Spanish giant Barcelona’s period financial woes seems to be over as of now as the club has stated that they have recorded a profit of 98 million euros for the 2021-22 fiscal year and have predicted a profit of 274 million euros for the current season.
The Catalan club is currently ranked second on Forbes’ list of soccer team valuation with a current value of $5 billion, trailing marginally to Real Madrid who are worth $5.1 billion.
The club informed that the board of the directors have closed the financial year with a turnover of 1.017 billion euros for this year and will have an operating income budget of 1.255 billion euros for the ongoing season.
The club which was placed under financial sanctions by LaLiga earlier have not raised their spending cap by 800 million euros.
As per reports, Barcelona sold 25% of their domestic television rights to U.S. investment firm Sixth Street for the next 25 years in two deals worth over 500 million euros and also raised an additional 200 million euros from the sale of a total 49% stake in Barca Studios in two separate transactions, while also signing a long-term sponsorship deal with streaming giant Spotify in March.