Intercity Football Club is finalizing its books for the 2022-2023 season, reporting a notable loss that approaches six million euros. The figures come from the audit conducted by Kreston Iberaudit, which has consistently highlighted the club’s precarious financial position and urged prudence in its commercial decisions.
The audit, led by Salvador Martí and his team, outlines that the club’s balance sheet shows a negative net worth of approximately eight million euros (7,878,420 euros), a figure described as one of the principal drivers of dissolution under current commercial law. The report underlines that such a negative net worth is a major factor in the insolvency assessment facing the club.
The auditors note that accumulated losses continue to erode the club’s assets, bringing them to a level that sits below half of the capital. This threshold is a key determinant in the evaluation of economic viability. In addition, the working capital has remained negative over the past two years, creating ongoing concerns about the organization’s ability to fund daily operations and meet short-term obligations. The overall tone of the assessment raises serious questions about the continuity of the club’s activities in the coming periods.
Intercity reduced its capital by half to offset losses
Pedro Rojas
According to Intercity’s accounting records, the club’s performance in the 2022-2023 season, which marked the third tier of national football, shows a loss of 6,084,034 euros. This outcome comes despite a notable surge in revenue the previous year, attributed in part to the club’s participation in the Copa del Rey. A high-profile match held at Alicante’s José Rico Pérez stadium against Barcelona on January 4 contributed significantly to cash flow. The cup tie generated nearly one million euros in gross income, with box office receipts totaling 731,186 euros. This cup success helped cushion losses incurred on the pitch, yet it did not fully offset the higher expenses and deficits accumulated in earlier seasons. In the 2021-2022 campaign, the club achieved promotion to the First RFEF but still posted a negative result of five million euros as part of a broader trend of financial strain across successive seasons.
These figures illustrate a pattern where strong match-day revenues in isolated competitions are not enough to balance ongoing operational losses. The board has faced mounting pressure to re-evaluate strategic investments, sponsorship arrangements, and player wage structures to restore financial balance while maintaining sporting competitiveness. The club’s leadership continues to emphasize that results on the field must align with sustainable financial planning to preserve long-term viability.
Representative of Alicante Intercity and Vanadi cafes benefit from the Second Chance Law
Mercedes Gallego
In light of the financial challenges, Intercity made a formal decision last July to adjust its capital structure. The company reduced capital and slightly increased share premium, resulting in a net capital figure of 5.7 million euros, a move intended to reflect accumulated losses from prior years. The management stresses a careful approach to capital management as it seeks to restore financial health while navigating the regulatory environment that governs such restructurings.
Intercity indicates that it expects to be able to settle 7.6 million euros of its short-term liabilities once the financing agreement with the investment fund Alpha Blue Ocean is finalized. The package with the fund amounts to 11 million euros, providing a potential runway for the club to stabilize liquidity, restructure debt, and pursue a measured path toward stability. The timeline for closing these arrangements remains a priority for the club’s supporters and stakeholders, who are watching the situation closely [citation: Intercity financial disclosures, 2023-2024].