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🇬🇧 By Andrea Caropreso
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Last year they both won their respective leagues, although in practice Napoli and Barcelona did so with two completely different philosophies. The Neapolitan side represents a business model for the way it has managed its finances and exploited player trading in recent years, while the Catalan club has yet to emerge from the most difficult period in its history. In fact, Barcelona had to sell in advance the rights to the new Camp Nou and struggled to register new signings due to the restrictions imposed by La Liga.
Napoli’s Financial Statement
The financial year ending with the 2023/24 season was almost a record for Napoli and the De Laurentiis ownership. The symbol of this positive trend was the €63 million profit with which the club closed its accounts. A result driven by several factors, including merchandising revenues from Champions League matches, as well as income from sponsorships and ticketing thanks to Europe’s top competition.
As can be seen, the main factors were both television rights (over €140 million) and capital gains from player sales (just over €70 million). These figures consolidated equity above €210 million and increased liquidity compared to previous years.
However, when comparing Napoli with Europe’s football giants — albeit more indebted than Napoli — the revenue gap remains very significant. Taking Barcelona as an example, the Blaugrana, operating on a much larger scale, can aspire to higher revenues, even though they must work overtime to keep their accounts aligned with UEFA and Spanish regulations.
Barcelona’s Financial Statement
Looking specifically at Barcelona’s 2024 accounts, we can see that the club, as a global football powerhouse and brand, operates on a far larger scale. Estimated revenues for 2023/24 stood at around €763 million, while operating revenues were about €894 million. However, the construction of the new Camp Nou — which has already cost €1.5 billion and is still delayed — is heavily affecting the balance sheet.
The main strength of Barcelona’s finances lies in its commercial business, namely sponsorships (over €210 million, a record for the club) and merchandising (about €110 million via Barça Licensing & Merchandising).
Although operationally the club managed to close with a small €12 million profit (meaning the “core business” is balanced), the final net result was a €91 million loss. This was due to missed income from partners and, above all, the financial costs connected to the stadium project.
Same Result with Different Philosophies
This comparison highlights how two clubs with high ambitions can follow very different paths: one relying on the historic strength of its brand, Barcelona, and the other, Napoli, on a more cautious model and operational solidity. Barcelona finds itself in a delicate financial transition, while Napoli seems to have built a more stable base after being taken over by De Laurentiis during bankruptcy and rising again from the lower leagues.
On the other hand, in Italian football, the difference often comes from the visionary skills of sporting directors and presidents, who must turn necessity into virtue to remain competitive without the same revenues as Europe’s super clubs, which have always been more attractive to both players and sponsors.
By Andrea Caropreso
