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Barcelona says it remains on track to reduce its debt without the use of financial levers
Barcelona says it is on track to reducing its debt without having to resort to new financial levers
BARCELONA, Spain (AP) — Barcelona is on track to reducing its debt without having to resort to new financial levers, the club said Wednesday while announcing a higher-than-expected net profit of 304 million euros ($320.5 million) for the 2022-23 season.
Barcelona said the club’s operating income was 1.26 billion euros ($1.33 billion), with expenses at 1.16 billion euros ($1.22 billion), which enabled the reduction of the net debt for a second consecutive season. The debt dropped from 680 million euros ($717 million) in June 2021 to 552 million euros ($582 million) in June this year, the club said.
“We have managed to seal the hole, but work must continue to reduce the debt to a sustainable amount,” said Eduard Romeu, vice president of the club’s economic department. “We are returning to ordinary current income. That means without extraordinary operations, without levers or sales.”
Barcelona recently resorted to a series of financial operations to help reduce its debt, including the advance sale of television rights for the Spanish league.