2023-07-17 16:13:23
Real Madrid has published this Monday the summary of its accounts during the 2022/23 financial year, which has just ended. Some numbers that show the good economic health of the white club, as well as the investment made in the still unfinished comprehensive reform of Santiago Bernabeu. Some works in which the club chaired by Florentino Pérez has spent €893 million.
A figure, the latter, that confirms the extra cost of the pharaonic reform, largely attributable to the inflation derived from the war in Ukraine and the crisis of materials that the war has brought with it. Nevertheless, the club already foresaw an increase in the initial cost in November 2021before the start of the war, by finding “an innovative engineering solution that did not exist before,” as he explained Florentino Perez to the members of Real Madrid.
Initial credit of 575 million
At that meeting, Pérez received authorization to expand the initial credit of 575 million euros, considered sufficient at the time of initiating the reform. Said loan has already been consumed in its entirety and Real Madrid will begin to repay it from July 30, when it will face the payment of a first installment of 34 million.
The club provided an additional 225 million euros, for a total of 800 initials to complete the works, a milestone scheduled for the end of this year. In addition, it has the 360 million from the agreement with Sixth Street and Legends for the sale of 30% of the stadium business for 20 years, the ‘lever’ of Florentino Pérez to upgrade the stadium.
The final price is unknown
What the club has not clarified is the total amount that it plans, right now, to allocate to works at the Bernabéu, although it offers the reference that During the 2022/23 academic year, it allocated 355 million euros to that project. It also points out that as of June 30, it has unavailable credit policies for an amount of 265 million euros.
Taking out of the equation all the expenses of the new Bernabéu (the club has been doing so since the project began), Real Madrid will present its members with accounts that reflect an accounting profit of 12 million eurosonce again with negative net debt.
843 million income
The white club highlights in its report that it has managed to present benefits during all the years conditioned by the pandemic. In fact, it points to the fact that last year’s income, excluding those derived from transfers of footballers, rose to €843 millionexceeding pre-pandemic figures for the first time.
Other relevant data are net worth, which exceeds 500 million euros for the fifth consecutive year (558 this time) and the treasury balance, estimated at 128 million euros. In simple language, that is the money that Real Madrid currently has in their bank accounts. In addition, Madrid highlights that it allocated 342 million to tax and Social Security payments in the recently concluded financial year.
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