The LaLiga club Real Madrid CF (Spain) closed the 2022-2023 financial years with an 11.8 million euro ($13.25 million) profit, the Spanish club said recently, around one million euros less than in the previous season despite higher revenue.
‘Reuters’ stated that the Spanish club managed to remain in profit over the last four financial years despite the negative impact of the COVID-19 pandemic and the 893 million euros renovation project of their home arena – the Santiago Bernabéu Stadium in Madrid, Spain, set to be concluded by the end of 2023.
Real Madrid Club de Fútbol, commonly referred to as Real Madrid, is a Spanish professional football club based in Madrid, Spain. The club competes in LaLiga, the top tier of Spanish football. Founded in 1902 as the Madrid Football Club, the club has traditionally worn a white home kit since its inception.
The Santiago Bernabéu Stadium is a football stadium in Madrid, Spain. With a current seating capacity of 83,168, it has the second-largest seat capacity in Spain, and it has been the home stadium of Real Madrid since its completion in 1947.
The Santiago Bernabéu Stadium redevelopment is on which will give it an avant-garde look. The new-look Bernabéu is now expected to be unveiled on December 23rd, 2023.
‘Reuters’ further stated that the club sent out a statement which read, “Operating income for the financial year 2022-2023 has reached 843 million euros, an increase of 121 million euros (17 percent) compared to the 2021-2022 financial year.”
They added, however, that stadium revenues, limited by the redevelopment project, were still 13 percent lower than in the 2018-2019 seasons but revenues from the remaining business lines have already exceeded the pre-pandemic levels, with marketing revenues (up 12 percent) standing out in particular.
Madrid said their net worth is 558 million euros, 12 million more than the last season, and their net debt, excluding the Bernabéu project, stood at 46.7 million euros as of June 30th, 2023.
That is a major improvement from last year, when their net debt was 263.1 million.
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