Barcelona announce profits of 98 million euros in 2021-22, predict growing to 274 million this season

Barcelona: Barcelona have announced profits of €98 million for the 2021-22 season and predict they will make €274 million in the current season. Additionally, the Catalans said revenue last year totalled at €1.017 billion, which allowed them to turn a profit for the first time since the pandemic. The club directors approved an operating income budget of €1.255 billion for this season. The club’s accounts were boosted by the sale of 10% of the club’s domestic television rights to global investment firm Sixth Street at the end of June. That deal was worth over €200 million and was completed just before 30 June, the deadline for the financial year. Barca then sold another 15% of their LaLiga TV rights to Sixth Street in July for over €300 million and two 24.5% stakes in Barca Studios for around €200 million in operations. These income sources will be factored into revenue for the 2022-23 season. The latest financial details mark a remarkable turnaround from 2020-21, when Barca posted losses of over €400 million and could not afford to register long-time player and club legend Lionel Messi. The Argentine’s contract proved out of LaLiga-imposed spending limit, leading the attacker to join Paris Saint-Germain on a free transfer. Despite being on the doldrums for many times in the summer, the sale of club assets and positive predictions have enabled club’s spending limit to grow. That allowed Barcelona to spend over €150 million in the summer on Robert Lewandowski, Raphinha and Jules Kounde, while Franck Kessie, Andreas Christensen, Marcos Alonso and Hector Bellerin all arrived as free agents. On the pitch, Barcelona are second in the league with 16 points after six games, two points behind Real Madrid. Barcelona are ranked second on Forbes’ list of football team valuations with a current value of $5 billion, behind league rivals Real Madrid, who are valued at $5.1 billion. Read all the Latest News , Trending News ,  Cricket News , Bollywood News ,  India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.