The members have unanimously accepted the liquidation of accounts for 2010/11. In the second item on the agenda of the Ordinary General Assembly, the economic vice president Javier Faus presented losses of 9.3 million euros, which was far less than the expected 24.1 million in the budget, due to increased income and fewer expenses.

Faus explained that the accounts have been audited by the Deloitte company “without exceptions or uncertainties.” He associated the losses to transfers, which are classed as operating costs. “Without this, the club will be sustainable from next year” he said.

Record income

The economic vice president also announced “the highest income in the history of the club” of 473 million euros. That implies an increase of 14%. He said this increase was due to “the Champions League win, ticket sales and marketing … Being the club with the highest income in the world is the result of the good work done by the respective Boards of Directors”.

The expenses totalled 472 million (14 less than the 09/10 season). He therefore considers that “the year has ended well balanced before payment of interest to banks (13.2)”. That is where the losses occurred.

Less debt

Faus also explained the investments (16.6 million) and a reduction of the debt by 15% (from 430 to 364), which he said was the result of “austerity measures”. He said that the club had achieved “a little more treasury” last year, which proved essential in this decrease. But despite the clear improvement in the Barça accounts, he still admitted that the finances “are in a delicate situation.”