Barcelona confirm huge financial losses
Tuesday, 27 July 2010 16:09Barcelona lost more than €77million last season, the club's vice-president for economic affairs Javier Faus has revealed.
The previous board, led by former Barca president Joan Laporta, had announced the club was €11million in the black at the end of their mandate in late June, but a new audit carried out by Deloitte for Sandro Rosell's team has revealed a far less healthy scenario for the Catalan outfit.
The new audit shows that Barca had an income of €408.9million for the 2009/2010 season, but costs amounting to €477.9m.
Further spending of around €8million means the overall deficit is calculated at €77.1million.
'The figures presented by the former board don't reflect the real image. They have cheated,' Faus said.
'There is a structural problem. The sporting excellence in the last few years has not been reflected in economic excellence. The new board's goal is to bring economic excellence alongside sporting excellence.'
Barca recently took out a loan of €155million after falling behind with the payment of player wages at the end of June.
Barca have already signed striker David Villa this summer for €40million and are willing to spend as much or even more to bring Arsenal midfielder Cesc Fabregas to the Nou Camp in time for next season, although progress on that deal has stalled.
