Santos FC have recorded a significant financial upswing in 2025, boosted by their return to the Campeonato Brasileiro Série A and the arrival of Neymar. The figures are contained in the balance sheet to be submitted to the Fiscal Council, consolidating the last season as a turning point in the club’s economic reorganisation.
Revenue Jumps After Serie A Return
Santos’ revenue reached R$ 678.5 million in 2025. That’s a 47.67% increase compared to the R$ 459.5 million recorded in 2024, when the team played in Série B. When compared to 2023, the year of relegation, the increase is even greater: up 66.7% on the R$ 407 million.
The difference in competitive context helps to explain some of this progress. Outside the first division in 2024, the club suffered significant losses in media and sponsorship contracts. These revenues are traditionally more robust in Série A. The return to the elite, in a scenario of increased value of these assets, especially with the aggressive entry of betting companies into the sports market, has repositioned Santos in the commercial ecosystem of Brazilian football.
Recurring Revenues Lead the Charge
One of the main drivers of financial performance was the growth of recurring revenues, which practically doubled. They increased from R$ 252 million in 2024 to R$ 490 million in 2025.
Within this category, broadcasting rights (including pay-per-view) and static advertising led the way, with R$ 174.8 million collected. This became the largest source among recurring revenues and the second largest in the overall total. Sponsorships followed, responsible for R$ 117.9 million, and the item “Other Revenues”, which includes rents and events, with R$ 100 million.
The member-supporter program also exceeded expectations. It generated R$ 52.8 million throughout the year, more than double the R$ 22.2 million initially projected by the board.
On the other hand, the sale of athletes showed a slight retraction, falling from R$ 207.5 million in 2024 to R$ 188.5 million in 2025. This movement reinforces the greater participation of recurring revenues in the total composition of cash flow.
The Neymar Effect
The return of Neymar had a direct impact not only on the club’s visibility, but also on its commercial revenues. With a base of more than 234 million followers on Instagram, the attacker expanded the global reach of the Santos brand and boosted activations with sponsors.
A concrete example was the change in the strategy for launching kits in partnership with Umbro. The original plan was to sell 200,000 shirts over 12 months. However, with Neymar in the squad, the club reached 240,000 units sold in the first half of 2025 alone.
The Santos club posted revenue of R$ 678.5 million, a 47.67% increase in one year and 66.7% compared to 2023, with advances driven by recurring revenues, media and commercial engagement.