FC Barcelona Closes '11-12 Season With Surplus Of Almost $60M
FC Barcelona closed out the '11-12 campaign with a historic surplus of €48.8M ($59.3M). Barça Economic VP Javier Fraus reported the team made €494.9M ($601.7M) and reduced its expenses to €441.1M ($536.3M). Compared to last season, the team ended the year with a surplus of €21.5M ($26.1M) and spent €31.5M ($38.3M) less. Faus noted that the results are largely due to cutting back on spending, and were achieved without having to sell club assets or first-team players. In terms of revenue, both marketing and revenue streams related to the Camp Nou stadium increased by 11%. Faus also commented on this past season's attendance and said, "Ticket sales have been spectacular." He also admitted that media revenue, tied specifically to TV rights, "have topped out and we don't expect an increase in the next five years." In terms of costs, the club reduced it's spending by 6% from the previous year (FC Barcelona). FORBES' Agustino Fontevecchia noted that major football teams like FC Barcelona, Real Madrid or ManU "must struggle financially with extraordinary high player salaries." Having stars like Messi, Iniesta, and Xavi in your squad "doesn't come cheap." In the '11-12 campaign, Barça managed to keep salaries essentially unchanged at €298M ($362M). FC Barcelona's financial results are all the more impressive given the "difficult economic environment" in Europe. A debt crisis has "sent the Eurozone into recession," but earnings in football are still going strong (FORBES, 7/20).