Barcelona post record revenues of EUR708million

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Barcelona recorded record revenues of EUR708million during the 2016-17 financial year, according to their latest set of results.

Club spokesman Josep Vives told a news conference that the return was EUR13m more than Barca's projected figure.

At the end of the 12-month period, Barcelona recorded a profit of EUR18m after tax, while debt has been reduced by EUR24.5m to EUR247m.

The figures outstrip Barcelona's revenues of EUR679m for the previous year, with a four-year renewal of the club's sponsorship with Qatar Airways boosting the coffers.

Japanese internet retailer Rakuten began a four-year shirt sponsorship deal with Barca this month that will be worth EUR55million per season to the LaLiga giants.

Rivals Real Madrid reported revenues of EUR620m last October, but those figures did not include money brought in from player sales as Barcelona's do.