Barcelona have generated an estimated €116 million in positive transfer value since 2022, according to a study by the CIES Football Observatory.
Notably, the figures reveal a contrast between the players who remain at the club and those who have already departed.
Barcelona’s current signings are estimated to be worth around €180 million more than the fees paid to acquire them.
However, players who have since left have generated a negative balance of €64 million when their original transfer costs are compared with the amounts recouped through departures.
The resulting €116 million positive balance, thus, places Barcelona sixth among Spanish clubs in the study’s sample.
Crucially, the figures measure estimated transfer value rather than actual revenue or sporting success.
Barcelona’s current squad’s estimated transfer value
The strongest part of Barcelona’s transfer balance comes from players who remain under contract.
According to the CIES study, their estimated market value exceeds the fees paid to sign them by approximately €180 million.
Barcelona are performing well financially. (Photo by Alex Caparros/Getty Images)
The calculation covers players recruited from other clubs since 2022, including signings such as Raphinha, Jules Kounde, Robert Lewandowski and Ferran Torres.
It also includes players who arrived on free transfers, such as Andreas Christensen, Franck Kessie and Ilkay Gundogan.
However, CIES has not provided an individual breakdown of Barcelona’s figures.
It is therefore impossible to establish precisely how much each player contributes to the estimated increase or to confirm the exact composition of the sample.
The €180 million figure also does not represent money Barcelona have received or an offer they could immediately accept.
Rather, it only reflects the difference between estimated current transfer values and the original acquisition costs.
Barcelona’s departures leave €64m negative balance
The picture is less favourable for players who have already left Barcelona, as their transfer fees exceeded the sums recouped upon their departures by an estimated €64 million.
This negative balance offsets part of the value accumulated by the players who remain at the club, leaving Barcelona with a net positive figure of €116 million.
Deco has done a fantastic job in player transfers. (Photo by David Ramos/Getty Images)
However, the calculation should not automatically be interpreted as an accounting loss, as it compares acquisition costs with transfer proceeds and does not necessarily reflect the full financial impact of each deal.
The study also excludes academy graduates, limiting what it can reveal about Barcelona’s overall transfer strategy.
It measures the value generated by external signings rather than the contribution of the club’s youth system or the total value of its squad.
How Barcelona compare with Real Madrid, Villarreal and Betis
Barcelona rank sixth among Spanish clubs in the CIES sample, behind Real Madrid, Villarreal, Betis, Celta and Elche.
Notably, the study also places Atletico Madrid on a positive balance of €100 million and Girona on €101 million.
Villarreal stand out with a total positive balance of €387 million, comprising €60 million from players who have left and €327 million from those still at the club.
Betis have a positive balance of €294 million, split between €66 million and €228 million, respectively.
Both clubs have generated positive balances across both categories, whereas Barcelona’s overall position relies on the estimated value of their current squad offsetting the deficit from departed players.