European champions Barca post profit of 8.8 mln euros

Barcelona: European champions Barcelona posted Monday a net profit of 8.8 million euros (12.5 million dollars) for the 2008-09 season.For the 2009-10 season the Spanish giants have tabled a record budget of 405 million euros which forecasts a profit of 30 million euros, the club said on their web site.

Barcelona stunned holders Manchester United to win their third Champions League crown with a 2-0 victory in May in Rome. The club also won the domestic league and cup last season, making it the first Spanish team to win the treble. The club`s success on the pitch helped lift operating revenues to 384.8 million euros in the 2008-09 season from 333.8 million euros during the previous season, mostly on the back of higher ticket sales and new marketing and media contracts. But expenses also rose during the period from 162.6 million euros in the 2007-08 season to 198.6 million euros, in large part due to salaries. The club`s debt stood at 202 million euros as of June 30 against 190 million euros at the same time last year. Founded in 1899, Barcelona is one of Europe`s most titled clubs. It has won 19 domestic league title and 25 Spanish cups in addition to the three Champions League crowns. Bureau Report