Not long ago, Barcelona were struggling to register their own signings. Last summer, Marcus Rashford had to wait before he could officially become a Barcelona player, held up by La Liga's strict salary limits at a club that, despite being arguably the biggest in the world, had spent years wrestling with a financial crisis of their own making.
The contrast with what’s happening now couldn’t be more different.
Before the summer transfer window has even officially opened, Barcelona have agreed a deal in principle to sign Anthony Gordon from Newcastle United for £70 million, plus bonuses. The England winger arrived in Barcelona today to undergo a medical ahead of jetting off to represent his country at the World Cup, with his wages set to double to around £300,000 per week.
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It’s also emerged that Barca are preparing a straight cash bid in the region of €100 million for Atletico Madrid's Julian Alvarez. The former Manchester City striker is being lined up as a replacement for the departing Robert Lewandowski.
That’s over £150 million committed before a ball has been kicked in the new season. So how does something like this happen so soon? How has a club that could barely register players 12 months ago suddenly found itself operating with this level of financial freedom?
La Liga's 1:1 Rule and Why it Works in Barcelona's Favour
Barcelona players
The answer lies in La Liga's 1:1 financial framework, which dictates that every euro a club generates through player sales or wage reductions can be reinvested into new signings. For several years, Barcelona were firmly on the wrong side of this rule. Now, they’ve finally tipped back into positive territory.
A major factor is the departure of Lewandowski, which is reported to have freed up around €40 million from the wage structure alone. Add to that the revenue streams that come with the club’s return to the Spotify Camp Nou, and the board appear confident that their financial difficulties are firmly in the past, and they’re ready to spend as freely as they wish.
Four Targets, One Ambitious Summer for Barcelona
Barcelona president Joan Laporta with sporting director Deco during a board meeting
Barcelona president Joan Laporta with sporting director Deco during a board meeting
Gordon and Alvarez are just the beginning. Barcelona are reportedly planning four major moves this summer, with ambitions that recall the £316 million spent in the 2017/18 window, four years before their financial issues led to the departure of Lionel Messi, when Philippe Coutinho and Ousmane Dembele were signed.
Rashford, despite Gordon's arrival, is expected to remain at the club, with discussions over a permanent deal set to continue in the summer. Portuguese defender Joao Cancelo, who was on loan at the Camp Nou last season, is also expected to sign permanently. And a deal for his fellow countryman Bernardo Silva, who leaves Man City as a free agent this summer, is believed to be 90% done, meaning three former City players could line up for Barcelona next season.
Finally, a new centre-back is understood to be high on the agenda, though the identity of that target may depend on whether Jules Kounde departs over the summer. If he does, attention could switch to a new full-back instead, with Denzel Dumfries reportedly among the options being considered, who has reportedly been offered to clubs for just £21 million.