Uriarte dresses for assembly

Athletic Club's board presents its accounts to members at Wednesday's general assembly, defending a €152m budget and €9m stadium expansion plan.

Athletic Club's board of directors is presenting to member delegates at the club's ordinary general assembly on Wednesday afternoon. The board will seek approval for the previous financial year's accounts and a €152m budget for the coming season.

The club's budget has been reduced by approximately €40m due to the absence of European competition this season. However, the board emphasises the club remains in sound financial health with assets of around €112m. Member fees will rise by approximately 2%. The budget is structured to show a €3m loss, with the board allocating €17m from reserves created under previous management to cover this shortfall.

Treasurer Guillermo Ruiz-Longarte explained the board has applied conservative accounting principles, including higher player amortisation charges that will reduce future costs. The board will also address member concerns about the suspension of new membership invitations, given a waiting list exceeding 11,000 people. Planned investments include a €9m stadium expansion adding 2,440 seats at San Mamés, €2m for Lezama training ground improvements, and €2m for medical technology and business applications.