July 23, 2024 | 10:39

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Bilbao Basket approves a budget of 4 million for 2023/24

Bilbao Basket approves a budget of 4 million for 2023/24

Jeickson Sulbaran

December 31, 2023 | 7:20 pm

El Bilbao Basketball, in a recent Ordinary General Meeting, has marked a milestone in its financial career by approve a budget of almost 4 million euros for the 2023/24 season. This approval, which has had the unanimous support of its shareholders, reflects not only the financial strength of the club, but also a clear strategic vision towards the future. With a 3.918.514 euro budget, the club expects to generate a positive cash flow of 400.000 euros, an indicator of good financial health and efficient management of the team.

El fiscal year 22/23 closed with a positive balance of 164.969,68 euros, a figure that has been valued very positively by the counselor Pablo Allende. “The good work is being noticed. We are at the top of the mountain, now we can start going down it,” said Allende, evidencing an optimism that permeates the entire club. This financial improvement is a reflection of the effective management and strategic planning carried out by the Bilbao Basket board.

Efficient financial management and long-term strategy

La President Isabel Iturbe, in his opening speech, placed us in the context of last season, defining it as “The season of tranquility.” It is important to highlight that the club's financial debt is 2.658.736 euros in gross terms, and 465.865 euros if we consider the net debt, deducting the treasury and the participation in the ACB. This level of debt, although significant, is being managed prudently and strategically, with well-structured repayment plans for the coming seasons.

The club, looking towards the future, plans to undertake the return of around 800.000 euros annually in the next two seasons, with the aim of reducing this figure to 500.000 euros for the seasons 25/26 and 26/27. This financial planning is a clear example of the club's responsibility and commitment to sustainable and long-term management.

Results of the Ordinary General Meeting and the way forward

In the Ordinary General Meeting Various crucial points for the future of the club were discussed. The dismissal and appointment of members of the Board of Directors was approved with 99,96%, reflecting a high degree of consensus and confidence in the current management. The annual accounts for the year ended June 30, 2023 They were approved with 99,94%, and the proposal to apply the result corresponding to this exercise obtained 100% approval.

In addition, the social management corresponding to the year ended June 100, 30 was approved with 2023%, demonstrating clear confidence in the direction and management of the club. The annual budget for the 2023/2024 season from Bilbao Basket It was also approved with 99,96%, which confirms the shareholders' support for the club's financial and sporting strategy.

El Bilbao Basketball is in a moment of growth and financial consolidation, with a robust budget and efficient management, the club is charting a clear path towards a promising future, both sportingly and economically. The Ordinary General Meeting It has been a reflection of this positive evolution, laying the foundations for the team to continue being a benchmark in Spanish basketball.

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