 2024/25 season was better than 2023/24, but still not profitable. Revenue rose to €994m from €894m and EBITDA improved to approximately €191m from €138m, yet operating costs also climbed to €965m (about €99m higher) and financing costs worsened (net financial result – €27m vs – €15m), squeezing the ordinary surplus to just €2m from €12m. Extraordinary items were only – €10m this year instead of last season’s heavy – €141m. Even so, the club still finished with a – €17m loss after tax (better than – €91m a year ago), and net equity fell further to -€153m from -€94m.
Where the money came from
- Commercial: Sponsorship €259m (club record). Merchandising shows €170m in the Economic Area section; the Consolidated Management Report shows €158.161m for BLM.
- Matchday, museum & VIP: +€47m year over year, although it still generates around €100m less turnover than a normal Spotify Camp Nou season due to playing at Montjuïc.
- Media/TV: €250.499m total; +€7.424m YoY
- Transfers/loans: +€44m profit (e.g., Faye, Nico, Todibo, Álex Valle, plus add-ons).
- Personal Seating Licenses (PSLs): €71.6m. New product this season; shown in the Consolidated Management Report as a distinct revenue source.
- Members & subscribers: €31.599m.
- Provision of services: €6.663m.
Wages & Costs (2024/25)
- Sporting wage bill (wages + image rights + agents + player amortisation): €534m
- Non-sporting wages: €76m
- Management costs: €282m
- “Others” (operating): €73m
UEFA guardrail
The UEFA guardrail is the sporting cost ratio: (football wages + player amortisation) ÷ ordinary income. In 2024/25 it was 54% (or 59% if you look only at Stadium/Media/Commercial). Both are under UEFA’s 70% line.
What’s inside those lines
- Personnel expenses (total): €509.955m (sports personnel €434.001m, structure staff €75.954m). First-team players & coaches: €348.659m.
- Sports-squad cost components used in the club’s indicator: Wages €434.001m, image rights €4.811m, agents €14.157m, player amortisation €81.287m (total €534.256m).
- Management cost makeup (selected): External services €197.111m, travelling €14.836m, other current management costs €49.343m, non-player fixed-asset depreciation €93.778m, tributes €4.343m.
Budget watch (2025/26)
Planned expense lines for the 2025/26 season: sporting wage bill €565m, non-sporting wages €77m, management costs €335m, Others €42m, this will reflect the men’s first team return to Spotify Camp Nou (higher operating cost) and a larger merchandising operation.
What Barça still owes (and to whom)
Current liabilities (30 June 2025):
- Debts with sports entities (transfers): €159.175m (current + non-current)
- Sports staff payables: €156.19m (current €136.328m, non-current €19.862m) and €99.399m receivable from players (deferred items).
- Other debts to the Public Administrations (tax/social): €100.758m.
- Average supplier payment period: 78 days (down from 86).
Largest transfer creditors (total outstanding, current + non-current):
- Leeds United (Raphinha): €41.958mm
- Manchester City (Ferran Torres): €13.295m
- Sevilla (Koundé): €24.524m, with a later-events note that a €12.3m instalment was deferred on 15 July 2025 to a new maturity of 1 July 2026
- Bayern Munich (Lewandowski): €10.688m
- RB Leipzig (Dani Olmo): €33.749m (€18.939m current + €14.810m non-current)
- Athletico Paranaense (Vítor Roque): €17.237m
