Barça takes next step in financial recovery

Barcelona’s long road to financial recovery continues to show promising signs, as highlighted by a recent upgrade in their credit rating outlook by the respected ratings agency Morningstar DBRS.

The club's overall rating remains at BBB, but the outlook has been officially changed from “stable” to “positive,” signaling increased investor confidence in the club’s future stability and sustainability.

According to the detailed report released by DBRS, this adjustment reflects the club’s improved financial performance over the past two seasons a period in which Barcelona began to stabilize its operating costs, restructure outstanding debts, and focus on sustainable long-term revenue streams. The agency also took into account broader macroeconomic and football industry factors, including UEFA and La Liga’s reinforced financial sustainability frameworks, which aim to encourage greater financial responsibility among top-tier European clubs.

A key driver behind the improved outlook is the much-anticipated return to Camp Nou. Barcelona had to leave their iconic stadium temporarily to allow for a massive renovation project one that required the club to take on a €1.5 billion loan in 2023. At the time, the scale of the debt raised eyebrows across the financial and football worlds. However, the DBRS report indicates that the construction project is now significantly advanced, and as such, the risks initially associated with the loan have been “substantially reduced.”

DBRS’s long-term projections are ambitious: they forecast that Barcelona could generate revenues of up to €1.1 billion by 2027. This optimistic prediction is based on several assumptions, including the club securing second-place finishes in La Liga every season and consistently reaching the quarter-finals of the UEFA Champions League. While such expectations may appear bold, they reflect the global appeal and commercial strength of the Barça brand, which remains one of the most recognizable in world football despite recent on-pitch and boardroom turmoil.

The club’s BBB rating places it in the “investment grade” category, but still eight levels below the highest possible credit rating. To reach that top-tier status held by rivals such as Bayern Munich and Real Madrid Barcelona would need to continue demonstrating improved profitability, stronger liquidity, and further reductions in debt. Nonetheless, this latest shift in outlook is a clear indication that the financial community sees signs of a meaningful turnaround.

In addition to internal restructuring, Barcelona is also taking proactive steps on the commercial front. One such move is the announcement of their 2025 pre-season tour, which will take the team to Japan and South Korea. The club is expected to earn millions in revenue through match fees, merchandising, broadcast rights, and sponsorships. Scheduled matches include clashes with Vissel Kobe, FC Seoul, and Daegu FC fixtures that will draw significant crowds and generate buzz across Asia, where Barça continues to enjoy a massive fanbase.

This tour is more than a money-making venture; it’s part of a broader global brand strategy to reassert Barcelona’s commercial dominance. After years of instability marked by boardroom resignations, the departure of Lionel Messi, and urgent player sales to balance the books the Catalan giants are now rebuilding their off-field reputation with the same ambition they have long applied to their on-field success.

Club president Joan Laporta has repeatedly insisted that the club’s financial model is now on a more sustainable path. Measures such as stricter wage controls, revised sponsorship deals, and the controversial “economic levers” used in the past season have all contributed to this effort. The club has also sought to expand its digital and content operations through Barça Studios, aiming to create new revenue streams not tied solely to matchday performance.

Laporta’s administration believes that the return to a fully modernized Camp Nou set to become one of the most state-of-the-art stadiums in the world will act as a revenue engine for decades to come. From luxury hospitality and naming rights to multi-use commercial spaces and year-round tourism opportunities, the upgraded stadium is central to Barcelona’s business vision.

Still, challenges remain. The club’s debt levels, although being managed, remain high. Player amortization costs, ongoing wage bills, and the pressure to remain competitive in La Liga and Europe add layers of complexity to the recovery process. But the credit rating improvement, coupled with rising revenue forecasts and successful global initiatives, signals that Barcelona may finally be steering away from the brink and toward a more stable, self-sufficient future.