The Swiss Ramble

The Swiss Ramble

Share this post

The Swiss Ramble
The Swiss Ramble
Paris Saint-Germain Finances 2023/24
Copy link
Facebook
Email
Notes
More
France

Paris Saint-Germain Finances 2023/24

When You're Young

Swiss Ramble's avatar
Swiss Ramble
Apr 28, 2025
∙ Paid
8

Share this post

The Swiss Ramble
The Swiss Ramble
Paris Saint-Germain Finances 2023/24
Copy link
Facebook
Email
Notes
More
2
Share

In advance of Paris Saint-Germain’s Champions league semi-final against Arsenal, I thought that it would be interesting to once again take a look at the finances of the leading club in France.

Long known for their “Galacticos” model, PSG have dramatically changed their strategy in the last couple of years, following the departure of Lionel Messi, Neymar and Kylian Mbappé, replacing their expensive superstars with younger, hungrier players, as manager Luis Enrique has implemented his playing style.

Despite all the upheaval, PSG have once again won the league this season, which is their 11th title in the past 13 years (and their fourth in a row), while also reaching the final of the Coupe de France against Reims.

Success in Europe’s leading competition would be the icing on the cake for the club’s owners, Qatar Sports Investments (QSI), a subsidiary of Qatar's sovereign wealth fund Qatar Investment Authority (QIA).

They acquired PSG back in 2011, instantly making the club by far the richest in France and one of the wealthiest in the world.

However, they have posted huge losses in recent years, which means that they have struggled to comply with UEFA’s Profitability and Sustainability Regulations (PSR). Indeed, many fans of other clubs simply don’t understand how their big spending can possibly be in line with the targets.

We will therefore take a detailed look at PSG’s finances, focusing on the recently published 2023/24 accounts. These cover a season when they yet again won the league and the Coupe de France, but were eliminated in the semi-finals of the Champions League (by Borussia Dortmund).

Profit/(Loss) 2023/24

PSG reported another sizeable pre-tax loss of €56m, but this was only around half of the previous season’s €107m, mainly due to profit from player sales quadrupling from €45m to a club record €181m.

Revenue only slightly rose from €807m to €808m, but this was another high for the club. However, this was offset by operating expenses, which increased €79m (8%) to break through the billion Euros barrier.

Loss after tax also reduced from €110m to €60m.

There was good growth in most revenue streams, led by broadcasting, which rose €12m (8%) from €166m to €178m. Gate receipts increased €5m (9%) from €68m to €73m, while sponsorship and advertising was up €8m (2%) from €373m to €381m.

However, other income dropped €25m (13%) from €201m to €176m, mainly due to the second tranche of the Ligue 1 CVC private equity deal being lower than the prior year.

Somewhat surprisingly, given the departures of Messi and Neymar the previous summer, staff costs actually increased. The wage bill rose €38m (6%) from €621m to €659m, while player amortisation was up €8m (6%) from €124m to €132m and agent fees were slightly higher at €36m.

In addition, other expenses surged €32m (18%) from €182m to €214m, as rising inflation took its toll.

Despite the improvement, PSG’s €56m pre-tax loss was still the largest in France, ahead of Marseille €38m, Nice €27m and Monaco €15m.

Keep reading with a 7-day free trial

Subscribe to The Swiss Ramble to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Kieron O'Connor
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More