September 20 – Barcelona have announced profits of €98 million for the 2021-22 campaign and predict they will make another €271 million in the current season – despite crippling debts that at one stage delayed them from registering all their summer signings for this season.
Barca overcame the spending restriction by freeing up funding via so-called ‘economic levers’ which involved selling shares of their future television rights and their media production unit.
The deal to sell 10% of domestic TV rights to global investment firm Sixth Street was worth over €200m and was completed before June 30, which is the deadline for the financial year just reported. That provided the uplift in the 2021-22 financials
Barca then sold another 15% to Sixth Street in July for more than €300 million, as well as raising further finance via the sale of a 49% stake in Barça Studios in two separate transactions, raising an additional €200 million.
That gave them the financial headroom under LaLiga’s rule to register all their summer signings.
The club said on Monday their board of directors closed the financial year with a turnover of €1.017 billion – allowing them to turn a profit for the first time since the pandemic – and approved an operating income budget of €1.255 billion for this season.
The figures show a significant turnaround from 2020-21, when Barca posted losses of over €400 million and could not afford to register Lionel Messi’s new contract, leading the Argentine superstar to join Paris St Germain on a free transfer.
LaLiga have warned that Barca, who went on a huge recruitment campaign in the summer, may need to cut spending further as their limit could drop next season.
“Barcelona’s limit is [up to] €656 million and they needed this full amount, that’s why they were still registering players at the last minute,” LaLiga president Javier Tebas said at the presentation of the spending limits this month.
“Without the [sale of assets], it may not be so high next season. They may have to reduce their wage bill, sell players or even [sell more] assets. I think [Barca’s vice president Eduard] Romeu has said they need it to be at around €400 and something million. But they know all about this, it will be difficult for them to maintain [the new limit] next season.”
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