Recently, Marca published an article discussing the financial performance of La Liga clubs during the 2024-2025 season. La Liga achieved a record-breaking commercial revenue of over €4.6 billion last season, yet seven clubs still reported losses, with Sevilla suffering the most significant deficit.
In the 2024-2025 season, La Liga clubs generated record-high revenue without relying on asset sales or accounting adjustments. The combined operating revenue of La Liga’s 20 first-team clubs exceeded €4.6 billion—1% higher than the previous record set in the 2022-2023 season. It should be noted that the 2022-2023 figures were somewhat inflated due to Barcelona’s capital operations, which artificially boosted total revenue to raise its salary cap. The current growth further confirms the robust recovery of Spanish football following the pandemic.
Despite not yet achieving full profitability across the board, the aggregate losses of La Liga clubs have plummeted by 96%, amounting to just €7.7 million. This data comes from “Intelligence 2P,” the strategic and market intelligence division of 2Playbook. The current losses are primarily driven by Sevilla, which alone reported a staggering loss of €541 million, making it the only club with a deficit exceeding €200 million and one of the seven teams that failed to turn a profit. Compared to other major European leagues, La Liga’s overall financial health remains relatively strong—unlike in those leagues, where the majority of clubs typically report widening annual deficits.
Revenue Growth: 75% of Clubs Report Increases
A key factor behind the improved financial condition of Spanish professional football is the overall revenue growth. Driven by commercial development and stadium-related income (season tickets and matchday sales), 75% of La Liga clubs recorded revenue growth in the 2024-2025 season.
Leganes is the only club that has not yet released its final financial figures for the season. However, having been promoted from the Segunda División last season, its revenue growth is already assured, with broadcasting rights alone bringing in €40 million. Based on historical data and relevant parameters, Leganes’ total revenue is estimated at approximately €55 million. Overall, the total revenue of La Liga’s 20 clubs increased by 10% compared to the 2023-2024 season.
Of the total revenue of approximately €4.64 billion, Real Madrid and Barcelona accounted for 47%, with both clubs surpassing €1 billion in single-season revenue. Including Atlético Madrid raises this share to 58%. In other words, for every €10 earned by La Liga, nearly €6 came from Real Madrid, Barcelona, and Atlético Madrid.
These three clubs continue to show strong revenue growth, primarily benefiting from their European performances—especially the new Champions League format, which delivers higher distributions to elite clubs—and the immense potential of future stadium commercialization. Atlético Madrid’s revenue now approaches €500 million, up 5.5% year-on-year, while Real Madrid and Barcelona saw increases of 11% and 21%, respectively. Real Madrid has firmly established itself in the “billion-euro club,” while Barcelona crossed this threshold for the first time last season. Barcelona’s commercial revenue alone surged by 47% over the past year, with its renewed deal with Nike being a key driver.
Mid-to-Upper Tier Clubs Step Up: European Competitions and Transfers Key
The analysis also highlights that mid-to-upper tier La Liga clubs experienced particularly notable growth, driven primarily by European competition revenues and player transfers. Real Betis and Real Sociedad both surpassed the €200 million annual revenue mark.
Betis’ strong European campaign (including reaching the Europa Conference League final) and key player sales significantly boosted its finances, with revenue rising 14% year-on-year to €215.2 million—of which transfer income accounted for 26% (€56.9 million). Real Sociedad earned €63.2 million from transfers, representing 31% of its total revenue. Villarreal, despite not competing in Europe, also relied heavily on the transfer market, generating nearly €195 million in revenue.
Sevilla’s Sharp Decline: Revenue Drops 32%
The impact of missing out on UEFA competitions is especially evident in Sevilla’s case. Without European football, the club’s broadcast revenue nearly halved—from €129.1 million to €65.7 million—leading to a 32% overall revenue decline and a drop from 5th to 9th place in La Liga’s revenue rankings. In the 2023-2024 season, when Sevilla competed in the Champions League, its TV revenue alone reached €123.6 million—already higher than its entire broadcast income for the 2024-2025 season.
Sevilla president María del Nido previously stated in an interview that the club aims to return to profitability by the 2026-2027 season. Additionally, Athletic Bilbao and Valencia also ranked among the top ten in revenue, with increases of 27% and 17%, respectively. Athletic Bilbao’s growth was fueled by its run to the European semifinals and commercial revenue exceeding €30 million for the first time.
14 Clubs Earn Over €80 Million
In the 2024-2025 season, the average revenue per La Liga club was approximately €230 million. Fourteen clubs (70%) reported revenue exceeding €80 million. Newly promoted Espanyol generated nearly €95 million in revenue, a 55% year-on-year increase, thanks to record-breaking membership and season ticket sales, as well as the sale of Joan García to Barcelona.
Alavés also delivered a standout performance, with revenue reaching €79 million—an increase of 19%—primarily driven by transfer income. The club secured a record €15 million from player sales. Club president Alfonso revealed that Alavés has already secured at least €24 million in transfer revenue for the 2025-2026 season: “While pursuing immediate competitiveness, we must also create sustainable value for the future.”
Next Goal: Achieve Full Profitability
Looking ahead to the new season, the primary objective for clubs still reporting losses is to achieve financial balance. Sevilla has set its target for the 2026-2027 season, while Atlético Madrid, Celta Vigo, and Mallorca are already close to profitability. Atlético and Celta, benefiting from European qualification and consistent league performance, are more likely to return to the black soon.
Mallorca is focusing on expanding revenue streams beyond matchdays and leveraging the island’s tourism appeal to ease fiscal pressure in its medium-term development plan. Club Commercial CEO Alfonso Díaz told 2Playbook in November last year: “We’re already seeing positive effects from our new business investments, such as sports bars, sports clinics, and event management units.”