Barcelona admits to a 'delicate' financial situation.
Undeniable success on the field, Barcelona does not repeat the same performance when it comes to finances.
Undeniably successful on the field, Barcelona's performance is not repeating itself when it comes to finances. The Catalan club acknowledged on Wednesday that it remains in a "delicate" economic situation and noted that its sponsorship agreement with the Qatar Foundation is crucial to avoid financial losses.
The team is already using the Qatar Foundation logo on its jersey this season, but the team's general assembly needs to ratify the five-year, €170 million agreement on September 24th.
"We have followed an austere approach, we are betting on growth and we have reduced debt, but we remain in a delicate situation," declared Barcelona's economic vice-president, Javier Faus. "The debt remains too high for us to dictate our future. We cannot owe so much money to the bank and we need to generate more."
The manager explained that the team would "suffer losses" if it weren't for the 30 million euros it will receive this season from the sponsorship contract. The club announced this month that after several years of losses, it expects to make a profit of almost 20 million euros next season. The current European and Spanish champion had a loss of 9,3 million euros last season and has a debt of 364 million euros.