MADRID : Spain’s professional soccer clubs reduced their losses in 2021-22 by more than six times to 140 million euros ($155 million) as revenues rose some 23 per cent, largely recovering from the impact of the COVID-19 pandemic, LaLiga announced on Thursday.
It said the season’s net deficit was the smallest among Europe’s five main leagues, which lost a combined 3.1 billion euros according to the available data and its own calculations, with Germany’s Bundesliga coming second at 205 million.
LaLiga expects the current season to produce a net profit of just below 30 million euros, “still far from levels reached in the pre-COVID years”, with revenues adding a little over 1 per cent.
COVID restrictions hit ticket sales and player transactions in 2020-21, leading to the Spanish league’s first loss since 2012.
Although the transfer market remains subdued, LaLiga said it now considers the impact of the pandemic largely overcome.
Revenues reached almost 4.84 billion euros in 2021-22, landing just short of the record of nearly 5.07 billion in 2019-20.
Spanish clubs’ investment in players rose slightly to 576 million euros from 547 million a year ago, but was well below the 1.53 billion splashed out the season before.
However, the amount of money spent on infrastructure jumped to 430 million euros, exceeding pre-pandemic levels.
That included investment by Barcelona to renovate the iconic Camp Nou stadium and its surroundings.
Last month, the club secured a financing deal worth 1.45 billion euros with 20 investors, including Goldman Sachs and JP Morgan, after having renegotiated the initial terms.
Barcelona will finish repaying the debt six years earlier than previously agreed and the new deal includes additional refinancing and interest rate risk for the club.
Barca have been trying to improve their troubled finances by turning assets into cash and bringing in new sponsors.
($1 = 0.9051 euros)
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