Messi’s Property Portfolio Hits Turbulence Amidst Business Expansion

Lionel Messi, widely regarded as one of the greatest footballers of all time, has built a substantial fortune extending far beyond the pitch. However, recent financial reports reveal a complex business landscape, with his real estate venture, Rostower, experiencing significant losses despite his continued success and global brand recognition.

Real Estate Losses Deepen for Messi’s Rostower

Rostower, the property firm owned entirely by Messi, reported losses of nearly €7.5 million in 2024 – a 317% increase in year-on-year losses. While these figures don’t necessarily indicate a cash outflow or a failing business, they do reflect a decrease in the valuation of the company’s property investments. The company, which transitioned into a publicly traded real estate investment firm (SOCIMI) last year, operates primarily through property rentals, including residential, commercial, and hotel properties.

The SOCIMI structure offers tax advantages, requiring the company to distribute at least 80% of its profits as dividends, which are then taxed at the shareholder level. This structure is increasingly popular with high-net-worth individuals seeking to optimize their investment portfolios, mirroring trends seen with similar ventures in Spain and across Europe.

A Diverse Property Empire

Messi’s property holdings are diverse and geographically widespread. They include residences in prime locations such as Barcelona’s Sarrià-Sant Gervasi district and Castelldefels, a duplex in London, an apartment in Paris, and a property in Ibiza. Beyond residential holdings, Rostower also owns office buildings in Sitges and Castelldefels, as well as the Rostower Building in Barcelona’s Eixample district.

However, the most significant portion of Rostower’s revenue comes from its hotel portfolio. These hotels, operating under the MiM brand, generated €5.7 million in revenue in 2024, though this represents a slight decrease of 3.9% compared to the previous year.

Hotel Management Shift to Meliá

In a recent strategic move, Messi transferred the management of his six MiM hotels – located in Sitges, Sotogrande, Mallorca, Ibiza, Baqueira Beret, and Andorra – to Meliá Hotels International last month. This partnership, under The Meliá Collection banner, aims to leverage Meliá’s expertise in hotel management and expand the reach of these luxury properties. A seventh hotel, located in the Valle de Arán, remains outside of this agreement.

Beyond Real Estate: Endorsements and Brand Power

While Rostower faces challenges, Messi’s overall financial picture remains robust, fueled by lucrative endorsement deals and image rights. His long-standing partnership with Adidas, dating back to 2007, is estimated to generate around €25 million annually, plus additional revenue from jersey sales. He also has significant agreements with Apple TV, Pepsi, Lay’s, YPF, and Louis Vuitton, demonstrating his enduring appeal to global brands.

According to industry analysts, the strategic shift towards diversifying income streams, like the Apple TV deal which ties revenue to MLS subscriptions, is a common practice among top athletes seeking to maximize their earning potential. This approach mitigates risk and capitalizes on the growing popularity of sports streaming services.

Family Involvement and Business Structure

Messi serves as president of Rostower, with his wife, Antonela Roccuzzo, holding the position of vice president. Key advisors include Ramón Adell, a BBVA board member, and Alfonso Nebot, who oversees all of Messi’s business ventures through Limecu España 2010 – the parent company of Rostower.

Limecu España 2010 reported revenues of €109.3 million in 2023, a 49.5% increase, and profits of €15.1 million, a 34.9% rise. A significant portion of this revenue is attributed to Leo Messi Management, the company responsible for managing his image rights.

The situation highlights the complexities of managing a global brand and diverse investment portfolio, even for one of the world’s most successful athletes. While Rostower’s recent losses are a setback, Messi’s overall financial strength and strategic partnerships position him for continued success in the business world.