The reason teams lose money if that they pay large transfer fees, and they pay large wages. About a month or so ago I was watching TV and it was mentioned that Antoine Griezmann was getting something like £400k+ a week at Barcelona, now Griezmann is a good player, but was anyone else willing to pay him that amount of money! There should be no need for Barca, or Real Madrid, to offer wages way more than anyone else is willing to pay. If anything, they could pay slightly less, though still huge amounts, and rely on their 'appeal' to get the player to sign for them. Everyone wants to play for Barca or Real don't they!
Now it could be that by offering players so much more than anyone else, it is a deterrent to other teams to sign that player, as along with a large transfer fee, the potential buyer would need to match, or increase the wages the player is already getting paid to entice them to move, pricing many teams out of thinking of a deal. Not many would move for less money, Gareth Bale is evidence of that. And if that is what they are doing, don't be crying that you are racking up debt, you chose to pay the large transfer fees, and the obscene wages.
So if they are paying way over the top wages, added to the massive transfer fees, and going into debt, whilst being one of the most popular, and highest earning clubs in the world, you only have yourself to blame. You don't try and disrupt the whole of European football, and potentially the fortunes of national teams around the World, to try and fix the self inflicted debt.