traditional sports are funded by taxes, the stadiums for local teams are built by the governments which are funded by taxes not by the teams most of the time.
by the way, you are right, they are owned by nobody. the management for the team still had to sell TV rights to make money to buy players to get to this point.
https://www.forbes.com/sites/zakgarnerpurkis/2022/07/22/a-500-million-clue-why-fc-barcelona-can-afford-so-many-players/
this is like Valorant giving each team a chunk of viewership money and a team literally selling stake just to afford to buy players. it shows how bad it is. now in 2024, 2 years later, yes they are finally in the profit but like I said, this is a record breaking year. what if everything goes down even 10%? they are immediately unprofitable again. we have seen this in other esports, Copenhagen Flames + ENCE were profitable for a year and immediately weren't again because the business is volatile.
what other points do you have?
oh yeah another note
Camp Nou is literally funded by a bunch of investment companies which FC Barca has to pay back
Barcelona added that they signed the agreement with 20 investors, including Goldman Sachs (GS.N), and JP Morgan (JPM.N).
The Spanish club are set to pay back investors in progressive tranches - after five, seven, nine, 20, and 24 years - with a flexible structure, including a grace period.
them making 300m this year which they have to put towards paying off their already massive debt doesn't mean much when they still have that to pay off in the future as well.
another thing to bring up, most sports teams also get massive tax deductions which helps a ton, which brings it back to funded by government as they want to keep these teams going since it brings cities itself revenue.