The economic vice-president of FC Barcelona, Eduard Romeu, summed up the situation that led in the exaggerated losses of the club in recent years and in a debt of more than 1,300 million according to the results derived from the ‘due diligence’ presented last October. Romeu recalled that “450 million negative own funds would be grounds for bankruptcy in any company” and detailed the reduction of expenses that has been achieved with the current management.
Romeu estimated at 159 million the “salary cut” and other savings have been: “27 million in financial cost and 25 million saved in ordinary day-to-day expenses, but the main thing is the wage bill, which should be between 55%-60% of the budget and came to be above income.
He noted, however, that “you have to grow in income. It’s not the ideal situation, but the Barça brand has potential”. He recalled that “we believe that a good management of BLM is better, with good management, than selling a part of it”, as the previous meeting had projected. Y regarding the sale of part of Barça Studios, approved by the Assembly, explained that “the best travel companion is being sought and we have not found it”. Regarding sponsorships, he pointed out that “it has been delayed, but we are convinced that we can comply and reach the figures that we proposed.”