Barcelona says it will surpass 1 billion euros in revenue

ABS-CBN Sports on Sep 20, 2019 08:16 AM
Barcelona says it will surpass 1 billion euros in revenue
FILE - Barcelona forward Lionel Messi addresses the crowd prior of the Joan Gamper trophy soccer match between FC Barcelona and Arsenal at the Camp Nou stadium in Barcelona, Spain, Sunday, Aug. 4, 2019. (AP Photo/Joan Monfort)

BARCELONA, Spain (AP) — Barcelona says it will become the first sports team in the world to surpass 1 billion euros ($1.15 billion) in revenue this season.

The Spanish club made the announcement on Thursday while presenting revenue of 990 million euros ($1.09 billion) for last season, also a record an 8% increase from the previous year.

It says the 1-billion-euro mark will be achieved a year earlier than projected.

Barcelona says its profits after taxes will reach 11 million euros ($12.1 million) this season, the ninth consecutive year with a positive result.

The club's revenues are expected to increase by 6% this season thanks in part to "an unprecedented commercial effort in sponsorship."

It says "forecasts indicate an increase of 9% in income for player transfers and loan, which consolidates this resource as a recurring source of income at both the club and in the football industry itself."

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