In a surprising financial turnaround, Barcelona Football Club has reported a post-tax profit of 304 million euros ($321 million) for the 2022–23 season, surpassing their earlier projections and marking a significant step in their bid to stabilize their financial situation.
The club, which initially forecast revenues of 859 million euros for the current season, issued a statement declaring, “Barcelona closed the 2022/23 financial year with a net profit of 304 million euros after tax, exceeding the expectations outlined in last season’s budget.”
This remarkable profit figure far exceeds the budgeted amount of 274 million euros for the 2022–2023 season, surpassing expectations by an impressive 30 million euros.
In addition to the profit announcement, Barcelona also revealed a substantial reduction in their net debt, which had been reduced from 680 million euros in June 2021 to 552 million euros by the end of the last fiscal year.
Looking ahead to the 2023–24 season, Barcelona has projected a pre-tax profit of 11 million euros, showing signs of continued financial improvement.
“The club has made significant strides across all areas of its operations,” Barcelona emphasized, highlighting noteworthy successes in commercial endeavors such as ticket sales, sponsorship deals, and merchandise sales.
One standout achievement is the club shops’ record-breaking sales, which reached an astounding 100 million euros, setting an all-time high.
Barcelona’s financial resurgence comes as the Spanish league enforces strict controls on club spending, particularly regarding player salaries and transfers, in accordance with financial fair play rules. Just two weeks ago, Barcelona’s spending cap was reduced to 270 million euros, a significant decrease from their previous limit of 649 million euros. This previous figure had been artificially inflated through the sale of future television rights income and other financial maneuvers employed by the club.
Failure to adhere to the new spending limit could result in Barcelona being subject to further restrictions, limiting their ability to use only around 50 percent of their income for squad improvements until necessary cuts are made to align with the revised spending cap.