The hottest theories about ‘Money Heist’ season 4

The international sensation Money Heist (La Casa de Papel) has blown up on Netflix since its premiere in 2017. The Spanish heist drama offers thrills, tragedy, and even a bit of romance at every turn, keeping us at the edge of our seats.

The fictional Money Heist could be a true crime series about the most crazy heists in history. With three seasons under its belt, Money Heist left fans on a giant cliffhanger with a bunch of loose ends that need tying up. 

Luckily, Netflix has seen the success of Money Heist and renewed the show for a fourth season, so our questions will eventually be answered. Season three of Money Heist left the thieves in a tight spot while in the middle of a heist on the Bank of Spain. The team seems to have reached a point of lost hope full of tragedy and disaster, with the Professor (Alvaro Morte) declaring war on the rest of the world. 

With another season coming in the near future, what can fans expect? Plenty have theories on what’s forthcoming, ranging from seemingly deceased characters who aren’t actually dead to the end game for the entire series. Let’s see what fans are expecting from the upcoming season of Money Heist and how likely each theory is to come to fruition.

Spoilers lurk in the vault below!

Alice (Najwa Nimri) is Tatiana (Diana Gomez)

This one doesn’t make a whole lot of sense, but the official Spanish Netflix Twitter account has mentioned this theory as well. Redditors have argued that inspector Alicia Sierra is the same person as Berlin (Pedro Alonso)’s ex-girlfriend, Tatiana. 

This seems to be a straight-up no, as both characters are distinctly played by different actresses. However, we do know Berlin tells Tatiana about the heist at the Royal Mint of Spain before he leaves to help, and flashbacks confirm this. Tatiana herself is a thief, so it seems unlikely she would assist the police, unless she was working undercover (a distinct possibility). 

The Professor may have recruited his brother’s girlfriend to help out in the plan, especially since S1-2 police inspector Raquel eventually joins them as Lisbon. We know this plan is meticulously calculated, years in the making. It makes perfect sense that Tatiana could be deep undercover, and that Lisbon’s police capture is a tactical diversion planned from the get-go.

Going on from this is the fan theory that Alice’s child is Berlin’s, and that Berlin is alive after all. We’re all in with this theory: fight us on it.

Likelihood: Unlikely

Nairobi (Alba Flores) isn’t dead

Tragically, operations wunderkind Nairobi meets her apparent demise in S3 after being shot by a sniper and dying in Helsinki’s (Darko Peric) arms. Thing is, Nairobi doesn’t die on screen. She does lose consciousness, but doesn’t officially leave this world. The key to this comes from the circumstances around her injury. 

Redditor Nyx_184 points out Nairobi is still holding onto her son Axel’s teddy bear when she’s shot, and the bear takes the brunt of the bullet. However, the bullet does lodge itself into Nairobi, but is still in her body. In shooting victims, a bullet remaining in the body is actually a good thing, as it blocks the wound and stops the body from losing as much blood.

Therefore time is of the essence to get Nairobi sufficient medical attention. If the team can get Nairobi out of the bank and to a hospital in enough time, they may not lose Nairobi. This is a stretch, and with such a mess of a war already created, it’s hard to see the police helping the robbers out. But knowing the Professor, it wouldn’t be surprising if he comes up with a successful plan. 

Likelihood: Possible

The gang escapes the Royal Bank by causing a popular revolt

There aren’t any official theories about this, but chatter online revolves around the Professor’s comment on war. By blowing up the police who were on their way to attack them, the Professor and the gang declare war on them. 

Though this war is started when the Professor thinks Raquel was dead, it wouldn’t be surprising if he continues to run with it anyway. All you have to do is look at the current political climate in Spain (and Paris and many other places in the EU) to realize this would be a populist plot point.

A large part of the gang’s heists is the idea of taking money away from controllers. This common theme is something many people in Spain can relate to. Plus, the red sweatshirts and masks comprise a great uniform for an unofficial army. If the gang continues to use the message of declaring war, they could easily start a revolution.

The main function of a revolt for the heist is splitting the authorities’ attention. Some police would have to break off from work on the robbery and attempt to contain protests. That could just be what the Professor needs in order to enact a new plan to smuggle his gang out of the Royal Bank to safety – with the gold. 

Likelihood: Near-guaranteed

Tokyo (Ursula Corbero) is the only one left alive in the end

As our trusty narrator for the past three seasons, Tokyo has taken us by the hand through the heists. We’ve gotten a close and intimate view of the action thanks to Tokyo, as she tells the story of the Professor and her teammates. But what if the story she’s telling is the past, and she’s recounting it as the only survivor?

Redditor redpa1ntt suggests the reason Tokyo is the narrator is because she’s the only one who survives the heists. While we’ve lost some members along the way, the majority of the gang members are from the original eight in S1. This theory implies that by the end of the series, The Professor, Rio (Miguel Herran), Nairobi (if she doesn’t die next season), and Denver all perish one way or another. 

Money Heist has been hugely successful for Netflix so far, so we can’t imagine this happening in season four. But it would make sense for a suitable end to the series when the time comes. After risking so much for the job, the team finally meets their maker, with only cheeky Tokyo making it out alive. 

Likelihood: Not next season, but very probable