Barça VP Eduard Romeu: "We have managed to put the plug in the drain"

The economic vice-president of FC Barcelona, Eduard Romeu, presented Wednesday the financial results for last season, with a profit of €304 million, and the budget for the current year, with an expected revenue of €859m and a profit of €11m, two points that will have to be approved by the Assembly of Compromisarios on Saturday.

With regard to the economic liquidation of the 22/23 season, Romeu explained how the profits of €304m were reached, €30m more than budgeted, despite the fact that the expenses have increased by €100m, going from €1.065 billion to €1.165bn. He wanted to be transparent in this chapter.

"Having had a good year in terms of income, we wanted to clear our books so that from this season onwards we could balance the books," Romeu said. "Hence the gap of €100m," he added, detailing the management expenses (€255m) and other expenses (€171m).

In management expenses, which is the work that the club has to do to function, there are €57m from BLM, €24m from facilities maintenance, €19m from Seient Lliure, €17m from travel, €15m from LaLiga from television rights, €15m from advertising, €15m from professional services, €13m from Barça TV and €13m from sponsorship intermediation.

The €171m in other expenses are: €35m in non-sporting amortisations, €58m in player losses after the departure of players such as Alba, Piqué, Mirotic.... €37m in provisions and €8m in contributions to foundations. Here, the vice president wanted to be blunt about the much-talked-about commissions to representatives.

"Sometimes people talk because they have a mouth," he said. "Before, the commission was part of the player's sporting salary paid to his agent, now we pay a part and the player pays another part, following UEFA recommendations. We want it to be 50% from the club. Less is paid this way."

As far as revenue is concerned, Romeu wanted to make it clear that it would have been €855 million last season without palancas. The €1.259bn presented is reached thanks to the €400m from the sale of 49% of the TV rights to La Liga. In addition, the club is charged €208m for the valuation of 51% of Bridgeburg.

"We are satisfied with this operation, not with the sale of television rights, but we had no choice but to do it," said Romeu, highlighting the €28m more obtained from ticket sales and the €19m more from the commercial area. On the other hand, €25m less than expected was earned on average due to the early eliminations in Europe and €20m less in transfers due to the sale of Griezmann.

Budget

With regard to this season's budget, with an expected income of €859m, Romeu stressed that "without palancas and without special operations, we will not lose money." In terms of income, he highlighted the -€78m for the move to Montjuïc, the €28m more for reaching the quarter-finals of the Champions League, the €27m more from the commercial area and the €86m in transfers already made.

In the expenses chapter, the cut from one year to the next is €333m, highlighting the -€184m in salaries. In this sense, Romeu wanted to highlight that the sporting wage bill is down to €492m. "We have been able to put the plug in the drain and we have to continue like this," he said.

Libero

The economic vice-president stressed that the equity is already "almost positive" and that the debt of €1.35bn has fallen to €1.2bn.

"We are not satisfied and the obsession is to put an end to [the debt]," he said. "The manual is very easy, increase income and lower expenses. The way we have structured the Espai Barça operation will allow us to do this. We will have €150m-€170m left each season to do it."

Romeu also indicated that the board's intention is not to use any more palancas and that without levers or the Bridgeburg operation, the losses would have been €200m.

Speaking about Bridgeburg, Romeu explained how the operation with Libero is going: "There is no non-payment. What has happened is that we have mixed a sporting interest with a commercial one. They always wanted to pay in the last quarter of the year, it was in our interest to advance it to register players, we asked for it and they also asked for things, but what they were asking for was not good for the club.

"We didn't want to lose our negotiating power. With a guarantee we were able to register players and now we are back to negotiate. Libero wanted to go to the capital market and we thought it was not a good option at this moment. We can't go out with a value and have it deteriorate."

And three issues to finish. A sporting one: The possible registration of Vitor Roque and purchase of Joao Felix.

"In the winter, we don't contemplate any arrivals or departures, but we have always tried to please the technical team," Romeu responded. "Joao Félix, hopefully we will have to negotiate his contract because it will mean that he has succeeded."

Also a response to the group of socios who are asking for a face-to-face Assembly and who on Tuesday met with club executives: "It is not the first with this group, but it will be the last because we don't have to give them preferential treatment over the rest of the members. And it seems unfair to me that one exhibition is held in the hall and another is held with a microphone."

And finally, the Palau: "We are working on a project and it is still on course. A year and a half after the inauguration of the new Spotify Camp Nou, scheduled for mid-2026, it will be possible to play in the new Palau."