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Madrid says pandemic cost club more than 100 million euros

Real Madrid lost more than 100 million euros (USD 120 million) in income because of the coronavirus pandemic, the club has said. Madrid said the impact of the pandemic represented a 13-percent reduction in income for the 2019-20 season.

PTI | Madrid | Updated: 03-12-2020 09:11 IST | Created: 03-12-2020 09:11 IST
Madrid says pandemic cost club more than 100 million euros

Real Madrid lost more than 100 million euros (USD 120 million) in income because of the coronavirus pandemic, the club has said. Madrid said the impact of the pandemic represented a 13-percent reduction in income for the 2019-20 season. It closed with a profit of 313,000 euros (USD 375,000).

Madrid said it projects a budget of 617 million euros ($740 million) for 2020-21, about 300 million euros ($360 million) less than what would have been expected without the pandemic. First-team players and coaches in soccer and basketball voluntarily agreed to lower their salaries by 10 percent this year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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