Athletic Club Announces €21 Million Profit For The 2016-2017 Season
Money makes the world go around, and that is certainly true in today’s entity that is football. However, despite unbelievable transfer fees and wages, it is important to remember that money does play an understandably big role for every club. So many club’s across the globe are struggling with debt, especially in Spain, but that still isn’t the case for Athletic Club de Bilbao. On Monday afternoon, the Basque giants announced the financial report from the 2016-2017 season which turned out to be another successful year for President Josu Urrutia.
Athletic ended the fiscal year with €124 million in revenues, and only €97 million in expenses. That left the club with a surplus of €27 million, which after taxes amounts to a profit of €21 million. Keep in mind that the club projected a profit of only €13 million for last season, which shows just how successful they were on a financial level. On 4 October, the club will present it’s financial findings at an assembly held at The Palacio Euskalduna.
Since Josu Urrutia became President in 2011, Athletic Club have posted a profit every single year, which is no easy task. During the assembly in October, the Board of Directors will present the financial plan for the new fiscal year with a projected expenditure of €102 million and a projected income of €116 million. That means that after taxes Athletic should post a profit of €11 million this time next year. If things continue the way that they have been there is definitely reason to believe that that number will be higher. In addition, they will also update everyone on the upgrades currently going on at Lezama. Covered seating will be added at two fields in the upcoming weeks, followed by the construction of a new building that will be used by the first team.
Athletic Club has enjoyed immense success over the last few years. The Lions have qualified for European competition four straight seasons and won the Spanish Super Cup over Barcelona. As the team continues to find success, the club should continue to post record incomes. As always, Athletic is dedicated to putting that money right back into Lezama and focusing and strengthening from within. Constantly improving the youth system and facilities remains the club’s top priority and is viewed as the most important way to improve as a club in all aspects.