One of Europe’s most successful soccer clubs is out of the red.
FC Barcelona reported a profit of $98.27 million for the 2021-22 financial year — and projects a profit of $274 million for this season, a 180% increase year-over-year.
The iconic Spanish club — the second-most valuable soccer team in the world at $5 billion, per Forbes — posted the favorable results after reporting a $1.5 billion debt last year.
- The La Liga club closed the 2021-22 financial year with a turnover of $1 billion.
- The club projects to generate $1.3 billion in revenue for the 2022-23 season.
- Its board of directors approved an operating income budget of $1.25 billion for 2022-23.
Barcelona has used several “economic levers” to alleviate debt and drive profits.
In June, the club secured a deal with private equity firm Sixth Street to sell a 10% stake in its TV rights worth up to $278 million. Barcelona doubled down in July after selling an additional 15% of its TV rights to Sixth Street for $326.5 million.
In August, Barcelona agreed to a deal with fan engagement company Socios.com to sell a 24.5% stake in Barca Studios — the club’s media production arm — for $102 million.
More to Spend
La Liga recently raised Barcelona’s spending limit by $803 million, up from a cap of $96 million in 2021. For the 2022-23 season, it will have a $655 million spending cap.