Barcelona budget €1.195 billion in revenue for 26-27 as net debt rises to €607m

FC Barcelona has shared with its members the financial numbers that will be put to a vote at the Ordinary General Assembly scheduled to be held online on the 19th. The accounts show a 2025-26 season in which operating revenue topped €1 billion for the first time, but they also reveal a significant rise in net debt and an after-tax loss the club will need to absorb in the coming years.

• The club closed 2025-26 with €1.060 billion in operating revenue, an all-time high.
• Net debt under LaLiga criteria rose to €607 million, up €138 million from 2025.
• For 26-27, the budget projects €1.195 billion in revenue and €1.133 billion in expenses.
• The board will ask to extend the Spotify Camp Nou credit line by €300 million.
• It will also seek approval for a €210 million bond issue tied to Espai Barça.

Why Barcelona surpassed €1 billion in revenue for the first time

The 2025-26 financial year ended with €1.060 billion in operating revenue, an increase of €66 million compared with the previous season. It is the first time the club has broken the €1 billion mark in this area. Barcelona attributes the growth to three main drivers: the use of the Spotify Camp Nou, the team's strong performance during the campaign and the momentum of its commercial operations.

Sponsorship income reached a new record high, while merchandising through Barça Licensing & Merchandising also posted its best-ever year. The combination of stadium operations, sponsors and official product sales allowed the club to lift its total figure above the 2024-25 close.

How much FC Barcelona's net debt grew and why

Net debt under LaLiga criteria stood at €607 million on 30 June 2026. That is €138 million more than the €469 million recorded a year earlier, a 29 percent increase that interrupts the downward trend the club had shown since the highs of 2021-22.

Barcelona points to the drop in cash caused by interest payments linked to Espai Barça as the main reason for the rise. Gross debt reached €910 million, up €43 million from June 2025. Of that amount, €597 million corresponds to credit institutions and issued bonds, mainly Senior Notes, while €167 million is tied to debts with other clubs for the acquisition of player registration rights.

Result, net equity and transfers in the 2025-26 season

The year closed with an after-tax loss of €18 million. Ordinary EBITDA was positive at €140 million and the net financial result came in at minus €37 million. Net equity at the end of June 2026 was minus €168 million, a figure that shows the balance sheet pressure the club faces going forward.

In the sales and loan section, Barcelona generated an aggregate profit of €43 million from transfers and variables collected on previous deals. The departures of players such as Dro, Pau Víctor, Ansu Fati, Trincao and Jan Virgili were among the operations that contributed to that figure.

The 26-27 budget: more income, more spending and a full season at Camp Nou

For the current campaign, Barcelona has set a budget of €1.195 billion in revenue and €1.133 billion in expenses. Playing at home for the entire season is one of the keys to the expected increase: the club estimates that the Spotify Camp Nou will generate an additional €60 million because Hansi Flick's side will play all their matches there.

Total sporting costs, combining wages and amortisation across all sections, are projected at €636 million, or 53 percent of revenue. That ratio is almost unchanged from the 54 percent posted in 2025-26, when the figure was €571 million. The growth in turnover will help cover higher salaries from renewals of key players and reinforcement of some sections.

What the Assembly will vote on regarding the Camp Nou credit line

The board will put to a vote of the delegates the extension of the credit line intended to finish the stadium works. The amount requested will be up to €300 million and, if approved, it would mainly go toward completing the Spotify Camp Nou project. It is an additional issue on top of the €1.500 billion initially approved.

According to the documents sent to members, Goldman Sachs will be responsible for structuring the operation, which would be placed with long-term institutional investors. The club will also seek approval to execute a new bond issue worth €210 million. The purpose is to offset the gap between the start of Espai Barça financing costs and the full operation of the stadium once it is completed.

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