Atletico Madrid reach nearly A BILLION euros in debt
Atletico Madrid are believed to be nearly €1 billion in debt with revenue streams decreasing during the COVID-19 crisis.
That is according to Goal who are reporting the 2014 La Liga champions’ revenue is projected to have fallen nine percent year-on-year, some €325 million.
Diego Simeone’s side spent €80.5 million on transfers in the summer, per Transfermarkt, as well as adding Luis Suarez’s salary to the payroll.
The club splashed on record signing Joao Felix last year, but that move was offset by lucrative sales of the likes of Antoine Griezmann, Lucas Hernandez and Rodri.
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Despite this, though, Atleti did post a net profit of just under €2 million, owing to funds coming in from commercial partners and broadcast rights deals. The report also said the club’s total sports-related income was recorded at around €100 million.
This comes as La Liga have issued widespread financial regulations for this season to ensure fairness and survival of all clubs.
The league body has set out to reduce the maximum wage bill of clubs to €700 million by essentially mandating a salary cap.
This will result in Atleti being forced to reduce their total salary by 27% to align with regulations for the remainder of this season, while Barcelona are believed to be in need of a 40% adjustment.
Los Rojiblancos have enjoyed a terrific start to the season, sitting second in La Liga with two games in hand potentially taking them five points clear at the top.
The side are preparing to face Bayern Munich on Tuesday night in a blockbuster Champions League clash where a loss could prove fatal to their hopes of reaching the knockout stages.