Barcelona's revenues increased to 384.8 million euros in the year through June 2009, from 308.8 million the previous year, the European and Spanish champions said on Wednesday. Barca's latest results were clouded by their announcement that they must pay 25.3 million euros to the Spanish tax authorities due to irregularities in payments to players in the 1990s. Vice president for economic affairs Joan Boix said they might have to pay another 36 million, depending on a forthcoming court ruling. According to the accounts approved by members at the club's general assembly ahead of their match against Manchester City at the Nou Camp, the club's net profit was 8.8 million euros, down from 10.1 million in the year-earlier period. "Barcelona's economic model is solid and sustainable, independent of any sporting success," Boix told members. "It's a model that has shown itself to be perfectly viable in the face of the current severe economic crisis." Barca won an unprecedented treble of the Spanish league, European Champions League and domestic Cup last season, success that was based on a group of players who came up through the Catalan club's youth ranks. They were the third-richest European club in the year through June 2008, according to the annual Deloitte rankings, behind number one Real Madrid with income of 365.8 million euros and Manchester United in second with 324.8 million. Boix said Barca had maintained their net debt at a stable level, without naming a figure, and the club intended to reduce it. A club spokesman said total debt was 202 million euros at the end of June 2009, up from 190 million the previous year.
19 August 2009
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