FC Barcelona generate record $818mn income

FC Barcelona generate record $818mn income
Spanish football giants Barcelona generated a record income of €708 million ($818 million) in the 2016/2017 season, the highest amount in the club’s history.

The football club reported the financial results for the previous season on their website on Monday.

The news means that Barca are the fourth most valuable sports team in the world, after the NFL’s Dallas Cowboys, Major League Baseball’s New York Yankees and English football giants Manchester United, according to Forbes.

According to the statement, players’ salaries amounted to 66 percent of the club's total expenditure. The net after tax profit reached €18 million ($20.8 million), while the club’s debt decreased to €247 million ($285.4 million), which was €24.5 million ($28.3 million) lower than the previous season.

As reported in the statement, the club plan to reach the €1 billion income mark by 2021.