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Extent Of Barcelona's Debt Revealed By Fresh Audit

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http://news.bbc.co.uk/sport1/hi/football/europe/8859257.stm

A new audit into Barcelona's finances have revealed the club's debt is 442m euros (£369.5m) after a loss of more than 77m euros (£64.36m) last season.

The previous board, led by Joan Laporta, had announced the club was 11m euros in the black at the end of June.

But a new audit carried out by Deloitte for new president Sandro Rosell's team reveals a far less healthy scenario.

The news comes as Barca spokesman Toni Freixa said Arsenal are still refusing to negotiate the sale of Cesc Fabregas.

Fabregas has been the subject of a transfer saga which has run all summer, with departed Barca president Laporta and Rosell both left frustrated by Arsenal's tough stance.

Since having a 35m euro (£29m) bid turned down earlier this summer, Barca have made several attempts to speak to Arsenal, but Freixa says the Londoners are unwilling to budge.

.......

The audit shows that Barca's costs in the 2009-10 season rose to £400m, with their income at £341.7m.

Barca also had to recently take out a loan of around £125m after falling behind with the payment of player wages at the end of June, while central defender Dymtro Chygrynskiy was hastily sold to Shakhtar Donetsk to raise much-needed funds for the club.

Nevertheless, Barca have already signed striker Villa this summer for £33.4m and are willing to spend as much or even more to bring Arsenal midfielder Fabregas to the Nou Camp, Rossell said earlier this month.

Excellent business management, spending nearly £64m more than they earn. I suppose it's easily done and it's only about 19% of total revenue they are spending in excess off.

Luckily the entire Spanish economy hasn't been run in the same way.

It would appear that Enron accounting has spread globally.

How long before the damn bursts and the crap is purged from the system?

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Excellent business management, spending nearly £64m more than they earn. I suppose it's easily done and it's only about 19% of total revenue they are spending in excess off.

Luckily the entire Spanish economy hasn't been run in the same way.

It would appear that Enron accounting has spread globally.

How long before the damn bursts and the crap is purged from the system?

Making a profit by having lower expenses then revenues? That's like sooo 20th century. No one does that any more. Get with the system.

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Making a profit by having lower expenses then revenues? That's like sooo 20th century. No one does that any more. Get with the system.

We seemed to have moved from a profit based economy to a perpetual debt one.

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Nothing. What were Man U's debts at the last count?

The difference was they didn't get to spend them on some fantastic players but the fans were saddled with bailing out some loans on some far flung American shopping malls.

Your forgetting the management fees for servicing the said loans the club/fans have been saddled with.

If they do the same again this year they'll owe over £400m how long can they seriously keep that up for?

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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