HISTORY: Barcelona has looked good on the football pitch this season, and off the pitch things seem to have improved as well.
The Spanish club said it made a profit of just over $98 million for the 2021-22 fiscal year.
And, going forward, he projects even brighter days ahead, with earnings forecast at $274 million for this season.
The club is one of the most successful in Europe, but has had financial problems in recent years.
Barcelona was forced to take drastic measures to try to improve its financial situation.
It sold a quarter of its national television rights to the American investment firm Sixth Street over 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 a further $200 million from the sale of a total 49% stake in its Barca Studios audiovisual production unit in two separate transactions.
It seems that the actions have worked.
The club, the second most valuable soccer team in the world according to Forbes, closed the fiscal year with a turnover of more than one billion dollars.
Earlier this month, the Spanish soccer league, known as LaLiga, raised Barcelona’s spending limit by $800 million.
That pulled the club out of a spending shortfall.
It meant the team was able to spend more than $150 million in the close season on major star players like Robert Lewandowski and Raphinha.