DBasia.news – Real Madrid president Florentino Perez presented the club’s economic balance sheet for the 2020-21 season. A situation heavily affected by the Corona virus pandemic.
Los Blancos estimate their losses due to Covid-19 have reached 300 million euros, or around Rp 5.1 trillion since March 2020, when LaLiga was forced to stop and the Santiago Bernabeu stadium was closed for renovations.
The club has also reported that as of 30 June 2021, the recorded balance was 122.1 million euros, an amount lower than 125.3 million euros last year.
The account does not show the renovation project of the Santiago Bernabeu which amounted to 279 million euros with a loan held on 30 June 2021 amounting to 375 million euros. Meanwhile, the club’s net worth is at a valuation of 534 million euros.
Apart from outlining the club’s austerity tactics such as cutting staff salaries, the report predicts that a recovery from the pandemic will not be imminent.
“This club is one of the few major European clubs that has not suffered losses over the past two years.
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,” read the statement as quoted Marca.