what you should remember from the publication of the accounts for 2022-2023 by DNCG

A huge, but reduced, structural deficit

44 million: this is the deficit excluding transfers of the Girondins. That is huge, even more so considering the moderate incomes at this level and the €7m relegation aid received. Among the 40 clubs in Ligue 1 and Ligue 2, only three clubs (Nice, Paris SG and Lyon) do worse. However, it is reduced compared to the 2020-2021 season, Gérard Lopez’s first at the helm, in Ligue 1 (73 million euros).

The main focus remains the wage bill: even reduced from 65 million euros to 56 million in 2021-2022, then 42 million euros after relegation to Ligue 2, it remained well above Saint-Etienne (27 million euros) and Metz (21 million euros) and the 13th in France including Ligue 1. It is higher in turnover alone (32 million euros).

“Other fees” (24 million euros) and agent fees (3.5 million euros) are also records for Ligue 2 when income from sponsorship and match days (around 9.08 million euros) “euro) is lower than for Stéphanois (9.9 million euros) and Messins (9.6 million euros).

According to our information, the imbalance remains strong this season with revenues (TV rights included) around 18 million euros for a salary that is still reduced but still around 36 million euros.

Transfers and shareholder contributions to stay afloat

Despite this record deficit for Ligue 2, the Girondins posted a positive net profit of €19.2 million. This is due to the income from the transfers and the forgiveness of debts from King Street and Fortress.

If the transfer of Bakwa and Mwanga to Strasbourg (for a sum of around €20 million for the two players) is not included, the sale of Sékou Mara, Hwang Ui-Jo and Jean Onana from the summer of 2002 includes the profit sharing on the transfer of Aurélien Tchouaméni from Monaco to Real Madrid. In total, they brought in 35 million euros. The two investment funds gave away 31 million euros (read below).

To enable the club to operate, Gérard Lopez, 99.9% owner via his company Jogo Bonito, contributed to the shareholder’s checking account. Between 1 July 2022 and 20 June 2023, these amounted to 45 million euros.

Less financial debt

This is one of the points that allowed the Girondins to save themselves at the last moment in the summer of 2022 thanks to a positive statement by the CNOSF followed by the FFF: the reduction in the financial debt of King Street and the Fortress. In particular, they had agreed to “give up” half of their dues. They had recovered the profit from the transfer of Jules Koundé from FC Sevilla to FC Barcelona, ​​and part of it went to Jogo Bonito. With the repayment of the club, this debt fell, on the balance sheet, from 53 million euros on 30 June 2022 to 6.9 million euros one year later.

It may jump again in the coming weeks. To tackle the new heavy structural deficit for the current season and help fund next, Gérard Lopez, who has had to go back to the pot for two months for cash flow and avoid a payment freeze, hopes to quickly complete a loan.