In a pivotal members’ assembly, FC Barcelona’s financial standings for the 2022/23 season were settled, and the budget for the 2023/24 campaign was ratified with enthusiastic support. The meeting, which saw 376 votes in favor, 45 against, and 20 spoiled ballots for the 2022/23 season settlement, and 372 votes in favor, 37 against, and 12 spoiled ballots for the 2023/24 budget, brought together the club’s decision-makers to chart a course for the future.
Highlights of the Meeting
Eduard Romeu, the economic vice president of the club, presented the financial figures from the 2022/23 season. These figures, previously disclosed to the public, revealed a remarkable after-tax profit of €304 million. This exceeded the initial budget projection by €30 million. Romeu emphasized that the most significant achievement of the 2022/23 financial year was stemming the tide of financial losses.
Taming the Financial Landscape
Romeu underscored the importance of reducing the club’s debt, bringing it below €1.2 billion, and reversing the negative equity. According to him, this was vital for several reasons. It instilled peace of mind among members, enhanced the club’s credibility and solvency in the eyes of investors, and ensured adherence to financial fair play rules.
Key Financial Statistics
The financial statistics for the 2022/23 season were impressive, with the club raking in €1.259 billion in income, offset by €1.165 billion in expenditures. This successful financial management led to a reduction in net debt for the second consecutive season, lowering it from €680 million on June 30, 2021, to approximately €552 million on June 30, 2023. The commercial sector witnessed a substantial 43% increase in profits, generating a total of €351 million. The club’s facilities also contributed to the financial health, generating approximately €229 million, exceeding budget projections by 14%. A noteworthy injection into the club’s coffers came from the extraordinary sale of 15% of audiovisual rights for men’s football, amounting to €400 million.
Looking Ahead to 2023/24
The 2023/24 budget outlook remains positive, despite a decrease in income due to the move to the Estadi Olímpic. An uptick in commercial income, an increase in media revenue driven by expectations of progress in the Champions League group stage, and a 27% reduction in professional team wage costs underpin this positivity. A viability plan aimed at enhancing internal efficiency and reducing costs at the Estadi Olímpic, along with the elimination of extraordinary costs from the 2022/23 season, will also contribute to a successful 2023/24 season.
Romeu conveyed that the primary goal was to curb losses, and this has been achieved. He acknowledged the tough decisions taken during the process and the sacrifice made to reach this point.
Agreement with TP Vision
In the meeting, the assembly also ratified an agreement with TP Vision. This agreement entails FC Barcelona sporting the Ambilight TV brand on the left sleeve of the men’s football first-team jersey. Juli Guiu, vice president for the Area of Marketing, presented the agreement and highlighted its strategic significance. The agreement with TP Vision reflects a mutually beneficial partnership that enhances the club’s technological capabilities.
The meeting emphasized FC Barcelona’s attractiveness to sponsors, positioning its current shirt as the most valuable in the world of football.
