By Johnny Askounis/ info@eurohoops.net
Despite being crowned Turkish Airlines EuroLeague champion, Real Madrid lost 27.8 million euros in the 2022-23 season, according to 2Playbook.
Expenses topping income once more expanded from FC Barcelona to Real Madrid. The Catalonia giant suffered financial damage of 56.6 million euros, per an earlier similar report of the Barcelona-based outlet.
Oddly, Los Blancos saw expenses grow from bonuses on personnel contracts relating to winning the EuroLeague, as noted. Income reaching a record-breaking 22 million euros eventually fell way short of covering the overall cost of the team.
The report rewinding to the previous championships in Europe’s premier club continental competition mentions that the team based in Spain’s capital lost 28.9 million euros in 2017-18 and 27.9 million euros in 2014-15. On both occasions, the financial damage was significantly bigger compared to the previous campaign.
Finally balancing and even turning the basketball division into a profitable business plan has been the goal set by club president Florentino Perez. However, his team did not proceed with budget cuts, heading to the 2023-24 campaign, in contrast to archrival Barca.
On a perfect ride since the beginning of the 2023-24 season, Chus Mateo’s side leads the EuroLeague Regular Season standings behind a 5-0 record and sits on top of Spain’s Liga Endesa table with a 7-0 start, besides winning the 2023 Supercopa Endesa in Murcia. Shifting to Round 8 of the ACB Regular Season, Madrid will visit Coviran Granada seeking a 15th win in as many outings on Sunday.