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Barcelona

. payroll for players is the highest in the world

. Cash flow suggests club can not afford Fabregas

Arsene Wenger could not hide his contempt for what he saw as underhand tactics of Barcelona trying to get out the price of Cesc Fabregas of Arsenal. This is not surprising. For a look at the finances of Barcelona suggests Blaugrana can not afford Spain international. A report last month by the University of Barcelona football finance expert, José María Gay Liébana, entitled Spanish football in the middle of the crisis, the record establishes naked besieged Barcelona.

a turnover of ? 398.1m 2009-10 (£ 350.9m) is certainly healthy, driven by a face value of ? 157.6m on TV. (By striking deals with individual, including Barcelona and Real Madrid take 49% of total turnover broadcast Premier League). Indeed, the net debt of ? 59.1m is nothing to worry about, since the current carrying amount of playing style, made ? 213.2m, is clearly underestimated. This simply reflects the success of La Masia academy, and players who are not signed by the fees are not included in the balance sheet.

But operating costs are enormous in Barcelona. A wage bill of ? 234.8m player is the highest in the world and is the ratio of wages to the rotation in a race of 76.8%. "Other operating expenses" stimulate spending of ? 380.1m. This means that free cash flow in 2009-10 was £ 15.9 million, with a debt of ? 548.6m in a heavy burden of interest coverage was negative, according to Gay Liébana. For a property fan club, it's not a pretty picture.

"[This] Barcelona, ??Champions and the Champions League semi-finalists in 2009-10 and 2010-11 winners are technically bankrupt is alarming for the industry overall football" Gay Liébana said.

Friday is a great day for Peter Ridsdale. We should try to convince the Football League and the Professional Footballers' Association that its offer of £ 1 Plymouth Argyle (their real estate assets should go to the developer Kevin Heaney for many more) is in the best interest of all. This can be tricky. As noted here before, the league can block an acquisition if there are complaints of the creditors of football. And PFA can be an obstacle. Its chief executive, Gordon Taylor, has not responded to the call to Digger, but a source told the wardrobe of the request will go to the players to defer their salaries last month. The witness said he received a payment of only 40%, after threatening to boycott the friendly pre-season against Bristol City.

should Argyle players around £ 500,000, which will not be refunded in full for a long time, and play equipment also feel solidarity with the staff were informed that they have never received all mightmay make money. Even worse are the perceptions that Ridsdale won £ 25,000 of consultancy for the administrator, Brendan Guilfoyle, during the month. Guilfoyle Ridsdale said that rates are "confidential", but added they were "very far from it." However, Ridsdale has to show its charm and charisma indisputable, if it is to achieve your goals today.
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