Yes, some professional sports teams lose money—but the available figures do not support a reliable, apples-to-apples ranking of 15 named teams. Forbes estimates operating results for many teams, while club accounts may report a different measure, such as pre-tax loss. The clearest examples below are labeled by source, period, and accounting measure rather than presented as a false “Top 15.”
Why a defensible top 15 is not available
Forbes estimated that 37 of the 185 men’s sports teams it valued in 2025 failed to break even. That group included 16 MLS clubs and 11 MLB teams. Forbes did not name all 37 in the reported passage, so it does not provide enough team-level information to build a complete list of 15 with consistent figures.
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The figures that are available also do not all measure the same thing. Forbes’ cross-team comparisons use estimated EBITDA or operating income, while club financial statements may report pre-tax losses. The periods differ by league: Forbes’ dataset covers 2024 for MLB, MLS and the NFL; 2024–25 for the NBA and NHL; and 2023–24 for European soccer. A ranking that combines these values would imply a comparability the figures do not establish.
Named teams with reported losses
| Team | Period | Reported loss measure | Source and qualification |
|---|---|---|---|
| New York Mets (MLB) | 2024 | Estimated $268 million operating loss | Forbes estimate, published in 2026; Forbes attributes much of the loss to luxury-tax penalties. Forbes |
| Paris Saint-Germain (European soccer) | 2023–24 | Estimated $111 million operating loss | Forbes estimate, published in 2026. Forbes |
| Chelsea (English soccer) | Year ended June 30, 2025 | £262.4 million pre-tax loss | Club financial results reported by the Associated Press in 2026; this is an accounting figure, not the same measure as Forbes’ operating estimates. Revenue was £490.9 million for the year. Associated Press |
| Aston Villa (English soccer) | Accounts through May 31, 2023 | £119.6 million reported loss | Club accounts reported by the Associated Press in 2024. Associated Press |
These are examples, not a ranked comparison. The sources identify different periods and measures, and the reported amounts use different currencies. In particular, a pre-tax accounting loss should not be treated as directly equivalent to an estimated operating-income or EBITDA loss.
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Why a reported loss does not automatically mean a rules violation
Financial statements and league financial-rule calculations answer different questions. Chelsea reported a £262.4 million pre-tax loss for 2024–25, yet the club was deemed compliant with Premier League financial rules for the three-year period. Those rules exclude some spending categories when calculating losses.
Aston Villa likewise said it was within Premier League rules after reporting a £119.6 million loss in accounts through May 31, 2023. The Associated Press notes that infrastructure, women’s team, academy and foundation spending can be deducted in the league’s Profitability and Sustainability Rules calculations. Those adjustments do not erase the accounting loss; they affect the separate calculation used for compliance.
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Losses are real, but not universal across leagues
Forbes’ estimates show that losing money is not limited to soccer. Its 2025 analysis found negative operating results for 28 of 174 teams valued in 2024, including 15 MLS teams. Forbes’ later analysis estimated that 37 of 185 teams valued in 2025 failed to reach break-even, including 16 MLS clubs and 11 MLB teams. These are separate valuation-year snapshots, not a continuous count of the same teams.
There are also counterexamples. Forbes estimated that no NHL team operated at a loss in 2024–25 and that every NFL team had positive operating income in 2024, with the lowest at $21 million. An earlier Forbes estimate put every NFL team’s operating income at at least $56 million for the 2023 season; that figure applies only to that earlier season.
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What “losing money” does—and does not—tell you
- It does indicate a loss under a particular measure and period. Check whether the number is an estimate of operating income or EBITDA, or a figure from club accounts such as pre-tax loss.
- It does not mean the franchise is worthless. A team’s estimated value and its profit or loss for a particular season are different financial measures.
- It does not establish that an owner is insolvent. A team-level operating or accounting result is not, by itself, a statement about an owner’s overall finances.
- It does not prove a league-rule breach. League compliance calculations may exclude specified categories of spending, as the Chelsea and Aston Villa examples show.
How to read a team-loss claim
- Identify the period. A season, fiscal year, and multi-year league-compliance window are not interchangeable.
- Identify the metric. Look for terms such as operating income, EBITDA, net loss or pre-tax loss; do not assume they mean the same thing.
- Check who produced the figure. Forbes’ values are estimates; a club’s published accounts are reported financial results.
- Keep the currency and league context attached. Dollar and pound amounts from different periods should not be ranked without a defined conversion date and a consistent accounting method.
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