European football’s financial divide is becoming increasingly clear. While Bundesliga continues to operate as the only consistently profitable major league, the rest of Europe’s top competitions are drowning in red ink — led by the Premier League, which recorded losses of €939 million during the 2024-25 season.
According to an analysis presented by LaLiga, the English top flight’s financial situation remains heavily dependent on billionaire ownership groups and extraordinary accounting operations, including clubs selling assets such as women’s teams and real estate holdings to related entities.
In stark contrast, the Bundesliga generated €272 million in profits last season, with 28 of its 36 clubs finishing the year in positive territory. Germany’s football model, largely built around member ownership and financial sustainability, continues to stand apart from Europe’s other major leagues.
LaLiga described its own financial situation as “contained,” despite combined losses of €164 million across Spanish professional football. Spain’s economic control regulations continue to limit excessive overspending and force clubs to quickly correct financial imbalances.
The biggest concern, however, lies with the leagues operating under what many now describe as a “losses-for-success” model. Alongside the Premier League, both Serie A and Ligue 1 continue to gamble financially in pursuit of qualification for European competitions.
Italian football clubs collectively lost €493 million last season, while French football’s crisis deepened dramatically. Clubs across Ligue 1 and Ligue 2 posted combined losses of €521 million in 2024-25 — double the previous year’s figure and one of the worst financial results outside the pandemic era.
Several of France’s biggest clubs posted alarming deficits. Paris Saint-Germain lost €40.1 million, Olympique de Marseille recorded losses of €104.8 million, while Olympique Lyonnais ended the season €208.6 million in the red amid severe financial turmoil.
Meanwhile, England’s lower divisions are also showing signs of financial instability. Clubs in the Championship reportedly accumulated €311.5 million in losses, with multiple teams receiving points deductions for breaching financial regulations.
The growing imbalance has intensified concerns around the long-term sustainability of European football. While Germany and Spain continue emphasizing preventive financial controls, England, Italy, and France remain trapped in a cycle where clubs increasingly risk financial collapse in pursuit of sporting success.