Barcelona Board of Directors has approved the closure of the accounts for the 2016/17 season.

Results from the year show a record income in club history of €708 million.

According to information posted on the club website yesterday, the figure is €13 million higher than what was originally budgeted, while net after tax profit is €18 million.

“The Board have naturally viewed the final figures in a positive light, not just because the said growth is not only in line with the Club’s Strategic Plan to reach €1billion million by 2021, but also because of the operating result”, the club said.

“The €24.5 million reduction in the club’s debt means it is now at €247 million while the EBITDA ratio is at 1.99, well within the limit of 2.25 set by the statutes”.

Barcelona added that in last season, payment of salaries to players amounted to 66% of the club’s total expenditure.

Forbes recently placed FC Barcelona as the fourth most valuable sports club in the world at €3.64 billion.

SOURCE http://www.clegist.com/barcelona-reveals-income-20162017-season/