FC Porto recorded a negative net result of 2.434 million euros (ME) in the club’s accounts in 2023/24, close to losses of 2.430 ME in the previous year, the I League club reported this Wednesday.
According to the financial report published on the ‘dragons’ official website on the Internet, operating revenues rose 14%, from 15,616 ME to 17,792 ME, but were not enough to cover a 10% increase in expenses, from 18,536 ME to 20,449 ME, even though the results fell slightly from 2,920 ME to negative 2,658 ME.
Assets decreased to 57,487 ME in the period between July 1, 2023 and June 30, 2024, against 68,023 ME in 2022/23, just as liabilities went from 35,533 ME to 27,528 ME, mitigating positive equity, of 32,490 ME to 29,959 ME.
In a message published in the document, President André Villas-Boas recalled that these accounts “correspond to the end of a cycle, under the responsibility of the previous management” led by Pinto da Costa, who ceased his duties on May 7, after 42 years and 15 consecutive terms in office.
“As a result of a highly participated election, in which the choice of another direction for the club was very clear, FC Porto is now opening a renewed cycle in which sporting success, combined with its financial sustainability, is the priority. Control of the club by members is unquestionable, as is the maintenance of the eclecticism that characterizes it. Committed dedication and investment in rigorous management, focused on sporting success, but never losing sight of financial sustainability, will always be the focus. “, recognized the ‘blue and white’ top leader.
After the new management bodies of the club and the administrations associated with its business universe were sworn in, André Villas-Boas’ management immediately began an “in-depth survey of the reality of FC Porto”, something that will allow the ‘dragons’ to be prepared for the “changing its governance and management paradigm”.
“Based on a new governance, adapting to new management standards, following good practices and ensuring transparency in its actions, will allow both the club’s followers, especially its members, and other ‘stakeholders’ to come to terms with In the near future, a leading FC Porto, in addition to sporting success, also in its economic, social and financial results”, he assured.
In 2023/24, ‘blue and white’ football won the Portuguese Cup for the 20th time, and third in a row, but was in third place in the I League, with 72 points, 18 behind national champion Sporting, and did not pass the first phase of the League Cup, lost the Supercopa Cândido de Oliveira and was eliminated in the round of 16 of the Champions League.
In the main indoor sports, FC Porto won independently in women’s volleyball for the first time, after having celebrated three championships in partnership with the José Moreira Academy, and regained the title of national roller hockey champion.
The ‘dragons’ also won the Portuguese Cup and the Continental Cup on the courts, but lost their hegemony in handball, which had not finished a season without titles since 2017/2018, having only won the ‘queen’ competition in basketball.
The club’s accounts have already been approved by the board on Monday, but will still be subject to approval, discussion and voting by members at a General Assembly scheduled for November 23, at 10:30 am, at the Dragão Arena pavilion, in Porto.
Source: www.cmjornal.pt
