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The Board of Directors of Real Madrid carried out the accounts of the entity by an overwhelming majority. The members representing the white club approved the accounts for the 2020-2021 season, marked by the pandemic and which yielded a positive result for the entity. Madrid closed the year with a surplus of 874,000 eurosAs a result of the effort made by those responsible for the club in applying the cost reduction. The delegates also gave their approval to the budget for the 2021-2022 season, which will be 695 million euros, at a level still below before the pandemic.

Madrid weathered the pandemic storm for the second consecutive season and managed to turn a profit, an extraordinary feat in the European football landscape, where UEFA estimates that clubs have accumulated losses worth up to 8.7 billion euros. The white club managed to end with a profit of 874,000 euros, compared to the 313,000 euros of benefits with which it closed the 2019-20, with four months of pandemic in the accounts. Operating income amounted to 653 million euros, 8% less than the 714.9 M € in 2019-20, in which only four months were affected by the pandemic.

The club made a titanic effort to compensate with the reduction of expenses the estimated loss of 300 million euros that it stopped receiving due to the lack of public, the reduction of income from the operation of the stadium and other commercial activities and the deterioration of the television rights that LaLiga and UEFA have suffered. Last season the club managed to save 235 million euros in different concepts: 22 million euros (36 M € in 2019-20) in the salary reduction agreed with the first soccer and basketball teams and the senior executives of the entity; another 38 million euros in operating expenses (€ 24 million in 2019-20); and 175 million euros derived from the sale of players (for transfers, income from transfers and amortizations and personnel expenses). In total, the club has been able to save 295 million euros since the start of the pandemic.

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* Data updated as of November 20, 2021

Despite the difficulties, the club has managed to increase EBITDA (a management indicator that measures current activities, before taxes, depreciation and amortization) in the last two seasons. In 2020-21 it was 179.6 million euros, 1.5% more than the 176.9 million in 2019-2020, which already represented an increase over the € 176 million in 2018-19.

The cash balance at June 30 was 122.1 million euros, the equity was 533.7 million and the net debt amounted to 46.6 million euros.. The club, in addition, has credit policies without having available for a value of 361 million euros, a position that allows it “to comfortably face the planned payment commitments.” The club’s contribution to tax revenues and payments to Social Security amounted to 242.9 million euros.

Voting result

The representative partners overwhelmingly approved the 2020-2021 season accounts: with 1,673 votes in favor (99.76% of the votes cast), 3 votes against (0.18%) and one abstention (0.06%).

The budget for season 2021-2022, of 695 million euros, also aroused almost unanimity: 1,666 votes in favor (99.76%), three against (0.18%) and one abstention (0.06%).

The partners also agreed to keep frozen the social quotas for the 2022-2023 season, with 1,661 votes in favor (99.4%), five against (0.3%) and five abstentions (0.3%).