Poor Champions League run leaves Benfica €31.4m in the red

On October 4, the renowned Portuguese club Benfica announced that they faced a loss of €31.4 million for the 2023-24 season, based on a revenue of €179 million, not counting income from player transfers.

The revenue decreased by 8.6% compared to last year, mainly due to a significant 34% decline in earnings from European club competitions. Benfica was eliminated from the Champions League during the group stage, after reaching the quarter-finals in the 2022-23 season.

Even though Emirates has renewed its sponsorship deal with the club until 2029, the revenue from sponsorship dropped by 6%, totaling €22.5 million.

Broadcast revenue hit €50.5 million, marking a 3.3% rise, while ticket sales rose by 5% to reach €35 million.

When including transfer income, the total revenue for 2023-2024 reaches €256.4 million, which is a 10% decrease compared to last season. The club generated €77.3 million from player transfers, but the profit from these transfers dropped by 8% from the previous year, amounting to €58.4 million.

The salaries for the first team increased by 4%, reaching €110.5 million. In total, operating costs went up by 3%, totaling €252.2 million.

Following two games in the new Champions League season, which included a convincing 4-0 victory over Atletico Madrid, Benfica is currently in third place in the standings and is on track to secure a spot in the knockout stage under the updated UCL format.

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