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FC Barcelona have enjoyed a summer transfer window to remember, with Deco bringing in players such as Anthony Gordon, Karim Adeyemi, Rodri, Joao Cancelo and Gabriel Jesus.

The Catalan giants’ financial recovery was there for all to see this summer, with Barça finally in a position to spend after those restrictions were lifted.

That revival has now received another major seal of approval, with the club currently ranked as the second-most valuable football club in the world.

According to Mundo Deportivo, Forbes now values Barcelona at $7.5 billion, which marks a 33 percent rise from last year’s $5.65 billion.

Barça have moved ahead of Manchester United, who are valued at $7.2 billion, with only Real Madrid above them at $9.5 billion.

This rise has come alongside notable growth in Barcelona’s broader business operations.

The club are expected to announce record revenue for the 2025-26 financial year, closing in on €1.1 billion after posting €994 million in the previous season.

Forbes’ valuation is especially noteworthy because it is based on figures from the end of the 2024-25 season.

At that point, Barcelona were still some way from receiving the full financial benefit of their redeveloped stadium.

The breakdown assigns $3.012 billion of Barça’s valuation to commercial operations, $1.682 billion to broadcasting, $1.454 billion to ticketing and matchday activity, and $1.352 billion to the Barcelona brand.

This is where the next phase becomes particularly interesting.

Real Madrid have already been running the renovated Santiago Bernabeu at full capacity, including its premium sections. Barcelona, meanwhile, are still gradually unlocking the revenue potential of Spotify Camp Nou.

Once completed, the stadium is expected to accommodate 104,600 supporters and include around 9,400 VIP seats. Parts of the new premium sections are also set to become operational during this season.

That leaves considerable scope for matchday and hospitality income to rise beyond the numbers currently used in the valuation.

Barcelona also have enormous commercial upside through a young, successful squad and global stars such as Lamine Yamal.

The La Liga champions still have ground to cover on Real Madrid, so the $2 billion valuation gap should not be brushed aside.

Even so, the overall direction is highly encouraging. Barcelona have climbed 33 percent in a single year while their most important commercial asset is still only partially operational.

The sporting project is already built to compete at the highest level. If Camp Nou generates the revenue expected from it, Barça could overtake Madrid and reach the top in the years ahead.