Vice president Javier Faus has presented the financial results for the 2010/11 season, which include a record income of 473 million euros and losses of 9.3 (14.8 less than expected). They were accepted unanimously.
Voting on closure of accounts 10/11
For: 807
Against: 14
Abstentions: 24
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.”