Spanish football champions Real Madrid FC in their annual financial report revealed that they had converted a profit of €13 million($13.19 million) at the season closing. They also revealed a cash balance of €425 million($430.3 million), as they succeeded year-on-year to remain in profit even in the 3 years affected by the Covid-19 pandemic.
Real Madrid officials said on Monday that since the beginning of the Coronavirus pandemic in 2020, the club’s loss of income reached nearly €400 million($405 million), in comparison to the situation before the pandemic. They said that the effects of the pandemic are still not entirely wiped out, and that they are gradually reducing.
Last year’s operating income reached €722 million($731 million), a 10% year-on-year increase amid the pandemic, as it added that the revenues were still being affected by the pandemic.
The cash balance of €425 million and net debt of €263 million($267.77 million) as of June 30, 2022 excluded the redevelopment project of Santiago Bernabeu Stadium.
Real Madrid ended their 2021-22 season on a high as they won the Spanish league La Liga, UEFA Champions League and the Spanish Super cup.
Credit: Technosports
