Soccer-Barca report increased earnings despite lack of trophies

MADRID, July 4 (Reuters) - Barcelona reported earnings of 308.8 million euros ($484.8 million) for the 2007-08 season on Friday despite failing to win any major trophies for the second season in a row.

Figures published on the Catalan club's Web site (www.fcbarcelona.com) said income had grown 18.7 million euros on the previous year's figure to give a net profit of 10.1 million euros.

It said growth had been achieved because of the recovery of licensing rights for merchandising and a new television contract.

Barcelona vice-president Ferran Soriano said the club's economic model had proven to be "a robust one that has coped with both victories and defeats".

"Barca is a solid, solvent, secure and competitive entity," he said.

Soriano reported that bank debts had been reduced from 39.8 million euros to 13.6 million, while the club's total debt had been reduced from 218 million euros to 190 million.

"It is a level of debt that a business like this can consider as a healthy debt," he said.

Soriano said that although new coach Pep Guardiola had made it clear striker Samuel Eto'o and Brazilian forward Ronaldinho did not feature in his plans for next season, the club would not sell the players unless they were offered a good price. "We will only sell if the prices are right for the market. If we can't sell them for what we want then they won't be leaving."

He said Portugal midfielder Deco had not been under-priced when he was sold to Chelsea for 10 million euros.