Real Madrid announced the team’s financial details after the end of the 2020-2021 season.
The club said in an official statement that it closed the 2020-2021 financial year with a profit of 874,000 euros after taxes, and closed the 2019-2020 fiscal year with a profit of 313,000 euros, to be one of the big clubs that did not incur losses due to Corona.
The club indicated that the study conducted by the European Football Association, the accumulated losses on European clubs in the past two seasons amounted to 6 billion euros.
Real Madrid also announced a decrease in net debt from 240 million euros at the end of the 2019-20 season to 46 million euros at the end of the 2020-2021 season.
According to the club’s statement, the transfer budget will be 122 million euros this summer.
Real Madrid’s profit before taxes, depreciation and debt payment amounted to 180 million euros, compared to 177 million euros in the 2019-2020 season and 176 million euros in the 2018-2019 season.
Real Madrid clarified the measures it took in the past two seasons to avoid Corona losses by not contracting players in the summer of 2020 and dispensing with some players, in addition to reducing the salaries of players and administrators by 10% and reducing the club’s expenses by 25%.