Sandro Rosell announced that the Club has closed out the fiscal year with a historic surplus. The funds will be allocated to paying down the Club's debt
The Club's outstanding debt stands at 340 million euros
FC Barcelona have closed out the 2011/12 season with a positive balance of 40 million euros. “It’s extraordinary news,” President Sandro Rosell said in his overview of the season during this afternoon’s press conference. This year’s surplus of 40 million euros surpassed the projected net profits of 21 million euros set at the beginning of the season.
Of the 40 million, only 12 million comes from the bonuses not given to players and managers for not winning the Liga and the Champions League, according to the president.
Rosell stated that this year’s surplus will be allocated to paying down the Club’s debt. The president said that when the current Board of Directors started to manage the Club, the outstanding debt stood at 420 million euros. Two years later, the debt has been reduced to 320 million euros.
A rational and sustainable model
The president also stated that the decision to reduce the debt “will not affect the day-to-day business of the Club,” seeing that debt reduction actions have to do with investing in equity and that the acquisition of players “has been included in the Club’s working budget.” The “rational approach and the sustainability of the model,” according to Rosell, are the main reasons the Club closed out the year in the black after two consecutive years of losses.
Lastly, the president confirmed that in the next General Assembly, vice president Javier Faus will present FC Barcelona’s strategic economic plan to Club members.