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Mixed financial record of top European clubs

The busy Swiss Ramble has been producing financial fact sheets on international clubs.   Paris Saint-Germain's revenue up 18% to €659m in 2019, 5th highest in world, very largely due to huge sponsorships, including QTA publicity campaign (€175-200m). Further growth in 2020 from new Nike and Accor deals. By far the highest in France on practically every metric.

Barcelona's 20019 revenue surged 23% to €852m, the highest in the world, due to taking merchandising in-house and new Champions League deal. First club with wage bill over €500m. Profits eight years in a row, but increasingly reliant on player sales. Debt and transfer spend shot up.

Real Madrid's revenue was flat in 2019, but lower wages and €99m profit from player sales resulted in €53m pre-tax profit, the highest in Spain (though posted €44m operating loss). Financial debt down to €83m. Revenue will be boosted in 2019/20 after taking merchandising in-house.

Juve's 2019 revenue was up 20% to €494m, by far highest in Italy, due to commercial growth (Ronaldo factor). This also drove 27% wages rise to €328m. Operating loss up to €142m, offset by €127m from player sales, but still €27m pre-tax loss. Debt (mainly stadium) up to €473m.

AC Milan's €143m pre-tax loss highest in Italy and worst in club’s history. Lost over half a billion in last 6 years, as revenue has stagnated, partly due to little involvement in Europe. Wages up to €185m. Little money from player sales. Debt down after Elliott’s repayment of bonds.

Inter's revenue grew from €203m to €370m in three years since Suning takeover, including €96m from Chinese sponsors. 2019 boosted by return to Champions League €51m, but still lost €40m before tax. Debt of €461m would be even higher without owners converting €145m to equity.

AS Roma have posted losses 10 years in a row. 2019 loss only €15m pre-tax, but includes €129m from player sales. Last 2 years helped by Champions League money. Wages up to €184m, as operating loss widened to €116m. Debt of €255m has since been restructured via new bonds.

Bayern Munich have been profitable 27 years in a row, including €75m pre-tax in 2019. Revenue up 5% to €660m in 2019, due to better Bundesliga and Champions League TV deals. Wages have steadily risen to €336m. No financial debt, high cash and relatively low transfer spend.
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