Audit shows Barcelona financial woes
Audit shows Barcelona financial woes
The new numbers issued show that Barcelona's net debt stands at euro442 million, up from euro329 million a year ago.

Barcelona: Barcelona says that a change in its accounting policy has turned what had been reported as a euro11 million ($14.3 million) profit into a euro77 million loss for the Spanish champion last season.

Barcelona's financial vice president Javier Faus says the gap between the two figures emerged from an audit carried out by accountants Deloitte, who used a different accounting criteria to that applied by the old management team led by the club's former president Joan Laporta.

The audit was carried out after Sandro Rosell was elected to replace Laporta in June. The new numbers issued on Tuesday also show that Barcelona's net debt stands at euro442 million, up from euro329 million a year ago.

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