FootballSport

Barcelona Become The First Sports Club In The World To Surpass $1 Billion In Revenues

FC Barcelona on Tuesday confirmed that it has become the first sports club in the world to surpass the 1-billion-dollar mark in revenues.
 
The announced number includes revenue generated by all aspects of the sports club, not just the soccer team, although it is very much the dominant entity.
 
According to the annual account announced by Vice President and Treasurer of the Board of Directors, Enric Tombas, the rise in revenue was driven by increased income from television rights from the Champions League and the August 2017 sale of Brazilian forward, Neymar to Paris St Germain for a record 222 million euros ($257 million) transfer fee.
 
The club also announced a record budget of $1.105 billion for this season, which needs to be approved at a general assembly on Oct. 20.
 
The club added that its debt amounted to $181.3 million as of June 30.
 
“The extraordinary income from payment of Neymar Jr’s buyout clause has been compensated in next year’s budget through improved commercial and sponsorship revenue, media rights, exploitation of the stadium and transfer of players,” the club said.
 
“This is the first time that revenue has surpassed $1bn, a huge step up from 2016/17.”
 
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Source: OkayNG.com


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Amadi Promise
the authorAmadi Promise
Content Manager
Promise is an Android developer at Rad5 Tech Hub and also an Editor at Okay Nigeria (OkayNG.com). He love sharing what he knows and also learn from others.

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