FC Barcelona Finishes Season With $50M Surplus
FC Barcelona closed out the '11-12 season with a surplus of €40M ($50M), an increase from the start of the campaign when the club projected a net profit of €21M ($26.2M). Team President Sandro Rosell said, "It's extraordinary news." Rosell explained that this year’s surplus will be allocated to paying down the club’s debt. He also noted that when the current BOD took over the management of the club, the outstanding debt stood at €420M ($524.3M). Two years later, the debt has been reduced to €320M ($399.5M). Rosell said the decision to reduce the debt “will not affect the day-to-day business of the club,” because debt reduction actions have to do with investing in equity and that the acquisition of players “has been included in the club’s working budget.” Rosell added, the “rational approach and the sustainability of the [business] model,” are the main reasons the club closed out the year in the black after two consecutive years of losses (FC Barcelona).