Barcelona want to complete their squad by January. The 1:1 rule could disappear next summer
Barcelona want to complete their major squad operations by January 2027, with another move to Montjuïc threatening their status under LaLiga’s 1:1 rule.
FC Barcelona have only just regained the ability to operate under LaLiga’s 1:1 rule, but they are already preparing to lose it again. According to Cadena SER, the club want to complete their most important squad operations by January 2027. Another move to Montjuïc will then bring lower revenue, higher costs and the familiar exercise known as “who can actually be registered this time?”
THE WINDOW COULD CLOSE EARLY
According to Cadena SER, Barcelona believe the coming winter transfer window will be their best opportunity to build a largely complete squad. That does not mean the club will stop making signings after January. The objective is to reduce the risk before the summer of 2027, when their financial position could become significantly more difficult again.
Barcelona returned to the 1:1 rule ahead of the current season. The mechanism allows the club to spend an amount equivalent to the money generated through player sales or salary reductions. It is still not the financial equivalent of an unrestricted playground, but compared with the limitations of recent years, it almost feels luxurious.
The problem is that this luxury may last for only one season.
MONTJUÏC WILL PRESENT ANOTHER BILL
Work on the Spotify Camp Nou roof is expected to begin in the summer of 2027. The team will therefore have to return to the Estadi Olímpic Lluís Companys and could remain there until January or February 2028.
For Barcelona, that means another fall in matchday revenue. Montjuïc has a smaller capacity, fewer commercial opportunities and creates additional operating costs. The club already know this scenario painfully well: the temporary stadium is very good at one thing — reminding them how much money can be generated at their own ground.
That is why Barcelona are considering the possibility of falling outside the 1:1 rule again. This is not an official LaLiga decision or a confirmed outcome. It is a financial projection reported by Cadena SER and the basis of the club’s current planning.
HALF A BILLION EUROS DOES NOT MEAN HALF A BILLION FOR TRANSFERS
The issue extends far beyond the first team. At the assembly of delegate members scheduled for 20 September, the board are expected to request approval for a €300 million extension to the financing provided by Goldman Sachs. The club also want authorisation to issue €210 million in bonds backed by future television-rights revenue.
That creates the possibility of securing another €510 million in financing. It is not, however, a bag of money being handed to Deco and the recruitment department. The funds are primarily intended to continue work on Espai Barça, including the construction of the stadium’s third tier and roof.
The distinction matters. Barcelona can discuss more than half a billion euros in additional financing while still counting every available euro in their salary limit. A loan for concrete does not automatically become a striker, however convincing the PowerPoint presentation may look.
ONE BILLION IN REVENUE, VERY LITTLE PROFIT
Cadena SER reports that Barcelona could finish the 2025/26 season with revenue of approximately €1.1 billion. The figure is impressive, but it does not tell the entire story. The club are beginning to carry the interest costs attached to Espai Barça’s financing, reportedly worth around €50 million per year.
Construction delays and lower-than-expected stadium revenue add further pressure. As a result, enormous turnover may produce only a minimal profit or leave the club close to breaking even. One billion euros passing through the club sounds powerful. One billion euros that already knows exactly where it is going sounds slightly less impressive.
DECO HAS A DEADLINE
The sporting conclusion is clear: Barcelona want to use this period of relative freedom before the cost of another stadium move begins shaping the squad again. Major signings, contract renewals and sales are expected to be addressed before the end of January.
The club have not publicly confirmed a list of planned operations or specific targets. There is also no guarantee that Barcelona will lose their 1:1 status in the summer of 2027. The plan nevertheless shows that the board do not view the current normality as permanent.
Barcelona have regained freedom in the market after several years of financial gymnastics. They now want to build their squad before Montjuïc turns the lights off again and asks to see the salary limit.
