Real Madrid announce 300 million euros of lost income

Posted Thursday, July 15, 2021 by Marca.com

Accounts have been published, and things don't look good

Florentino Perez

Real Madrid have presented their accounts from the 2020/21 fiscal year, which was heavily influenced by the coronavirus pandemic.

Los Blancos have estimated their COVID-caused losses to be at 300 million euros since March 2020, when LaLiga Santander was forced to stop and the Estadio Santiago Bernabeu had its doors shut. The team haven't played at their traditional home since.

The club have also reported that, as of June 30, 2021, the balance recorded by the treasury is 122.1 million euros, a figure lower than the 125.3m euros last year.

The accounts don't show the Bernabeu's renovation project, which amounts to 279 million euros with a loan organised on June 30, 2021, for 375m euros. The club's net worth, meanwhile, is 534m euros.

As well as outlining the club's money-saving tactics, such as cutting the salary costs, the report predicts that "the recovery from the situation brought by the pandemic will not be immediate. As a result, the club will continue in its efforts to limit spending as has been done until now."

Real Madrid also showed post-tax profits, with a balance of 874,000 euros, having ended the 2019/20 year with a profit of 313,000 euros.

"The club are one of very few big European clubs to have not incurred losses over the last two years," the club wrote. "According to a UEFA study, the operating losses accumulated by European clubs between 2019/20 and 2020/21 will be close to six billion euros."