UEFA report forecasts European club revenues to top €30bn in 2025 amid cost pressures

European club football is on course to pass €30 billion in annual revenues for the first time, but UEFA has warned that record income does not guarantee profitability because costs continue to rise.In its latest European Club Finance and Investment Landscape report, UEFA said 2025 revenues are expected to exceed 2024’s record €28.6 billion, extending a decade-long growth trend across the game.The report said earnings increased across every nation and described a sector still expanding through UEFA competition distributions, broadcast rights, commercial partnerships and gate receipts. UEFA said that since 2015, European club football revenues have risen by more than €13 billion.UEFA also highlighted the continuing commercial strength of the player-trading economy. It said transfer earnings have grown 211% over the last decade, underlining the sport’s global reach and ability to monetise talent pathways.UEFA president Aleksander Čeferin said: “This edition of the UEFA European Club Finance and Investment Landscape report is quite special. Not only does it give a clear picture of European club football finances in 2026, but it also takes a step back to reflect on how the game has developed over the last ten years.“What the report shows is encouraging. After a decade that included one of the toughest periods our sport and society have faced, European football has come through in a strong position.“Despite the noise, despite the pressure, despite the doubts of some, European football’s future remains bright. The decade ahead will bring new pressures, but also real opportunities. With good insights, such as those provided by this report, European football can prepare more effectively – and work together to support a healthy, successful future.”UEFA said the key warning signal is cost growth outside the playing squad. The report said non-player wages have increased by 42% since 2021, while operating costs are forecast to account for 36% of total revenue in 2025, intensifying margin pressure even as income rises.UEFA said clubs have stabilised their biggest single cost line – player wages – which are now growing at around 2–3% per year, crediting squad cost regulations for slowing inflation. The report also flagged improved contract expiry management, including fewer players leaving for free, which UEFA said is covered in its first large-scale analysis of the issue.On profitability, UEFA said Europe’s top-division clubs returned to operating profit in 2024 for the first time in five years, supported by revenue recovery and record transfer profits. It added that challenges remain, including high financing costs and €1.1 billion in pre-tax losses, but said balance sheets are strengthening overall.Investor appetite remains strong. UEFA said there were 111 club investment deals in 2025, reflecting continued interest in football as an asset class despite tighter regulation and higher capital costs.UEFA said the report projects another year of strong financial performance, with new highs expected in revenue, commercial income and capital investment, while stressing that balanced growth, sustainable cost control and transparent governance remain central to long-term stability.