- Associated Press - Tuesday, July 29, 2014

BARCELONA, Spain (AP) - Barcelona has reported a record income of 530 million euros ($711 million) over the past year and made a profit of 41 million euros ($55 million), the club announced on Tuesday.

Javier Faus, Barcelona’s vice president in charge of finance, presented the annual report for 2013-2014, saying that the club’s net debt had been reduced by 44 million euros to stand at 287 million euros as of June 30.

Faus said that since he took up his post in 2010 the club’s debt had been reduced by 143 million euros and that Barcelona had risen from 24th to second position in the Forbes ranking of the world’s most valuable sports teams. Real Madrid heads the Forbes ranking for 2014 with Manchester United in third place, baseball’s New York Yankees in fourth and the Dallas Cowboys of the NFL in fifth.

Faus said that advertising and sponsorship revenue was the biggest contributor to the club’s income, at 169 million euros, with the media - including television rights - second at 161 million euros.

Ticket sales at the Camp Nou added 128 million euros, while transfer fees brought in 53 million euros and club memberships earned a further 19 million.

The largest cost was salaries, at 286 million euros - 254 million of which went to the players.

Faus said he was particularly pleased with the club’s performance in terms of its earnings before interest, taxes, depreciation and amortization (EBITDA) - at 134 million euros.