Real Madrid closed the 2021-22 financial year with a €13 million (S$18.4 million) profit, the Spanish club said, with the Covid-19 pandemic still having an impact on revenues.

The club had managed to remain in profit over the three financial years affected by the Covid-19 pandemic, it added.

In the 2021-22 season, Real won a record-extending 14th European Cup when they beat Liverpool 1-0 in the Champions League final, while they also won the La Liga crown and the Spanish Super Cup.

The club said the cash balance at June 30 2022, excluding the stadium redevelopment project, was €425 million, while the loss of income due to the pandemic since March 2020 had touched €400 million.

“Operating income for the financial year 2021/22 has reached €722 million, an increase of €69 million (10 per cent) year-on-year, as the economic effects of the pandemic are gradually subsiding,” the club statement read.

The Santiago Bernabeu outfit added, however, that revenues were still being impacted by the pandemic.

The club’s net debt, excluding the stadium redevelopment project, reached a value of €263 million as of June 30 2022, the statement added. REUTERS

Last modified: September 13, 2022