HomeLaLigaReal Madrid closed financial year with 13 million euros profit

Real Madrid closed financial year with 13 million euros profit

Soccer Football – Champions League – Final – Fans gather in Paris for Liverpool v Real Madrid in the Champions League Final – Paris, France – May 28, 2022 A Real Madrid fan is pictured with a flag in front of the Eiffel Tower ahead of the Champions League final REUTERS/Kai Pfaffenbach/Files

(Reuters) – Real Madrid closed the 2021-22 financial year with a 13 million euros ($13.19 million) profit, the Spanish club said, with the COVID-19 pandemic still having an impact on revenues.

The club had managed to remain in profit over the three financial years affected by the COVID-19 pandemic, it added.

In the 2021-22 season Real won a record-extending 14th European Cup when they beat Liverpool 1-0 in the Champions League final, while they also won the LaLiga crown and the Spanish Super Cup.

The club said the cash balance at June 30 2022, excluding the stadium redevelopment project, was 425 million euros, while the loss of income due to the pandemic since March 2020 had touched 400 million euros.

“Operating income for the financial year 2021/22 has reached 722 million euros, an increase of 69 million euros (10%) year-on-year, as the economic effects of the pandemic are gradually subsiding,” the club statement read.

It added, however, that revenues were still being impacted by the pandemic.

The club’s net debt, excluding the stadium redevelopment project, reached a value of 263 million euros as of June 30 2022, the statement added.

($1 = 0.9855 euros)

(Reporting by Manasi Pathak in Bengaluru; Editing by Peter Rutherford)