Barcelona, Ajax, and PSG Face Backlash in Kit Revenue

UEFA published its The European Club Finance and Investment Landscape report this week. The recent data highlights dramatically different trajectories for three of Europe's most recognized clubs in the merchandising sector.

3 Teams of Top 20 Face Declining Kit & Merchandise Revenue

For Juventus, the 2023 report listed the same revenue, so we did not include them in the list of teams that had a decline in revenue.

The UEFA report features the Top 20 clubs in terms of Merchandise & Kit Revenue. 17 teams managed to increase their revenue, but three deal with declining earnings - FC Barcelona, Ajax, and PSG. We take a look at the stats and the reasons for the decline - it's different for each of the three teams.

Barcelona: Supply Chain and Uncertainty Limit Potential (-5%)

Barcelona had a 5% decline in kit revenue. The modest 5% decline in Barcelona's kit revenue is even more remarkable when examining the full extent of the logistical and production challenges the Catalan club faced throughout the last months.

Barcelona's merchandising operation was significantly hampered by prolonged uncertainty surrounding its Nike partnership. This contractual limbo directly impacted production schedules, with Nike reportedly scaling back manufacturing volumes amid questions about the long-term future of the relationship. The resulting inventory shortages created extended periods where official kits were simply unavailable in many markets.

Adding to these challenges, early-season shirts featured an outdated Spotify logo, creating confusion among consumers and retailers alike. This branding inconsistency not only affected the aesthetic appeal of the products but also led to hesitation from customers uncertain if to buy a kit with an old Spotify logo.

However, for FC Barcelona, the decline means that the club lost its top spot and fall behind Real Madrid, and maraginlly behind Bayern Munich..

Ajax: Sporting Struggles Damage Brand Appeal (-18%)

In stark contrast, Ajax Amsterdam faces a far more concerning situation, with kit revenues plummeting by 18% compared to the previous year. The Dutch giants' VERY bad season has severely damaged consumer interest in club merchandise, with the €33 million total reflecting how quickly sporting decline can impact commercial performance. This case illustrates the direct relationship between competitive success and merchandise demand, particularly for clubs outside the very elite tier.

PSG's 17% Decline Despite Fashion-Forward Strategy

Paris Saint-Germain's significant 17% drop in merchandise revenue can be directly attributed to the departure of marquee players, most notably Kylian Mbappé. The French superstar's exit, along with other high-profile departures in previous seasons, has dramatically reduced the club's global appeal despite its fashion-forward marketing approach. This commercial setback demonstrates how heavily PSG's merchandising strategy relied on individual star power rather than institutional brand loyalty.

2023 vs 2024 Kit Revenues - Barcelona, PSG & Ajax

Barcelona maintained a relatively stable performance with a modest 5% decline despite production issues, while PSG saw a significant drop of 17% following key player departures. Ajax experienced the steepest percentage decline at 18%, corresponding with their poor on-field performance during the season.

Do you think these three clubs will return to growth this year? Let us know in the comments below.