FCBARCELONA.CAT
Main menu
Content menu
Club
19.08.2009 19:27
The economic success of the treble winning season
Anna Segura
The balance sheet for the 2008-09 season was overwhelmingly approved by the Assembly of Members’ Representatives by 430 votes to 11 with 14 abstentions.
Over 94% of FC Barcelona Members’ Representatives voted in favour of the accounts for the 2008-09 season. Despite the worldwide economic crisis, the Club generated a net profit of 8.8 million euros.
“A solid and sustainable model”
Joan Boix, economic vice-president of FC Barcelona, told
delegates: “The economic model of FC Barcelona is solid and sustainable, independently of
sporting success. It’s a model that has shown itself to be perfectly valid under the impact
of the current serious economic crisis”.
An historic year
“We can celebrate an historic season for FC Barcelona
with some brilliant figures despite the economic crisis and having dealt with the variable costs
resulting from the treble”.
Growth in income
The accounts show an income of 384.8 million euros, with operating costs of 362.4 million euros, leaving an operating profit of 22.4 million euros. Mr Boix stressed: “For the sixth consecutive year, income has continued to grow and is now the highest in the Club’s history”. After deducting financial costs of 13.6 million euros, there is a net profit of 8.8 million euros.
Containing debt
Despite the growth in income, another factor highlighted by
Mr Boix is that, “We have kept the level of debt stable and we hope to carry on lowering
it”. Among the most significant costs, sporting salaries have increased 22,1% due to the
payment of variable bonuses to the squad for the treble: “13 million for the league, between
5 and 9 million for the Cup depending on each player’s contract and 16 million for the
Champions League”.
In addition, for the first time in six seasons, “The number of employees is lower than the previous season as a result of workforce mobility and an optimisation of human resources”.
Managing sporting salaries
Special mention is due of the relation between sporting
salaries and total Club income. According to auditors Deloitte, sporting salaries should range from
50 to 70% of total income. In the case of FC Barcelona, Mr Boix said, “We are situation near
55%”. This figure is particularly noteworthy as FC Barcelona includes the salaries of all the
sports sections, unlike most clubs.
To view this content you need the latest version of the Flash Player
Income tax
Mr Boix announced that the Club will have to pay the Spanish income tax authorities for
irregularities in the tax deductions made on footballers’ salaries by previous
administrations in the periods 1990-93 and 1996-99. He explained: “At that time there was a
policy of paying the players half of their salary via a company that managed their image
rights”.
After a number of judicial appeals, the Club paid out 25.3 million euros corresponding to the fiscal inspections for 1993-93. Mr Boix reminded delegates: “The 36 million that is claimed by the income tax authorities for 1996-99 is still pending a judicial decision”.
The economic vice-president said that the Board of Directors of that period had made provision for the debt but not the accumulated interest that now has to be assumed by the current Board.
After a number of judicial appeals, the Club paid out 25.3 million euros corresponding to the fiscal inspections for 1993-93. Mr Boix reminded delegates: “The 36 million that is claimed by the income tax authorities for 1996-99 is still pending a judicial decision”.
The economic vice-president said that the Board of Directors of that period had made provision for the debt but not the accumulated interest that now has to be assumed by the current Board.
