Mundo Deportivo recently reported that FC Barcelona executives are confident in the club's ability to make a profit and do not share the widely discussed financial problems. However, an audit report on Barcelona's financial position for the 2023-24 season, issued by Grant Thornton Accountants on September 30, 2024, reveals substantial financial challenges facing the club.
The audit report states that Barça was required to accrue provisions amounting to 141 million euros due to the failure of partners such as Libero Football Finance AG to make payments on time, a figure that directly contributes to the club's total losses of 91 million euros. In addition, the report also assessed the value of Barça Vision, the 51% owned by FC Barcelona, at €208 million, but with an unquantifiable material reservation.
Despite claims in the media that the auditor has asked Barca to charge more money for impairment, Barca have taken a different view. They insist that Grant Thornton's qualification only stems from the failure of the parties to agree on a reduction in Barca's visual value, rather than a demand for further financial impairment. The auditor's qualification was largely based on the recommendation to initiate a new business plan to replace the previous one which had failed to achieve the desired objectives.
At the Extraordinary General Meeting on September 30, Barça explained why it insists on maintaining the value of 51% of Barça Vision at €208 million. The club stated that there are sufficient reasons to justify the current value of the company and continue to believe in its future viability and growth potential. At the same time, Barça revealed a business plan aimed at further increasing the value and profitability of Barça Vision. However, in the face of the financial challenges revealed by the audit report, Barcelona executives will need to be more prudent in considering how to balance the club's long-term growth with its short-term financial stability.
