Barcelona board approves EURO 1.255 billion budget for 2022-23 season; here's what to expect

After suffering from financial difficulties for the past few seasons, Barcelona is making steady progress. Meanwhile, its board has approved a vast €1.255 billion budget for the ongoing 2022-23 season. Here's what to expect.

Image Credit: Getty Images

Spanish giants Barcelona has endured severe financial difficulties for the past few seasons, which has been highlighted ever since. While COVID made things worse for the club, it lost out on its legendary Argentine superstar Lionel Messi. He could not fit into the revised financial model of the club despite taking a pay cut, as he was transferred for the first time in his senior club career, with French champion Paris Saint-Germain (PSG) signing him. However, things have been improving for Blaugrana, as it has still spent considerably well in the transfer market. In contrast, the board has approved a massive €1.255 billion budget for the ongoing 2022-23 season, reports Fotmob.

A lot has to be credited to Barca president Joan Laporta, who has steadied the ship. In the ongoing season, it has made top signings, like Robert Lewandowski, Jules Kounde and Raphinha, besides counting Andreas Christensen, Franck Kessie, Hector Bellerin and Marcos Alonso. Also, Ousmane Dembele signed a new contract with the Blaugrana.

During this time, Barca also sold 25% of its television revenue to Sixth Street in a couple of individual deals for the next 25 years. The club has also roped in Spotify as its new sponsor for the home ground, Camp Nou, and its jerseys. Besides approving the new budget, Blaugrana also confirmed that the approved budget of €1.017 billion last season has resulted in a €98 million profit.

This season's estimated profit forecast will likely be around €274 million. On October 9, Barcelona's delegate members' general assembly would be held virtually. In another announcement, Barcelona would also redevelop the Gol Sur section of Camp Nou. At the same time, the tender process for the same has been finalised, as Catalan construction companies, Enginyeria i Arquitectura Torrella and Ingenieros JG have signed the contract. However, the construction work's tender process is yet to be finalised.