LaLiga: Barcelona predict profit of €274 million for 2022-23 season

Barcelona: Barcelona have forecast revenue of €1.255 billion ($1.254 billion) for the 2022-23 season, with a predicted profit of €274 million. The Spanish side have been under great economic stress in recent years but gained financial leverage this summer with a string of operations which allowed them to strengthen the team. Barca signed Bayern Munich striker Robert Lewandowski, Sevilla defender Jules Kounde, Leeds United winger Raphinha and various other players on free transfers. They were able to do this after selling 25 per cent of their television rights to investment firm Sixth Street for the next 25 years, raising over €500 million. Barcelona also sold 24.5 per cent of their Barca Studios production company to fan token firm Socios.com and the same amount again to Orpheus Media, for around €100 million each. These deals, plus the return of supporters in droves after low attendances last season, mean their expected income for next season has risen from last year’s revenue of €1.017 billion and a profit of €98 million. In the 2020-21 season Barcelona posted losses of €481 million and blamed them for not being able to renew their all-time record scorer Lionel Messi’s contract, leading him to sign for Paris Saint-Germain on a free transfer. The club spent heavily for several years, bringing in Brazilian midfielder Philippe Coutinho from Liverpool in a club record deal worth up to €160 million in 2018, before later selling him to Aston Villa for around €20 million, among other ill-fated operations. Along with income being severely hit by the pandemic, it drove the team to the brink of crisis, with president Joan Laporta saying when he took over in March 2021 the team was “dead”. “We restructured the debt, we controlled the bills, we reduced the sporting salary a bit but not enough yet, we found new income and sponsors,” Laporta told club members in June. “We went from being dead to being in intensive care.” Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News ,  India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.