The EuroLeague's 2025-26 season is shaping up to be a financial showdown, with some teams splashing the cash and others playing it safe. But who's spending big, and how does it impact their chances?
Panathinaikos Athens: The Big Spenders
BasketNews reveals that Panathinaikos Athens tops the EuroLeague's payroll charts for the upcoming season, with a whopping €26.5-27.0 million estimated player salary budget. This comes after the signing of Nigel Hayes-Davis, a significant investment to retain their championship-winning core and aim for another title on home turf.
Olympiacos and the Newcomers: Joining the High-Rollers
Olympiacos Piraeus aren't far behind, with a budget of €22-22.5 million, but the real surprise comes from the newcomers. Hapoel Tel Aviv and Dubai Basketball, both new to the EuroLeague, have already joined the big spenders, ranking in the top five with estimated budgets of €20 million and €18.5 million, respectively.
But here's where it gets interesting: these figures only represent player salaries after taxes. When considering total club budgets, the rankings might shift dramatically. Real Madrid, for instance, boasts a budget exceeding €40 million, while Bayern Munich's reported budget reaches €48 million, largely due to tax structures in Spain and Germany.
The Spending Gap: Does Money Buy Success?
BasketNews' research highlights a significant spending gap between the top 12 and bottom 8 teams. AS Monaco and Emporio Armani Milan, estimated at over €13.5 million, are miles ahead of Valencia, who operates on less than €10 million. Yet, Valencia and Zalgiris Kaunas, ranked 13th and 16th in payroll, remain competitive, challenging the notion that money always equals success.
And this is the part most people miss: the EuroLeague's limited transparency policies mean these figures are estimates, leaving room for error. Some clubs advocate for more transparency, but the league has yet to publicly disclose contracts or share player salary data.
The Luxury Tax: A Game-Changer?
With the EuroLeague's new Competitive Balance Standards, or 'luxury tax,' teams spending over €10 million on net salaries face penalties. This rule, introduced in 2024, has seen adjustments, and the more a team exceeds the limit, the higher the penalty. These penalties are then shared with compliant teams. But will this tax level the playing field or simply create more controversy?
As the transfer deadline looms, teams will strategize their finances. Will the big spenders dominate, or will the underdogs defy the odds? The 2025-26 EuroLeague season promises to be a financial and athletic spectacle, leaving fans and experts alike with plenty to discuss.
