Lodi Valley News.com

Complete News World

Barcelona suffers from a deficit close to the size of Cruzeiro's worst deficit.  look and compare

Barcelona suffers from a deficit close to the size of Cruzeiro’s worst deficit. look and compare

The serious financial crisis that crossed Barcelona The drama gained features on Wednesday (06). At a press conference, Ferran Riverter, CEO of the club, presented the full financial audit reports that the company had carried out Deloitte, which shows that the Catalan giant is in “technical bankruptcy”.

With a debt of 1.35 billion euros (8.5 billion Brazilian reais), the new administration presented the figures for the last operation of Barcelona, ​​which recorded a deficit of 51 million euros (about 324.1 million Brazilian reais) only last season.

In contrast, the value approaches its worst moment Sea trip.

In an attempt to reverse the scenario of the devastating financial crisis, the Belo Horizonte team achieved a negative result of about 394.1 million Brazilian reais on the balance sheet for the fiscal year 2019, according to the company’s analysis. Moore Stephens News Consulting Independent Auditors, who referred to the situation as “significant uncertainty” regarding “ability to continue as a going concern”.

Barcelona’s board of directors, again headed by Joan Laporta, had intended to announce the numbers to the fans in March, but had to postpone planning until the beginning of October, according to Ferran Riverter, due to the difficulty of finding all the documents of the transferred movements. Out by the club in recent years.

“In March, we found ourselves with negative equity. If it was a company, it would be an accounting bankruptcy that would entail dissolution.”

See also  Tite uses the Copa America for the tests and promotes the internal differences in the national team - 13/06/2021

According to data provided by the CEO of Barcelona, ​​​​the club’s debt increased by 514 million euros (3.2 billion Brazilian reals) between June 2018 and March 2021.

The dramatic scenario still includes a 61% increase in costs with actors’ salaries (the main factor that prevented Lionel Messi’s contract renewal), which amounted to €835 million (R$5.3 billion in the current season), a 108% increase over recurring revenue, In addition, administrative expenses increased by 56% between 2016/2017 and 2019/20 and costs with financial institutions grew by 600%.

The club received several loans from banks. The problem was that there was a lack of planning for everything, even for paying appointments. We did it without knowing if we could pay. Riverter said that the cost of Coutinho’s transfer increased by about 16 million euros due to financial costs, “noting that Barcelona” was unable to generate a positive operating flow during the three accumulated years, and therefore, everything can only be paid with the increase. Debt with third parties.