Barcelona have become the first sports team to reach $1bn in revenues, after the club presented its annual accounts for the 2017/18 season this week. Barcelona Vice President and Treasurer of the Board of Directors, Enric Tombas, revealed that the club’s official revenues for the year ending June 30 were $1.05bn, which represents the fifth straight year that the club has broken its own record income.

Club CEO, Oscar Grau, also presented the budget for 2018/19 which foresees a revenue of $1.105bn. This estimated figure further cements Barca’s position as the highest earning sports club in the world. The club’s Strategic Plan is to reach a revenue of €1bn by 2021 – a figure that the club are in line to reach.

The sale of Neymar to PSG accounted for €222m, the club said: “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.”

Last week Manchester United reported record revenues of £590m for the 2017/18 season. Read more about the Red Devils record here.