Atlético Madrid show €1.8m profit but debt balloons to €999m

November 30 – Spain’s Atlético Madrid will report a net profit of €1.8 million for the 2019/20 season despite debt rising to a massive €999 million, according to reports.

The finances, which haven’t been officially released but which have been seen by, show a 9% (€32 million) year-on-year drop in turnover to €325.3 million.

The biggest income contribution for Atlético was their €123 million share of broadcast rights . They received €77.8 million in advertising revenue and €40 million from commercial partnerships. A further €100 million was reported as coming from “sports related revenues”.

Earlier this month LaLiga imposed a salary cap across all its caps, requiring Atlético to cut their wage bill to €252 million, a drop of 27%, for the 2020/21 season.

The club hold their next general meeting with shareholders in December 17 when they are expected to approve the accounts and budget for the current year.

Atlético are currently in second place in what is an uncharacteristic-looking LaLiga table. They are a point behind Real Sociedad with two games in hand. Real Madrid are six points behind Atlético in fourth but have played a game more, while Barcelona have played the same number of games but are nine points behind in seventh place.

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