Zaragoza reduces its net debt to 67.9 million

The Real Zaragoza SAD will present this Tuesday at its Ordinary General Shareholders’ Meeting the results of the 2020-21 financial year, with a profit of 2,964 million euros after taxes, as AS advanced, which represents the seventh consecutive season with a surplus, and which leaves the net debt of the sports corporation at 67.9 million euros.

Since the arrival in July 2014 of the Zaragoza 2032 Foundation, the net debt has been reduced by almost 39 million, more than half the product of the transfers of Rico, Vallejo, Pep Biel, Soro, Pombo and Raúl Guti, but the cash flow problem continues to be enormous, despite the recent signing of the contract between LaLiga and the investment fund CVC, For which the Aragonese club will receive just over 11 million euros. So the shareholder change is imposed as the only solution within an increasingly divided and confronted board of directors.

Within that debt of almost 68 million it is necessary to face payments to the Tax Agency for almost 11 million, between the short term and a privileged credit, in addition to having signed two loans with the Government of Aragon amounting to 1.8 million and another three loans with the Zaragoza 2032 Foundation for a total of 15.16 million. For his part, heZaragoza’s total ordinary debt amounts to another 24.7 million and, after the second modification of the creditors’ agreement, the payments, which were to end in 2025, will be extended linearly until 2031, at a rate of 2.47 million per year.

Real Zaragoza had a turnover of 13.69 million in fiscal year 2020-21, about 3.3 less than in the 2019-20 season, due to the COVID-19 pandemic. as there is no public in La Romareda and the price of season tickets is lowered by 40%. Y In this 2021-22 campaign, the budget that has been initially calculated is 12.3 million.

The Ordinary General Meeting, which will be face-to-face again, will begin at 10:00 am, in the press room of the La Romareda stadium, and all shareholders who have or represent a minimum of 320 shares will be able to access.