News24
19 Sep 2019, 23:43 GMT+10
Barcelona - Barcelona expect to record revenues of more than one billion euros for the 2019-2020 season, becoming the first football club to pass the mark, the Catalan club announced on Thursday.
According to figures released ahead of the general meeting of their "socios" (supporters, shareholders) scheduled for October 6, Barca expect a revenue of €1.047 billion in the fiscal campaign just started, which is six percent more than last season when the club generated €990 million.
"It's an historic record for a sports club, it's better than the NBA and NFL franchises and other football clubs," Barcelona managing director Oscar Grau told a news conference.
Barcelona president Josep Maria Bartomeu had set a strategic goal of being the first outfit to reach the one billion euro mark by the end of his presidency in 2021.
Main sporting rival Real Madrid, president Florentino Perez targetted a similar goal.
In the projected budget presented by Barca, the expenses amount to €1.007 billion for a net profit after tax of €11 million.
Grau explained that "one of the club's challenges" was to "reduce the payroll" of its professional athletes.
In 2019-2020, spending on sports salaries is expected to fall by three percent, from €525 to 507 €million.
The club has budgeted €73 million to finance the remodelling of Camp Nou and its surroundings, a vast project called "Espai Barca".
Grau, who said in 2018 he was hopeful to find a title sponsor for the project by the end of the first half of 2019, said the club was continuing its research and studying alternative forms of financing.
"We want to make a good deal, we do not want to sell, so we are looking for a financial restructuring of Espai Barca so that the project does not stop," said Grau.
Regarding the accounts for the 2018-2019 financial year, the treasurer Enrique Tombas confirmed the figures mentioned during the summer by the club: €990 million of turnover, €973 million of expenses and a profit after tax of five million euros.
Get a daily dose of San Jose Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Jose Sun.
More InformationWashington DC [US], June 18 (ANI): Travis Kelce shared details about his future date night plans with his girlfriend Taylor Swift....
ESPN today announced updates to its 2025 Sunday Night Baseball Presented by Capital One and MLB on ESPN schedules. The Chicago Cubs...
Industry-leading NBA and College Basketball Voices to Provide Expert Analysis and Commentary Senior NBA Insider Shams Charania Makes...
Clifton Brown Marlon Humphrey's take is that the Ravens need to force more takeaways. That was a major point of emphasis throughout...
WASHINGTON, D.C.: Retail sales dropped sharply in May as consumer spending slowed after a strong start to the year, primarily due to...
WASHINGTON, D.C.: Mitsubishi Motors is the latest automaker to raise prices in the United States, joining a growing list of car companies...
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve...
BEIJING/WELLINGTON: New Zealand's Prime Minister Christopher Luxon commenced his visit to China on June 17, seeking to strengthen trade...
NEW YORK, New York - U.S. stocks made only minor moves in both directions,Thursday, as investors fretted about the Israel-Iran conflict...
PARIS, France: Luxury group Kering's decision to tap Luca de Meo as its next chief is being seen as a daring but necessary attempt...