The General Assembly approved last season's accounts, which yielded a 48.8 million euro surplus, and this season's budget, which forecast 470 million euros in revenue
In favour: 724
In favour: 773
A large majority of Club delegates approved the Club’s accounts for the 2011/12 season, and the budget for 2012/13 season. After President Rosell gave his overview of the 2011/12 season, vice-president Javier Faus presented the Club’s year-end accounts “without uncertainties and free of exemptions.” The accounts, which were audited by Deloitte, show record profits of 48.8 millions euros.
Last year’s record profit was calculated by deducting the Club’s 494.9 million euros in revenue (21.5 more than last season) from the Club’s expenditures of 441.1 million euros (31.5 million less than last year). Despite these positive fiscal numbers, Faus was prudent: “we’re taking this with caution, we’re not euphoric. We want to wait two to three years to see if we can stabilise the trend.” At the same time, the vice-president said that he’s satisfied that the Club’s debt was reduced from 364 million euros to 334 last season.
The vice-president noted that the positive differences in revenue from the 2010/11 season to the 2011/12 season is largely due to increased FCB Museum ticket sales, new sponsorships and the reduction of overhead costs for management and professional teams. Faus also highlighted the importance of winning four titles and reaching the semi-finals of the Champions League.
470 million euro budget
After Faus’ financial report, Antoni Rossich presented the budget for the 2012/13 season. Rossich said that the 470 budget is “rigorous, prudent and very realistic.” According to Rossich, “it’s not the time to spend more than you can. In fact, because of the way we are, we will never reach that point.”
This year’s budget, 5% less than last year’s 494 million euro budget, factors in a hypothetical Liga title, reaching the quarter-finals of the Champions League and reaching the final of the Copa del Rey. Rossich indicated that this year’s budget also factors up-to-date data (through August 31, 2012), including incoming and outgoing players.
The lack of transfers with significant economic losses and the reduction of overhead costs will lower operation costs by 13.6 million euros (427.3 million in expenditures). He noted that the projected revenue for this year is set at 28.9 million euros (EBITDA -earnings before interest, taxes, depreciation and amortization- at 113.4 million euros).