Spanish football champions Real Madrid said on Tuesday that it had a profit of 13 million euros ($13.19 million) at the end of the 2021-2022 financial year, while the impact of the Covid-19 pandemic on revenues continues.
Real Madrid added in a statement that it continued to make profits during the three years hit by the coronavirus pandemic, Reuters reported. The team’s profits have been reduced by the lack of fans in the stadiums in recent years due to the coronavirus pandemic, but it has not reached the point of loss, as has happened with other European clubs.
The new profit represents a significant increase as the club reached just €874,000 in the last financial year 2020-2021.
The announcement of the new profit came during a meeting held by club president Florentino Pérez with Real Madrid shareholders to brief them on the team’s financial situation.
In the 2021-2022 season, Real Madrid won the Champions League for the 14th time, consolidating their unprecedented record, as well as the Spanish title and the local Super Cup. The club also said in a statement that its net debt, which does not include the stadium development project, was €263m as at 30 June 2022.
Real Madrid’s sources of income are as follows: television rights to competitions, tickets to matches, player deals, and the sale of clothing and items for the team around the world. In addition to this, the team receives financial prizes for winning local and international tournaments.
