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Jun, 9, 2011

Barca announce €45m budget

Barcelona will be able to spend €45 million on new players this summer after the Catalan club's vice-president for economic affairs, Javier Faus, revealed the budget.

The European champions could also raise money from player sales, rumoured to include Bojan, Jeffren and Maxwell, as Faus explained the full extent of the financial situation at the Nou Camp.

"[Barcelona have] €45m for transfers, plus the money that can be obtained from sales [of players] in the close-season," he is quoted as saying by the club's official website. "When we speak about sales we will only consider those that are beneficial to the club."

He added: "The Spanish Supercup [to be played against Real Madrid in August] would bring in some €3m of extra income."

Faux also announced that a reduction in their pre-tax loss, to around €21m in the year to the end of June, and added that spending was trimmed from €495m to €441m.

"We are delighted with that outcome," Faus enthused. "It is the best possible investment because Barca has never been as recognised in brand terms as it is now."

Barcelona's gross debt stands at around €483m and the net debt is at €364, a fall from €532m and €431m respectively.

"There has been a very significant effort, which will continue over the next two years, to cut this debt," Faus added. "For this board of directors, this milestone is unavoidable and cannot be waived. FC Barcelona lost €83m last year and €21m this year and it cannot allow itself to continue losing money."

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