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EFE | 08/01/2013
Villarreal held their annual shareholders meeting on Tuesday, where a budget of 43.4 million euros was approved for this season, and losses of 22.7 million euros were announced from the previous year.
However, the budget only permits the club to spend 33 million euros, with the remaining 10 million euros going towards outstanding payments from previous years.
The club announced it received 89.6 million euros in income for season 2011-12, but spent 112.4 million, signifying the 22.7 million euro loss.
The most pertinent announcement from the meeting was the reduction in the team's budget owing to the team's relegation from the top flight.
The club's budget from last season to this season was reduced by more than half, from 90 million euros in 2011-12 to 43 million euros in 2012-13. However, the club still have the largest budget in the Segunda División A, but at the moment are sixth in the league table, seven points off an automatic promotion spot.
The club have managed to counter the economic hit from relegation and reduce their debt through the sales of Borja Valero, Diego López, Gonzalo Rodríguez and Giusseppe Rossi.
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