Athletic Club Submit 2020/2021 Budget Which Is €28 Million Less Than Previous Year
Athletic’s annual General Assembly is set to take place next month. The club usually meets with members in October to present the budget for the new season which must be ratified by a vote. This year Socios are eager to hear the club’s numbers following the recent pandemic and another campaign without European football.
The club has already submitted a budget to La Liga which is required of all clubs, though it’s more of a rough draft. Changes can still be made until voting takes place at the General Assembly, likely on 12 October. In what was submitted to La Liga, Athletic laid out a budget of €104 million. This comes in €28 million less than the previous €132 million budget from last season.
Accounting for a 21 percent loss has much to do with the financial impact last season and forecasts ahead. Playing the final 11 games of last season behind closed doors significantly hurt teams and it will likely be some time yet before fans are allowed back in stadiums. La Liga recommended that clubs expect a 10% decrease in television revenue along with 45% losses from the box office and membership fees.
Athletic expect to lose €15 million in ticket sales and Socio fees this season. Television revenue figures to drop from €66.6 million to €60 million, with sponsorships lowering from €5.8 million to €5 million. Depending on how long stadiums are closed, Athletic may have to return more money to Socios. Clubs must take into account the total amount of losses to accurately prepare for the season ahead.
In addition, Juanma Velasco of Marca reports that the club has begun negotiations with the first team players and coaches to reduce salaries. At the end of last season the players and coaches agreed to a 6% wage reduction, but the percentage is expected to be higher this time. It’s unclear at this point if the possible reduction will be temporary or will last for the entire season.
Athletic won’t present a final budget until October’s General Assembly. In fact, reports from El Correo insist that the budget will be higher than the €104 million submitted to La Liga. With contract renewals needed and transfers still possible, the club still has much to consider.