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Real Madrid reported profit for 2019/20

Fri 04 December 2020 | 6:34

Real Madrid have published their economic projections for last season and their funds for this season, which has undergone a reduction in income of €300m due to the Coronavirus pandemic.

For the 2020/21 season, a budget of €617m has been estimated.

€300m less than if there had been revenue growth in line with previous years prior to the pandemic,

” according to

Madrid

.

Real Madrid

will notify their members at a meeting set to be held on December 20th.

Due to the pandemic, players of the football and basketball teams, as well as club executives, have had a salary decrease of 10%.

Other savings projects have saved an extra 8%.

Madrid

secured long-term bank financing in April and May to help administer the effects of the Coronavirus pandemic, saving €155m in five-year loans and €50m in a three-year credit policy.

The funds calculated is €113.7m and the first provision of the loan of €100m has been made regarding the ongoing work on the new Santiago Bernabeu.

Besides last season, 2019/20,

Madrid

announced that it had a profit of €313,000 despite the notable decline in income derived from the Coronavirus pandemic.


source: SportMob

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