MADRID, 11 Nov. (EUROPA PRESS) –
This Saturday, Real Madrid presented the budget for the current season, the 2023-2024 campaign, in which it hopes to earn 939.5 million euros, to continue, as in “the last two decades”, with the “extraordinary economic trajectory, as well as sports,” as announced by the third vice president of the entity, Pedro López Jiménez.
During the Ordinary General Assembly of Real Madrid, held in person, in the Valdebebas basketball pavilion, and electronically, the merengue club approved the Liquidation of the Budget, the Report, the Balance Sheet and the Profit and Loss Account of the entity corresponding to the 2022-2023 financial year.
“The economic trajectory of Real Madrid during the last two decades presents an extraordinary profile, as much as the sporting trajectory in which the other is the basis,” López Jiménez began the presentation of the white team’s accounts, excluding the economic data from them. of the remodeling of the ‘new’ Santiago Bernabéu.
Real Madrid stood out in front of the situation of other European “colleagues”, focusing on the 176 million losses of FC Barcelona between 2019 and 2023, despite “the sale of structural assets of the Barça club”.
López Jiménez explained that, now that the impact of the COVID pandemic has been overcome, operating income in 22-23 reached 843 million euros. With the exception of income from competitions – Real Madrid was European champion in 21-22 and did not retain the title last season -, “all the remaining lines of business have experienced growth”, with the entity “vastly” exceeding 757 million in pre-pandemic income.
Although in this income, Real Madrid regretted the drop in the contribution of members, in subscriptions and fees, which in 22-23 represented 6.1%. A fact that confirms the decrease in this section in the last two decades, far from the 16% it represented in 2000.
Even so, the income of the merengue club, which is now growing at a rate of 8.9% compared to 10.3% before the pandemic, maintains a “balanced structure”, although López Jiménez criticized the “aggressions” by LaLiga regarding TV rights.
After reporting those 843 million in income generated in 22-23, 10% more than the budget at the beginning of last year, the club highlighted the “operational efficiency” of the entity, which “has demonstrated the response of the club in the face of crises”.
In the expenses section, those that have to do with personnel stood at 54%, below the 70% that UEFA sets as a threshold of excellence. In addition, 31 million costs were included in unbudgeted player losses, such as those of Karim Benzema or Marco Asensio.
As of June 30, 2023, Real Madrid presented an EBITDA result – before debt interest, taxes, depreciation and amortization – of 158 million euros, with 74 million profits from the disposal of players. In addition, the club’s treasury stood at 128 million euros, experiencing a small decrease due to renewals of footballers and bonuses for sporting successes, as well as the amortization of ICO loans due to COVID.
Figures that allow the net worth to increase to 558 million euros, “in the face of the horrendous losses” of other European clubs, highlighted López Jiménez, who also highlighted the liquidity position and zero net debt of the Merengue club.
All of this means that Real Madrid’s profit after taxes is 12 million euros, 10 million more than the budgeted amount of 2. “We maintain the positive results of the last 22 years,” celebrated the third vice president. These accounts of 22-23 were approved with the support of 1,691 members who cast their vote in favor at the Assembly.
1,000 MILLION INCOME, GOAL FOR THIS SEASON
López Jiménez also presented the Consolidated Budget of Income and Expenses and the Activities Project for the current fiscal year, for examination and approval by the partners. In it, it is worth highlighting the 939.5 million euros that the entity expects to earn in the 23-24 academic year, compared to the 843 with which it closed the 22-23 year. Therefore, the White Board of Directors sees it possible to overcome the barrier of 1,000 million in income in the current campaign.
Although it will be in 24-25 when the business lines are at full capacity at Real Madrid, López Jiménez made it clear. “From 2023-2024, when the remodeling work is completed, income will rise to another level. Starting next season, a new transformative stage begins for Real Madrid,” he assured.
In the data presented for the following season, a profit after taxes of 6.4 million euros is budgeted, compared to the 11.8 with which the previous campaign closed. “These results would be impossible without the vision, work and tenacity of Florentino Pérez,” emphasized the third vice president of the entity, before the Budget proposal for 23-24 was approved with 1,681 votes in favor.
In addition, the partners, with the support of 1,613 yeses, gave the green light to the fees for the 24-25 season, which will be increased with the corresponding VAT at the time of their accrual. Thus, they will be under 11 years old, exempt; between 11 and 14 years old, 41.16 euros; reduced, to 71.76 euros; and adult, 143.63 euros. While partners with more than 50 years of seniority will continue to be exempt.