Barcelona's revenue continues to rise and for the sixth year running, the Catalan club has announced yet another record revenue. The club closed its accounts for the 2018-19 season with a catalogued income of €990 million ($1.1 billion).
The figure is 7.8 percent more than the €914 millon ($1.019 billion) revenue accumulated last year which made the Catalans the first sports team to ever pass the billion-dollar milestone. For the second year running, the benchmark has been usurped, and the boost in cash flow can be majorly attributed to an improved television deal in La Liga as well club's run in the 2018/2019 UEFA Champions League.
Also, growth in the marketing and advertising departments played significant roles in Barcelona bypassing the billion-dollar threshold with the multimillion deals with Rakuten and Turkish electronics company Beko still in place.
"The club has achieved its highest revenue ever and it's important to highlight that the income is €30m more than the budgeted figure of €960m," Barcelona said in a statement.
"It is in line with the club's strategic plan to generate an annual turnover of €1,000m by 2021."
With income attaining new heights at the club, detailed figures show that Barca has spent a significant part of its earnings on transfers. Expenses on player purchases has now hit €973 million ($1.085 billion) whereas the club also had a pre-tax operating profit of €17m ($19m)- €3 million lesser than what was accounted for last season.
A total of €195 million has been spent on the signing of Frenkie de Jong and Antoine Griezmann this summer alone. As a result, Los Blaugrana now aims to partways with some of its players in order to balance the rising wage bill and player amortisation costs which accounts for more than half of the club's revenue.
