Barcelona rank second on Forbes' list of soccer team valuations with a current value of $5 billion, behind rivals Real Madrid, who are valued at $5.1 billion.

The club said on Monday that their board of directors closed the financial year with a turnover of €1,017 billion and approved an operating income budget of €1,255 billion for this season.

Earlier this month, LaLiga raised Barcelona's spending limit by €800 million, bringing the club out of a spending deficit after the Catalan side sold off chunks of assets to patch up their finances.

To offset losses and comply with LaLiga's financial fair play rules, Barcelona sold 25% of their domestic television rights to US investment firm Sixth Street for the next 25 years in two deals worth over €500 million.

The club raised an additional €200 million from the sale of a total 49% stake in Barca Studios in two separate transactions, while also signing a long-term sponsorship deal with streaming giant Spotify in March.

That allowed Barcelona to spend more than €150 million in the close season on Robert Lewandowski, Raphinha and Jules Kounde, while Andreas Christensen, Franck Kessie, Hector Bellerin and Marcos Alonso all arrived on free transfers.

Barcelona are second in LaLiga on 16 points after six games, two points behind Real.