Sporting Clube de Portugal continues to establish itself as one of the most relevant Clubs in European Football, especially due to its excellence in Youth Development.
This is something unique about Portugal—something that enhances the image of all Clubs in the country, all Coaches, all Players, and everyone involved.

There can be no doubts about this—Portugal is one of a kind!

And we all benefit from it.

Naturally, for those living inside the Portuguese Football bubble, this impact may feel different than for those who experience it abroad.
It’s normal.
The impact of Cristiano Ronaldo doesn’t even need to be mentioned, but the fact that Portugal has so many world-class professionals—athletes, Coaches, Football agents, Sporting Directors, and more—ensures that the way we are received worldwide is incredibly positive.

But let’s get back to the focus of this post—the financial analysis of Portuguese Clubs.
The latest data shows that Sporting CP—and other Portuguese Clubs—are facing major challenges in terms of Economic Sustainability and Market Competitiveness.

Revenues in Decline

With €102 million in Operating Revenue for the 2023/24 season, Sporting recorded a 14% drop compared to the previous year.
This places the Club at 23rd place among the top 25 European Clubs by Revenue, far behind rivals like Benfica (€179M) and FC Porto (€174M).

Several factors contribute to this decline:

• Underwhelming Performances in European competitions, reducing UEFA prize money and Broadcasting Revenues.
• Limited ability to generate Commercial Revenue, a common issue among Portuguese Clubs that (by far) cannot compete with the financial giants of the Premier League, LaLiga, or Bundesliga.
• Dependence on Player Sales, which can compromise long-term Sporting Stability.

Clubs—and all key Stakeholders—must carefully assess the reasons behind these results (which, by the way, apply to any Organization, no matter the Industry) and determine Strategies to improve them. 

This is critical.

High Costs and Financial Risk

One of the most concerning aspects is how much of Sporting’s Revenue is consumed by Staff Costs.

This is a recurring trend among Portuguese Clubs and something that MUST be a central focus for EVERYONE.

Sporting CP has a wage-to-Revenue ratio of 89%, one of the highest in Europe, second only to Paris Saint-Germain (83%).

For context:

• Real Madrid, the highest-earning Club (€1.065B), has a ratio of just 47%.
• Manchester City, the reigning European Champion, maintains a 57% ratio.

Of course, we are talking about top-tier scenarios, which makes it difficult to compare with the Portuguese reality, especially in terms of Revenue Generation.
Still, Sporting CP recently took a bold approach to merchandising, which was criticized by many, yet proved to be a success, with record-breaking Sales of limited-edition kits, as an example.

This means more bold Strategies must be created and implemented to build a more Sustainable Business Model and increase Profitability.
As always, there is no single action that will miraculously fix everything—it’s the sum of all actions that makes the difference.

That being said, just as Real Madrid and Manchester City operate on a completely different scale than Portuguese Clubs, Sporting CP also has a different reality compared to most Professional Clubs in Portugal—and even more so compared to amateur Clubs.
But every Club—regardless of size—can learn from the Strategies of others and implement them on a proportional scale.

Going back to the topic—this data clearly shows that Sporting CP is spending too much on wages compared to what it generates.
This cannot be ignored.

The Vital Role of Youth Development

Despite its financial challenges, Sporting CP remains one of the best Youth Development Clubs in the world.
According to this study, between 2019/20 and 2024/25, Sporting generated €181M from Academy Player Sales, second only to Real Madrid (€218M).

This strong focus on Youth Development has been crucial for balancing the books and keeping the Club competitive.
But let’s be clear—this is not just a Sporting CP strategy—it is a National Strategy.
And it must continue to be seen this way, because as things stand today, Portugal simply cannot compete financially with the major European Clubs.

Understanding why this is the case is, naturally, of enormous importance.

However, we also need to recognize the risks—relying too heavily on Player Sales to Sustain Finances is (and always will be) risky.
It weakens the Club’s ability to retain talent and build a strong squad in the long run, and adds massive pressure on the Academy to continuously produce top Talents year after year.

Comparing with Rivals

For Portuguese Clubs, this isn’t exactly news, but on an international scale, Sporting CP is (very) far behind Europe’s biggest Clubs in terms of Revenue and Investment Power.

However, within Portugal, Sporting remains one of the country’s biggest Clubs—although, interestingly, it lags behind Benfica and FC Porto in total Revenue.

Squad Market Value:

• Real Madrid: €1.364B
• Manchester City: €1.231B
• PSG: €1.041B
• Sporting CP: €448M

The gap between Portugal and the rest of Europe is huge.
Just as there is a massive gap between Sporting CP, Benfica, and FC Porto—and 90% of the other professional Clubs in Portugal.
Or maybe even bigger.

Still, Sporting—and Portuguese Clubs in general—remain competitive thanks to an efficient scouting system and top-tier youth development programs.

The Big Question: What’s Next?

To ensure long-term Stability and growth, Sporting CP needs to:

• Expand Commercial and marketing Revenues, reducing dependence on Player Sales.
• Improve European Performance, securing regular Champions League appearances, aiming for deeper runs, and ultimately winning a European trophy.
• Reduce the wage-to-Revenue ratio, restructuring Costs to ensure greater Financial Sustainability.

Even though this analysis is focused on Sporting CP, the same applies to ALL Portuguese Clubs.
For Sporting CP—just like for the others—these are essential steps to continue growing Financially and strengthening its position in European Football.

The data presented here is taken from the recent Study conducted by Football Benchmark.