FC Barcelona forecasts big profit this season




 

STORY: Barcelona has looked good on the soccer pitch this season, and off the pitch it seems things have improved, too.

The Spanish club said it made a profit of just over $98 million for the 2021-22 financial year.

And, going forward, it projects even brighter days ahead, with a $274 million profit forecast for this season.

The club is one of Europe's most successful, but it has struggled with financial problems in recent years.

Barcelona was forced into taking drastic measures to try and improve its financial situation.

It sold a quarter of its domestic television rights to U.S. investment firm Sixth Street for the next 25 years.

That was part of two deals worth more than $500 million.

The club signed a long-term sponsorship deal with streaming giant Spotify in March.

It raised another $200 million from the sale of a total 49% stake in its audiovisual production unit Barca Studios in two separate transactions.

It looks like the actions have worked.

The club - the world's most second valuable soccer team according to Forbes - closed the financial year with a turnover of more than $1 billion.

Earlier this month, the Spanish soccer league - known as LaLiga - raised Barcelona's spending limit by $800 million.

That brought the club out of a spending deficit.

It meant the side was able to spend more than $150 million in the close season on major star players like Robert Lewandowski and Raphinha.

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