Sergio Busquets, Gerard Pique and Jordi Alba have been at the club for so long that neither should have any book value. Thus its all salary. Just imagine Pique earning more than €40million a year with these performances.
Honestly, FDJ is the least of Barca's worries. They need to stop paying exorbitant wages to their academy guys.
A more realistic summation of Barcelona’s finances came when the club’s financial vice-president Eduard Romeu admitted last week that “without the income from the ‘levers’, last year we would have lost €106million, and this year (the loss would be) €210million”.
That was a reminder that the Catalans are still living beyond their means and continuing to pay off the mistakes of the past.
Most obviously, their squad still costs way more than it should. In 2021-22, the total spent on salaries and amortised transfer fees was €518million but the budget confirms that, in 2022-23, it is up by 27 per cent to €656million after the signings of Lewandowski, Raphinha and five more new players in the summer.
Short-term fixes from past seasons keep coming back to cause problems.
A big one is player salaries that were deferred in past seasons, and are now due. The focus last week was again on Frenkie de Jong, Marc-Andre ter Stegen and the three “captains” — Sergio Busquets, Gerard Pique and Jordi Alba — who each cost the club more than €40million a year. Of these, only Ter Stegen has started the season well, while the current level of veterans Busquets, 34, and Pique, 35, was to be cruelly highlighted last night by Inter.
The accounts published last week also show that Barelonca still owe transfer fees dating back years, including for players who are no longer at the club such as
Philippe Coutinho, Miralem Pjanic and Neto Moura. More than €100million of this total is due to be paid for these players in the next seven months.
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But still, nobody at last week’s AGM was seriously considering they could end up back in the Europa League after Christmas.
“Last season the impact of being eliminated in the Champions League groups was €12million,” Romeu said last week. “We were counting on income we didn’t get, but we also saved costs. This year, we are aiming to win La Liga and reach the Champions League quarter-finals.”
That projection will almost certainly not be reached now, and €12million is a very conservative estimate of the cost of another group-stage elimination.
Even if they do progress further in the Champions League, their broadcast revenue is still predicted to fall by six per cent this year to €236million because from this season, they have started to pay Sixth Street 25 per cent of their La Liga TV income — €41million per year.
It is proof that, whether or not activating the levers actually pays off, they will have to be paid back.
Beyond the numbers, making the Champions League knockout phase is also vital to the club’s image.
Momentum is crucial to growing their fanbase and increasing their revenues from commercial partners. It’s not hard to see why nobody at the AGM wanted to even think about Wednesday’s game going badly.
https://theathletic.com/3685330/2022/10/13/barcelona-transfers-levels-finances/