Squad news

THE FINANCIAL REPORTS OF DEPORTIVO

24 Dec 2011
Depor’s board of directors presented the financial reports of the Galician club; RCDLC.com analyzes the financial information at Deportivo for the season 2010/2011.

In recent years the best news at Deportivo La Coruña has been the reduction of the debt and that tendency has continued; the balance sheet at June 30 of 2010 presents a global debt of €99,698,571.33. It means that for the first time within the last decade the global debt is inferior to €100 million.

It also means that the club has reduced the debt for the third straight season and is now inferior in 44% to the one had on the season 2002/03, time when the debt reached its peak (€178,149,001.50). The goal of the club, despite the relegation to Segunda División, continues to be to erase the debt in a period of ten years.

Another good news is that the short-term debt is €35,666,019.20, which only means the 36% of the total; the remaining 64% is described as long-term debt expiring in one or more years. The main creditors of the club continue to be the banks (€28.11 million, 28% of the total) and the national treasury (€30.09 million, 30% of the total). However, the auditing made to the reports presents doubts with the money owed to the treasury, something that Lendoiro should clarify during the shareholders meeting.

The balance sheet also reports that the “clients” of the club owe €14.31 million to Deportivo, there’s no further explanation of who are these clients, but surely this amount is considering the unpaid debt of the players’ transfers –Canales, Lafita, Aouate- to clubs like Racing Santander, Real Zaragoza and RCD Mallorca.

An interesting point is the valorization made by the club regarding the players’ market value; the balance sheet reports that Depor’s first team is valued in €54,293,589.63, a reduction of 8% compared to the previous season. Also, the club is valuing the position at Primera División in €18.6 million, a calculation that will suffer a big cut on the next report as Depor suffered the relegation to Segunda.

The income statement of the season 2010/11 reports that the sales of the club were €32.22 million, a reduction of 5% compared to the previous season, also that Deportivo had a benefit of €9,780.26 within the period. As its common in a football club, the major part of the expenses are related to the players’ salaries; the report informs that the club paid €18.87 million in the wages of the players.

The true is that the budget for the season 2010/11 was for €52.85 million, but in the end the club only fulfilled the 61% of it, which was caused as the club didn’t make any big sell during the winter window of 2010 and neither during the summer of 2011.

ARCHIVE NEWS DEC/11

ZAPPING

Related news

THE SHAREHOLDERS MEETING 2011
THE BUDGET OF THE SEASON 2011/12


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