In a resounding show of support, the members of the FC Barcelona Assembly have approved the financial settlement for the last season by an overwhelming majority, with 376 votes in favor, only 45 against, and 20 spoiled ballots. The assembly also greenlit the budget for the current 2023/24 season, receiving 372 votes for, 37 against, and 12 spoiled ballots. These decisions are a testament to the club's resilience and fiscal responsibility.
The financial figures presented by the economic vice president, Eduard Romeu, reveal a remarkable turnaround for the football giant. The after-tax profits for the 2022/23 season came in at an impressive 304 million euros, a substantial 30 million euros more than the budget had predicted a year ago. Romeu emphasized that the most significant achievement of the previous financial year was putting an end to the ongoing financial losses that had plagued the club.
One of the standout achievements was the reduction of the club's debt, which now stands at just under 1.2 billion euros, marking a significant improvement in the club's financial health. The elimination of negative equity has been a crucial factor for the peace of mind of the club's members, as well as enhancing its credibility and solvency in the eyes of investors who continue to put their faith in the club. Moreover, it has brought the club closer to adhering to financial fair play regulations, a crucial aspect of modern football.
The financial report for the 2022/23 season demonstrates the club's remarkable ability to manage its finances efficiently. With a total income of 1.259 billion euros and outgoings of 1.165 billion euros, the club was able to reduce its net debt for the second consecutive season. The debt was reduced from 680 million euros on June 30, 2021, to approximately 552 million euros on June 30, 2023. Notably, the commercial profits surged by 43%, reaching a total of 351 million euros, and the club's facilities generated 229 million euros, surpassing the budget's predictions by 14%. A significant boost came from the extraordinary sale of 15% of audiovisual rights for men's football, which injected a substantial 400 million euros into the club's accounts.
Looking ahead to the 2023/24 season, FC Barcelona remains optimistic about its financial prospects, even with the expected reduction in income due to the move to the Estadi OlÃmpic. The commercial department's extraordinary efforts are expected to increase income to 378 million euros, up from 351 million euros, while income from media is projected to rise from 215 million euros to 245 million euros, thanks to the expected success in the group stage of the Champions League. Additionally, a 27% reduction in the wage bill for the professional teams and a viability plan aimed at improving internal efficiency and reducing costs at the Estadi OlÃmpic will help maintain the club's financial stability.
Eduard Romeu, the economic vice president, highlighted the club's commitment to taking tough and painful decisions to stop the financial hemorrhage. He noted that the club had managed to achieve financial stability for the current season without relying on extraordinary operations, thus avoiding losses.
Romeu further underscored the club's efforts to cut back on salaries while preserving the quality of the squad, revealing that the budget for the wage bill is now the lowest in eight years. This move shows the club's determination to remain financially responsible without compromising its competitive edge.
In another significant development, the assembly ratified the agreement between FC Barcelona and TP Vision. The agreement allows the club to showcase the Ambilight TV brand on the left sleeve of the men's football first team jersey. This endorsement deal was approved with 326 votes in favor, 39 against, and 24 spoiled ballots.
TP Vision, a company specializing in the design, fabrication, and sale of Philips TV, Philips Sound, and AOC Audio products, has now become a crucial part of the club's sponsorship ecosystem as the Main Partner for TV, Display, and Sound Devices. The partnership was sealed in an event attended by FC Barcelona's president, Joan Laporta, vice president Juli Guiu, and Kostas Vouzas, CEO of TP Vision.
Juli Guiu, vice president for the Area of Marketing, emphasized the strategic significance of the agreement with Ambilight, which is a leading company in its sector. He also highlighted the club's phenomenal success in attracting sponsors, with 20 new sponsors coming on board in the commercial area. Guiu proudly declared that the current FC Barcelona shirt is the most valuable in the world of football, a testament to the club's enduring appeal and commercial prowess.
In conclusion, FC Barcelona's impressive financial recovery, combined with its strategic sponsorship deals, is a testament to the club's commitment to fiscal responsibility and continued excellence in the world of football. The future looks bright for this iconic football club, both on and off the pitch.
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