Barca break billion-dollar revenue barrier

BARCELONA, Oct 2, (RTRS): FC Barcelona announced on Tuesday they have become the first sports club to post annual revenues exceeding $1 billion.

La Liga champions Barcelona presented their annual accounts on Tuesday, showing earnings of $1.05 billion for the 2017/18 fiscal year, breaking their own income record for the fifth successive year and posting a profit for the eighth consecutive year.

Barca said the rise in revenue was driven by increased income from television rights from the Champions League and the August 2017 sale of Brazilian forward Neymar to Paris StGermain for a record 222 million euros ($257 million) transfer fee.

The club also announced a record budget of $1.105 billion for this season, which needs to be approved at a general assembly on Oct 20.

The club added that their debt amounted to $181.3 million as of June 30.

“The extraordinary income from payment of Neymar Jr’s buyout clause has been compensated in next year’s budget through improved commercial and sponsorship revenue, media rights, exploitation of the stadium and transfer of players,” the club said in a statement.

“This is the first time that revenue has surpassed $1bn, a huge step up from 2016/17.” Spain’s La Liga remains committed to playing Barcelona’s league match with Girona in Miami, despite opposition to the plans, the organization’s Tebas told Reuters.

The Spanish football federation (RFEF) has put the brakes on the league’s plans by demanding more information on January’s game, which must also be approved by the United States soccer federation and regional bodies UEFA and CONCACAF.

“Playing in the United States is vital to our strategy there and we won’t relent on what is our right,” Tebas said in an exclusive interview at La Liga’s headquarters on Tuesday.

“If you want to make your industry more global, as La Liga wants to, if you want to be among the biggest industries in world sport then you have to be immersed in the US market.

president

Javier would rob the board of its independence and transfer resources from the grassroots to the more powerful professional clubs.

However, the reforms were passed 8-2, paving the way for an expanded Congress to vote in new board directors.

Lowy, who succeeded his billionaire father Frank as chairman three years ago, confirmed that he would not seek re-election at an annual general meeting next month and said he held grave fears for the game’s future in Australia.

“I hope for the best for the game clearly, I certainly fear for the worst,” he told reporters at a media conference in Sydney.

“Our game today has crossed a red line from a corporate governance model for football to one where stakeholders with vested interests will compete for power and resources as opposed to these being decided by independent members of a board.” The reforms, hammered out by a working group of FFA, FIFA and Asian Football Confederation delegates months ago, will expand the Congress from its current 10 members to 29, offering more representation to clubs, players and women. This file photo taken on Nov 15, 2017 shows Australia’s Mile Jedinak gesturing after his team defeated Honduras in their 2018 World Cup qualification playoff football match at Stadium Australia in Sydney. Skipper Mile Jedinak will not lead Australia in its defense of the Asian Cup next year after calling an end to his international

football career on Oct 1. (AFP)

“We are relieved that this issue has been resolved and a unified decision has been made,” players’ union boss John Didulica said in a statement.

A failure to pass the reforms could have paved the way for FIFA to take over administration of Australian soccer and suspend the nation from international tournaments, including the Asian Cup.

The Congress also passed a resolution to set up a process for a new governance model for domestic competition, including the A-League, which has been under FFA control since its rebirth out of the ashes of the defunct National Soccer League in 2005. MELBOURNE, Oct 2, (RTRS): Australian midfielder Mile Jedinak announced his retirement from international football, bringing the curtain down on a 79-cap career which included leading the Socceroos at two World Cups.

The Aston Villa player led his country at the 2014 World Cup in Brazil and this year’s tournament in Russia, having also captained the side to an Asian Cup triumph on home soil in 2015.

The 34-year-old announced his decision in a lengthy Instagram post, three months before Australia launch their continental title defense in the United Arab Emirates.

“I can confirm that after much deliberation I have made the decision to retire from playing international football,” Jedinak wrote.

“As a young boy growing up, it was my dream to play for Australia and to pull on the famous green and gold shirt to represent my country.

“To have been given the opportunity to not only fulfill that dream, but to have done it 79 times, and many of which as captain, makes me incredibly proud and thankful.”

Jedinak, who also played at the 2010 World Cup in South Africa, scored 20 goals for his country, a majority of them from the penalty spot, including both of Australia’s tallies in their group stage exit in Russia.

“It is an enormous privilege to represent your country and one I did not take lightly,” Jedinak said. “Words will never be able to do justice the feeling of immense pride I felt when representing Australia.

“I gave everything I had in every single game I played to try and achieve success for our nation.