Benfica's SAD recorded profits of 19.1 million euros in the 2025-2026 season, a 44% reduction compared to the previous season. This decline was mainly due to non-participation in the Club World Cup and a below-expected performance in the Champions League, which yielded only 53 million until elimination in the round of 16, less than the 70 million from the previous season. Without the 47.4 million euros in gains from player transfers, the Eagles would have registered losses of approximately 15 million.
Despite the decline in results, Benfica's SAD achieved record growth in several operational revenue categories. Television earnings reached an all-time high of 55.7 million euros, driven by the renewed contract with NOS for over 100 million until 2027-2028, while matchday revenue rose to 45.2 million. Operating revenue excluding player rights totaled 214.4 million, a 7% decrease compared to the previous year.
Operating expenses excluding player rights increased by 1.2% to 229.4 million euros, mainly explained by the growth in impairments. The SAD's liabilities exceeded 500 million, reaching 513.9 million at the end of June, an increase of nearly 40 million compared to the previous year, justified by the growth in commitments to suppliers.
Vice-president and financial director, Nuno Catarino, acknowledged that the brand impresses, but stressed that assets grew even more to 650 million and that net debt fell by more than 10 million to 184.9 million. Equity improved for the second consecutive year, with net assets rising to 135 million.
