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SBD Global/October 4, 2013/Franchises

Barcelona Explains New Statutes Expected To Be Implemented On Saturday

FC Barcelona's new statutes, which will be voted on during a meeting Saturday, "will influence club leaders' responsibility to establish debt limits and close annual accounts without deficits, with failure to do so resulting in dismissal from the board," according to the EFE. This was "explained by Barcelona spokesperson Toni Freixa during a media meeting where the club explained the changes that will be brought about by new statutes." Among the changes, "the way the statutes will regulate team accounts was highlighted, including the establishment of a maximum debt ceiling." The statutes, however, will allow "a period of two years for accounts to settle the current deficit." Under the statutes, "if the team ends a year" with a €10M ($13.6M) deficit, it will have to "correct this in the next two years with a surplus" that equals or exceeds €10M. For economic control, "Barcelona's governing body will have to receive the approval of two thirds of club members for any expense that exceeds 10% of the budget, whether it is a sale or purchase of sponsorship." Decisions regarding shirt advertising "will require support from a majority of the team's voting members." Barcelona "also opened the possibility of electronic voting in the future, but this will require absolute guarantees for this process, and because of this, this method of voting is not planned for the short term" (EFE, 10/3).
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