La Liga: Real Madrid estimate year’s loss of €300M | TheNewsGuru

Real Madrid have estimated a loss of €300m from the past year due to Spain’s stadium lockout.

Real have estimated the losses 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 €122.1m, a figure lower than the €125.3m last year.

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

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, having ended the 2019/20 year with a profit of €313,000.

“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.”

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