FC Barcelona presents biggest budget for sports club in history

Barcelona Oct 11 (IANS) Catalan football giants FC Barcelona on Wednesday presented an estimated budget of 897 million euros ($1.63 billion) for the next fiscal year the biggest for a sports club in history.

The Spanish club is set to present the budget forecast during its next general assembly scheduled for October 21 reports Efe.

"The club has presented a budget forecast of 897 million euros in revenues and for the first time has closed a fiscal year having surpassed 700 million euros " Barcelona said on its website.

"It is a historic achievement for Barcelona and is in line with the club s Strategic Plan to reach one billion euros in revenues by 2021 " the club added.

Barcelona forecast a net surplus of 21 million euros ($24.87 million) which it said made it the seventh consecutive year turning a profit.

"In fact since 2010 the sum of the club s annual profits totals 175 million euros " the club added.

Marketing income contributed with the biggest share of the 897 million euros in revenue led by the sponsorship contracts with Rakuten Nike and the summer pre-season tour (300 million euros) players transfers ( a net 198 million euros thanks to Neymar s departure) and stadium and broadcasting rights.

Regarding the 2016-17 budget the treasurer of the board of directors Enric Tombas said that the club achieved record revenues of 708 million euros ($839 million).

--IANS
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