Barcelona posts record profit

Spanish Primera Division club Barcelona posted a record fiscal half year increase, according to Bloomberg, and will likely replace Spanish Real Madrid as football's biggest club in sales.

Madrid ended English Manchester United's eight-year reign as the richest club in 2005.

Due to an improved contract with kit supplier Nike, a sell-out tour of the U.S. and a 16 percent increase in sales of club merchandise, Barcelona revenue increased 22 percent to EUR 144.5 million in the six months to December 2006.

The tour was "particularly good,'" Ferran Soriano, Barcelona's vice president, told reporters.

"As the stadiums were full, we earned more than we expected.''

Sales at Barcelona, which was ranked the 13th-biggest revenue-making club by Deloitte & Touche LLP in 2003, are on course to top EUR 300 million in 2007, Soriano said. That is EUR 1.3 million more than Real Madrid planned to earn in accounts that were approved by club members.

Net income dropped 12 percent to EUR 9.1 million from EUR 10.3 million in the first half of the year as salaries rose from EUR 59 million a year ago to EUR 74.6 million.

Barcelona repaid EUR18 million of debt in that period, Soriano said.

The club still owes EUR 50 million on a EUR 180 million loan arranged in 2003 with banks that were led by La Caixa, Spain's largest savings bank.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.