Force India Unveils New Car UEFA Unwilling To Discuss RB Hungary Withdraws 2024 Games Bid China Plans 50,000 Academies By 2025 AFL May Seek New AFLW TV Deal AFC, Allianz Announce Partnership Six Nations CEO Denies Georgia Admission Executive Transactions Aberdeen Stadium Bid Hits Setback RFU Execs Out-Earning FA Counterparts
SBD Global/July 24, 2013/FinancePrint All
Barcelona Economic VP Javier Faus on Tuesday announced that the club obtained net profits last season of €32M ($42M) after taxes, according to the EFE. During the '12-13 season, Barcelona's revenue reached €491M ($647M), which was €21M ($28M) more than expected. Before taxes, which totaled €44M ($58M), it was Barcelona's second-highest single-season revenue in club history behind the '11-12 season. Barcelona spent €443M ($584M), including €245M ($323M) on player salaries and €96M ($127M) "went to management costs." Higher spending was "caused by increases in re-signings and by lower revenue in the team's Nike store, its 'new business' and its 'on line' business." The "most important thing for Faus is reducing the massive player salaries." Faus said, "Because of the many sacrifices we make, the club cannot be put in order if it does not maintain control of the collective salary, which in the case of the first team was €212M ($279M) last year. Keeping that closer to €200M-€215M ($264M-$283M) is our objective for the next few years" (EL PERIODICO, 7/23).
Bundesliga club VfB Stuttgart "announced the biggest loss in team history" at a press conference on Monday, according to Julia Klassen of the STUTTGARTER ZEITUNG. Club CFO Ulrich Ruf said, "This is the biggest loss we ever had." The club's revenue decreased by around €7.74M ($10.2M) to €109.2M ($144M) for the year ending on Dec. 31. Opposite from the revenue stood expenditures of €119M ($156.8M). Despite the loss, the club "is in an appealing financial situation." Ruf: "The VfB is very liquid, it is in a very comfortable situation. I haven't had that often in my career. We are always capable to act." The club's capital is €11.8M ($15.6M). The big loss "was expected." The main reason for the loss "is bad transfer politics after winning the Bundesliga title" in '07. Former Board Exec Dieter Hundt said, "There have been several transfers that linger financially until today." Ruf "refrained from giving a projection for the current financial year" (STUTTGARTER NACHRICHTEN, 7/23). The DPA reported the team's loss is around €9.7M ($12.8M). During the previous year, Stuttgart generated a profit of €70,837 (DPA, 7/23).