Real Madrid announce 12 million Euros revenue in 2022/23 amid stadium renovation and Covid-19 challenges

By India Today Sports Desk: Spanish giants Real Madrid have introduced that they closed the 2022-23 monetary yr with a revenue of 11.8 million euros. Although that is barely decrease in comparison with the earlier season, the membership has managed to take care of profitability over the previous 4 monetary years regardless of the challenges posed by the COVID-19 pandemic and the continuing renovation venture at their Santiago Bernabeu stadium. The renovation venture, set to be accomplished by the top of 2023, has price the membership 893 million euros.

According to a press release by the membership, the working revenue for the monetary yr 2022-23 reached 843 million euros, which is a major enhance of 121 million euros (17%) in comparison with the earlier monetary yr of 2021-22.

While stadium revenues have been restricted as a result of redevelopment venture and are nonetheless 13% decrease than the 2018-19 season, revenues from different enterprise traces have already surpassed pre-pandemic ranges. One space that stands out is advertising revenues, which have seen a noteworthy enhance of 12%.

Real Madrid’s web price has additionally seen a optimistic improvement, now standing at 558 million euros, a rise of 12 million euros from the earlier season. Additionally, the membership’s web debt, excluding the Bernabeu venture, is reported to be 46.7 million euros as of June 30, 2023, an unlimited enchancment in comparison with the online debt of 263.1 million euros reported final yr.

The Spanish membership gained Copa del Rey, UEFA Super Cup and the Club World Cup, however failed in LaLiga and Champions League. In the Spanish League, the membership got here second, far behind winners FC Barcelona and had been knocked out by Manchester City within the semi-finals of the competitors.