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According to an article (paywalled) in today's FT: https://www.ft.com/content/d747554e-cd5f-44f1-ac11-8b3f077c0f6c Ligue 1 and 2 clubs lost €1.05bn in the 2022/23 season on revenue of €2.7bn. Net Transfer Fees cut losses to €300mn. Since then, Messi and Mbappe have left the league (without fees) and they have no broadcast contract, ten weeks before the start of the new season, after finding no bidders at their reserve price of e800m pa. And 15% of the league now belongs to private equity (CVC).