By Andrea Caropreso
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Fiorentina and Real Betis represent two clubs of very similar scale. Looking at their recent European performances, the Spanish side reached the Conference League final last season, while the Viola came close to winning the trophy twice, in 2022 and 2023. From a financial perspective, both clubs have maintained healthy management in recent years — pursuing sporting success while keeping a close eye on their balance sheets.
Fiorentina’s Financial Report
Fiorentina’s 2024 financial statement — the latest with official data — shows a markedly improved economic picture compared to previous years, with a contained loss of €5.9 million, a significant step forward from the €19.5 million deficit two years earlier. This turnaround was driven by rising revenues, from €147.6 million to €157.3 million, and an overall increase in turnover, from €159.6 million to €199.9 million.
The growth was fuelled by TV rights, player sales, and sponsorships. Broadcasting revenues reached €61.5 million, placing Fiorentina among Italy’s upper-mid-tier clubs, while capital gains from transfers rose from €7.7 million in 2022/23 to €26 million in 2023/24, thanks to a carefully managed transfer strategy.
| Item | 2022/23 (€ mln) | 2023/24 (€ mln) |
|---|---|---|
| Total revenues | 159.6 | 199.9 |
| Net losses | –19.5 | –5.9 |
| TV rights revenues | n/a | 61.5 |
| Capital gains | 7.7 | 26.0 |
| Sponsorship revenues | ~21.0 | 25.0 |
| Total commercial turnover | ~41.5 | 50.2 |
A key contribution came from Mediacom, the telecommunications giant founded by president Rocco Commisso, which remains the club’s main sponsor. The deal brings around €25 million per year, placing Fiorentina among Italy’s top five clubs for shirt sponsorship value — ahead of Lazio and Atalanta.
The goal, as stated by Commisso and the management, is to reach operational breakeven by 2025, leveraging the growing strength of the Fiorentina brand, which has benefited from the club’s increasing visibility under American ownership. Based on this solid foundation, the club has also been able to develop Viola Park, its new training center, and begin the renovation of the aging Stadio Artemio Franchi — both crucial investments for long-term growth.
Betis’s Financial Report
Real Betis today stands out as a club that, while lacking the resources of LaLiga’s giants, has taken a path that could enable it to upgrade its sporting and economic status.
Estimated results for the 2023/24 fiscal year show revenues of around €175–180 million. A key component of Betis’s strategy is the restructuring of its debt. The club reached a €125 million agreement with Goldman Sachs to refinance existing liabilities and unlock funds for strategic investments — especially the redevelopment of its home stadium.
Betis Financial Overview 2024
| Item | Amount / Detail | Notes |
|---|---|---|
| Revenues (FY 2024) | €175–180 million | Growth vs 2023 |
| Debt restructuring deal | €125 million | 10-year loan with Goldman Sachs to refinance debt and support stadium redevelopment |
| Projected stadium income | from ~€30m to ~€50m per year | Target after renovation of the “Benito Villamarín” |
Thanks to this redevelopment and improved commercial use of the Benito Villamarín Stadium, Betis aims to increase annual stadium income from around €30 million to €50 million. Operationally, the club emphasizes cost control — the backbone of its 2022–2026 strategic plan — confirming its reputation as one of Spain’s most responsible clubs.
However, the challenge is far from over. In an increasingly competitive European football economy, Betis must turn its infrastructure and commercial improvements into sustainable long-term revenues, ensuring that debt leverage does not undermine its sporting progress. Participation in European competitions will be crucial in this regard.
A Comparison
Comparing the two clubs, they can be seen as two sides of the same coin. While Betis focuses on managing and restructuring its debt, Fiorentina continues to reduce its losses, moving steadily toward breakeven.
Revenue levels are also quite similar: Betis is close to €190 million, while Fiorentina has already reached that figure and is expected to surpass €200 million in the 2025 forecasts, to be released in the coming weeks.
The key difference lies in context — LaLiga and Serie A have different levels of global appeal and distinct TV-rights structures. Consequently, despite operating on a similar scale, the annual broadcasting income of each club differs significantly.
In both cases, however, maintaining a presence in European competitions is essential. The UEFA stage — both in terms of sponsor appeal and prize money — remains too valuable an opportunity to pass up.
By Andrea Caropreso
