Barcelona have confirmed that they have reduced their massive debt as the club announced a net profit of over €300 million for 2022-23.

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Catalan side announced profitsHave reduced huge debtPosted record commercial revenueWHAT HAPPENED?

The Catalan side announced the financial figures for last season, confirming their after-tax profit of €304m (£263m/$321m). The total is higher than was predicted in last year's budget and sees their debt fall for the second year in a row, now standing at €552m (£478m/$583m).

AdvertisementGettyTHE BIGGER PICTURE

Barcelona's commercial revenue increased by an incredible 43 percent from last year, reaching €351m (£304m/$371m), thanks in part to a record number of new sponsorship deals and record sales from Barca Stores.

The Catalan side may owe a significant portion of their positive financial figures to the economic levers they have pulled in recent years, which saw the Camp Nou side use many of its assets to bring in increased revenue.

One of those levers was selling a 49.9% stake in Barca Licensing & Merchandising (BLM) and over the last year the enterprise "recorded a 54% increase in sales in physical stores compared to the previous year", the club confirmed.

WHAT THEY SAID

"These results have been achieved in a season that will go down in history for the record operational figures in the commercial and venue operation sections," a statement from the club read. "The club has made improvements in all lines of business, recording figures higher than expected in each of them."

GettyWHAT HAPPENS NEXT?

Barca will hope to underline the positive results by getting another good one on the field when they host Sevilla in La Liga on Friday.