On Thursday, La Liga published the 2026/27 wage caps – the total amount each team is allowed to spend on its squad. Real Madrid, the financial powerhouse, has increased its lead once again, whilst FC Barcelona has narrowed the gap – because a financial black hole, in the truest sense of the word, has been closed.
Squad cost caps, commonly known as wage caps, determine how much each team is permitted to spend on its squad in relation to its revenue, expenditure and debt. Real Madrid are once again miles ahead in this respect: the ‘Blancos’’ limit rose from 761 million euros in the last two transfer windows to a record 832 million euros. The ‘Blancos’ used savings from the previous year to increase their limit; up to 25 per cent is permitted under the regulations.
Barcelona has nevertheless managed to narrow the gap on Real slightly. Compared with the last winter transfer window, the spending limit now stands at 582 million euros instead of 432 million euros. This increase is partly due to the return to Camp Nou, which is generating more revenue. Furthermore, according to a report in *Marca*, fixed costs have become more stable and losses have been reduced. According to documents relating to the 2025/26 financial year, operating revenue of 1.06 billion euros was generated, which represents a new club record. However, gross debt still stands at 910 million euros.
Atlético on the podium – FC Sevilla bring up the rear
Third place is occupied by Atlético Madrid, which improved from 336 million to 361 million euros. Once again, the former top-flight club FC Sevilla occupies last place; the cash-strapped Andalusians have the lowest wage cap at 20 million euros – even four teams from the Spanish second division are in a better position. This makes Sevilla’s start to the season all the more remarkable, with seven points from their first four matches.
The leaders in the second tier by a considerable margin are the relegated sides Girona and Mallorca (35 and 34 million euros respectively), followed by Leganés and Oviedo (both 20.7 million euros). Almería, which for a long time benefited from a now-defunct group of investors led by Turki Al-Sheikh from Saudi Arabia, now brings up the rear with just 3.9 million euros.