Champions League wage divide: The financial gulf between contenders in the last 16
| Updated: February 27, 2025Next week, the first legs of the Champions League round of 16 will take place as the competition moves into its knockout phase. The draw paired the eight teams that advanced through the playoffs with the top eight finishers from the league phase, setting up match-ups that will test both squad depth and financial backing. In the build-up to these ties, the team at Sportingpedia examined how much each of the 16 participants spends on annual salaries. Using data from Capology.com, we analysed the financial power behind each contender and calculated the wage differences between every round-of-16 pairing.
Our findings reveal that the 16 clubs combined pay just over €2 billion in annual wages. The gap between the highest and lowest-paying teams is staggering, with Real Madrid’s wage bill more than 12 times that of Club Brugge. Another curious revelation is that the most unbalanced match-up in financial terms is the all-German clash between Bayern Munich and Bayer Leverkusen. On the other end of the spectrum, the most evenly matched tie is between PSG and Liverpool.
Key Takeaways:
- The 16 teams combined pay just over €2 billion in annual wages
- The average annual wage bill among the Champions League round of 16 clubs is €129.8M, splitting the teams into two equal groups—Atletico Madrid (€136.42M) sits at the bottom of the higher spenders, while Aston Villa (€127.23M) leads the lower half
- Five clubs — Real Madrid, Bayern Munich, PSG, Arsenal, and Barcelona — spend over €200 million on salaries
- Four teams — PSV, Feyenoord, Club Brugge, and Lille — operate with annual wage budgets below €50 million
- All three clubs with the highest wage bills — Real Madrid, Bayern Munich, and PSG — failed to qualify directly for the round of 16 and had to go through the playoffs
- The gap between the highest and lowest-paying clubs is over 12 times, with Real Madrid spending €272.96 million and Club Brugge €22.5 million
- The smallest wage gap is between PSG and Liverpool, with the French club spending €54.42 million more than their Premier League counterparts
- The pair of Bayern Munich and Bayer Leverkusen present the biggest wage gap in the round of 16, with a €178.87 million difference between them
- Atletico Madrid’s €136.42 million wage bill is almost exactly half of city rivals Real Madrid’s
Among the 16 teams in the Champions League round of 16, financial disparities are evident in wage spending. Five clubs—Real Madrid, Bayern Munich, PSG, Arsenal, and Barcelona—commit over €200 million annually to salaries, while four—PSV, Feyenoord, Club Brugge, and Lille—operate with significantly lower budgets, all under €50 million. Real Madrid’s wage bill alone is more than 12 times higher than that of Club Brugge, the smallest spender at this stage. However, financial strength has not translated into an easier path, as the three highest-spending clubs, Real Madrid, Bayern Munich, and PSG, all had to advance through the playoff round rather than qualifying directly.
The average annual wage bill among the round of 16 clubs stands at €129,795,214, perfectly dividing the field into two groups. Eight teams exceed this figure, while the other eight fall below it. Atletico Madrid, with €136.42 million in salaries, sits at the bottom of the higher-spending category, while Aston Villa, at €127.23 million, is the highest-paying club among the more financially modest sides.
Among the individual matchups, the largest financial divide appears in the all-German clash between Bayern Munich and Bayer Leverkusen. The Bavarians’ €262.42 million wage bill exceeds that of their domestic rivals by €178.87 million. Arsenal’s meeting with PSV presents a similar gap, as the English side’s €204.91 million wage expenditure is over six times larger than the Dutch club’s €32.23 million. Benfica faces a comparable challenge against Barcelona, with the Portuguese team spending exactly €150 million less on wages than their Spanish counterparts.
At the opposite end of the spectrum, PSG’s clash with Liverpool is the most financially balanced fixture in this round, with a wage gap of €54.42 million. Borussia Dortmund’s encounter with Lille is another relatively even contest in financial terms, as the German side outspends the French club by €64.25 million.
The Madrid derby stands out as one of the most compelling financial comparisons. Real Madrid’s wage bill of €272.96 million is exactly double that of city rivals Atletico Madrid, with the resulting €136.54 million gap highlighting the contrast in their financial strategies despite both clubs being regular contenders in European football.
Elsewhere, Aston Villa’s meeting with Club Brugge presents a significant wage imbalance, with the Belgian club’s €22.5 million budget falling €104.73 million short of their Premier League opposition. Feyenoord’s tie against Inter follows a similar pattern, as the Dutch champions operate on a €31.74 million wage bill—less than a quarter of the €143.02 million spent by their Italian opponents.
These figures highlight the stark financial inequalities among Champions League participants. While some clubs maintain elite squads with substantial wage commitments, others rely on strategic squad building and tactical execution to remain competitive. As the round of 16 unfolds, the question remains whether financial power will dictate results or if teams with smaller budgets can defy expectations.