Barcelona’s latest financial reports show the club have accrued a staggering transfer debt of £138million.
The Catalan giants’ financial issues have been laid bare over the last five years leading to high profile player outgoings and a focus on promoting future stars from the club’s famous La Masia Academy.
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The La Liga club released their financial results to The Members’ Assembly on Monday and it made for damning reading.
What did the financial results show?
Barcelona’s shareholders approved the new report and new budget, however the huge debt accumulated by transfer fees casts huge doubts over the club’s long-term future.
The five-time Europeans Cup winners have been instructed to pay £121m of the £138m debt by the end of the season in order to stay afloat.
That amount is a huge increase on the £39m Barcelona owed at the same point last season.
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The amount owing is largely down to the signings of three high profile stars in Raphinha, Robert Lewandowski and Jules Kounde.
All the signings were made in the summer window of 2022 for a collective £130m however Barca have paid back less than half of that amount, more than three years on.
The report states that Barcelona still owe Leeds United £36.5m for the transfer of Raphinha and £22m to Sevilla for French defender Kounde.
There is also still £8.5m owing to Bayern Munich for Lewandowski who signed for the club from Bayern for £42.5m.
Barcelona owe a further £15.5m to RB Leipzig following Dani Olmo’s move back to Catalonia in 2024 and £12m to Manchester City for Spain forward Ferran Torres.
But concerns run deep over the amount Barca owe for players that no longer play for the club.
Barcelona striker Robert Lewandowski
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The Catalans are yet to pay Bayern Munich in full for Robert LewandowskiCredit: Getty
BARCELONA, SPAIN - OCTOBER 23: Raphinha of FC Barcelona celebrates a goal during the UEFA Champions League 2024/25 League Phase MD3 match between FC Barcelona and FC Bayern Munchen at Estadi Olimpic Lluis Companys on October 23, 2024 in Barcelona, Spain. (Photo By Irina R. Hipolito/Europa Press via Getty Images)
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Barcelona still owe Leeds £36.5m for RaphinhaCredit: Photo By Irina R. Hipolito/Europa Press via Getty Images
Player Money owed Club
Raphinha £36.5m Leeds
Robert Lewandowski £8.5m Bayern Munich
Jules Kounde £22m Sevilla
Dani Olmo £15.5m RB Leipzig
Ferran Torres £12m Man City
Vitor Roque £15m Athletico Paranaense
Barcelona still owe millions to clubs around the world, for some players who are not at the club.
Despite selling Vitor Roque to Palmeiras for €25m (£22m) in 2024, Barcelona still owe Athletico Paranaense £15m towards the fee they paid to bring him to the Nou Camp.
Stadium setbacks
And on the subject of their Iconic stadium, it is believed the cost of the redevelopments to the Nou Camp has further weakened Barcelona’s financial position.
Barcelona had hoped to move back into the Nou Camp for the opening day of the season however multiple delays and not being granted the necessary permits have curbed their hopes of a grand return.
As a result, Barcelona have rotated between two stadiums this season – the Estadi Olímpic Lluís Companys that they have used since leaving the Nou Camp and the Estadi Johan Cruyff which is used by the women’s and men’s reserve teams.
That has seen matchday revenue drop significantly leading to hugely bloated ticket prices.
Barcelona took advantage of economic levers to help their financial crisis spearheaded by club president Joan Laporta.
Barcelona's return to the Camp Nou has been delayed several times
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Barcelona's return to the Camp Nou has been delayed several timesCredit: AFP
KOBE, JAPAN - JULY 27: Joan Laporta, President of FC Barcelona looks on during the preseason friendly between Vissel Kobe and FC Barcelona at Noevir Stadium Kobe on July 27, 2025 in Kobe, Hyogo, Japan. (Photo by Koji Watanabe/Getty Images)
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Joan Laporta is hopeful that Barcelona's financial issues will subside in the near futureCredit: Getty
However, Laporta believes the club are heading in the right direction despite the constraints.
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“We are much better off than we were four and a half years ago,” Laporta said.
“Some of the statements surprise me – everything can be improved. But today we are much better off than when we arrived.”