BARCELONA – La Liga champions Barcelona said they will become the first sports club to generate revenue exceeding one billion euros ($1.10 billion) this season.
A statement from the club on Thursday said they had made record turnover of 990 million euros last season and projected an increase to 1.047 billion euros for the 2019/20 campaign.
"This figure represents a new record in the world of sport, and means the surpassing of internal forecasts, since the Strategic Plan approved by the Board of Directors expected profits to reach the figure of 1 billion euros in 2021," added Barca.
The club, which is owned by its fans, forecast a relatively modest profit of 11 million euros after tax in the current season, and said it had a debt of 217.2 million euros.
The Catalan club invested 255 million euros on players in the close season, the bulk of which was spent prising Antoine Griezmann from Atletico Madrid for 120 million euros and recruiting Frenkie de Jong from Ajax Amsterdam for 75 million.