Soccer-Barcelona's LaLiga spending cap raised by 800 million euros

FILE PHOTO: A projection of the FC Barcelona logo is seen on the Sydney Harbour Bridge as the squad visits Australia for a friendly soccer match against the A-League All-Stars, in Sydney, Australia, May 24, 2022. REUTERS/Loren Elliott

(Reuters) - LaLiga has raised Barcelona's spending limit by 800 million euros ($803 million), bringing it out of a spending deficit after the Catalan side sold off chunks of assets to patch up its finances, the Spanish league said.

Barcelona were given a cap of 96 million euros last year, which was slashed by January to minus 144 million euros - meaning the team had to find savings elsewhere to sign new players - after they ran up debts and future liabilities of 1.35 billion euros, with 673 million owed to banks.