While their figures may have improved on the previous campaign, Lazio still ended the 2025/26 season with a €10 million net loss.
Lazio Had a Challenging 2025/26
The Biancocelesti are coming off a difficult campaign that included a transfer ban, unsatisfactory results, a back-and-forth public spat between the president and the former head coach (Maurizio Sarri), and a major fan protest against Claudio Lotito’s administration, which remains active today. Moreover, the team didn’t take part in any European competition.
Needless to say, all of these factors have taken their toll on the team’s finances, even if the management tried to mitigate the losses by making sacrifices on the market.
Lazio Operated at a €10m Loss
Calcio e Finanza analysed Lazio’s financial figures for the 2025/26 campaign, which ended with a €10 million net loss. The source begins by noting that this figure has improved compared to the 2024/25 season, when the club registered a €17.2 million net loss despite playing in the Europa League.
Lazio Improve Revenues From €157m to €174m
The Biancocelesti took a slight hit in terms of broadcasting rights, which dropped to €88.5 million from €94.5 million. Unsurprisingly, their matchday revenues also fell from €22.9 million to €18.1 million.
Nevertheless, these downgrades were offset by the sale of Matteo Guendouzi, Taty Castellanos, and Loum Tchaouna, which earned the club €39 million in capital gains. This is a comprehensive improvement on the €11.5 million recorded the year before.
Detailed Lazio Revenues in 2025/26
- Matchday revenues: €18.1 million (€22.9 million in 2024/25);
- Broadcasting rights: €88.5 million (€94.5 million in 2024/25);
- Sponsorships, advertising and merchandising: €19.8 million (€20.9 million in 2024/25);
- Income from the management of player rights: €42.2 million, including €39.3 million in capital gains (€14.4 million in 2024/25, including €11.5 million in capital gains);
- Other revenues: €5.2 million (€4.9 million in 2024/25);
- TOTAL: approximately €173.7 million (€157.2 million in 2024/25).
Lazio’s Costs Also on The Rise
While Lazio managed to increase their revenues, their costs also went up from €174 million to €187.4 million. As the source explains, this is mainly due to personnel costs, which went from €98.2 million to €104.6 million. The club attributed this rise to an increase in the player and technical staff’s salaries, in addition to bonuses related to sporting results.
Detailed Lazio Costs in 2025/26
- Raw, ancillary, consumable materials and goods: €3.1 million (€3.4 million in 2024/25);
- Personnel costs: €104.6 million (€98.2 million in 2024/25);
- Expenses related to the management of player rights: €2.4 million (€0.9 million in 2024/25);
- Costs for services: €23.9 million (€26.6 million in 2024/25);
- Depreciation, provisions and write-downs: €46.3 million (€38.7 million in 2024/25);
- Other costs: €7 million (€6.5 million in 2024/25);
- TOTAL: €187.4 million (€174.3 million in 2024/25).
Summary
All in all, Lazio registered a €13.6 million loss, but the figure is reduced to €10 million after taking into account deferred or prepaid taxes.
On a positive note, the shareholders’ equity soared from -€16.8 million as of June 30, 2025, to +€113.6 million, mainly thanks to the revaluation of the club’s recently renovated training facilities at Formello.
On a more concerning note, the net financial debt almost doubled from €66.3 million to €126.4 million. The club justified the increase mainly by citing the greater use of self-liquidating credit facilities.
Wow… This is more concerning than expected.
Fabiani will need to replicate this transfer window while continuing to reduce the wage bill for the next 4 years in order to reach a true net zero.
This is largely based on the boycott ending for January.
Equity rising due to Formello becoming more worth is great news. The losses are worrisome as Lazio is looking at future income to solve those. Increasing equity is essential though, which can also be done by making players worth more. Selling players will be indeed be mandatory.
As good as Lazio is doing on the pitch and with that perhaps bringing the boycott to a sooner end. (Wishful thinking by club and perhaps myself)
I’m questioning the wages involved, which have been reduced. But still are way too high for a team that needs to get rid of transfer sanctions and become healthy. Without CL football it’s hard to see those gaps being closed. (which isn’t a realistic ask)
If Lazio is succesful, player value will go up. Raising capital by selling Frattesi (after buying him), Taylor, Noslin and a Tavares in the summer. Perhaps a Provstgaard or a Isakssen. Sell high buy low and reduce operation costs.
Not quite ideal, but for a club in distress. Survival is the most important.
Yes, the equity is a welcomed sight, but the financial hole can potentially change quickly.
CL football is one way to collect funds, but shouldn’t be relied upon. If Lazio can qualify for CL, we can expect 22m for pay. I base this off of Bologna’s performance last year as this is probably a realistic scenario for CL performance bonuses.
We would be asking a lot from Fabiani to create another net-zero mercato, while also climbing out of debt AND keeping Lazio competitive enough for CL football…
One sale, however, can drastically change the clubs fortunes. If Nuno can replicate his Baroni form (which he is doing well so far), this would register a significant gain while also lowering the wage bill. Lotito set his price at 70m during the Baroni year…
This may sound high, but for PL teams, this is pocket change. Lazio has 4 capable starting CBs as well, all of which are valued above 10m.
This isn’t something Lazio should rely on, but it’s another reason why I’ve been heavily critical of the medical staff.
3 years in a row, Lazio has ranked in the top 5 with squad injuries… Player’s value don’t increase in the clinic. Adding new personnel in the medical department won’t make headlines, but it will make results.
That’s alarming the amount of injuries indeed. Tavares staying healthy is beyond important for him becoming worth more and attract potential suitors, because indeed in a clinic the value doesn’t go up. Lazio also still owes a minimum of 20% of a potential sale or Tavares to, but likely closer to 25-30%. Still enough to fill gaps.