AP

Real Madrid closes 2021-22 season with profit of 13M euros

Sep 12, 2022, 2:39 PM | Updated: 3:01 pm

Real Madrid's Vinicius Junior, left, celebrates after scoring his side's 2nd goal during the Spanis...

Real Madrid's Vinicius Junior, left, celebrates after scoring his side's 2nd goal during the Spanish La Liga soccer match between Real Madrid and Mallorca at the Santiago Bernabeu stadium in Madrid, Spain, Sunday, Sept. 11, 2022. (AP Photo/Manu Fernandez)

(AP Photo/Manu Fernandez)

MADRID (AP) — Real Madrid closed the 2021-22 season with a profit of 13 million euros ($13.2 million) and a cash balance of 425 million euros ($430.3 million).

The club said on Monday the loss of income because of the coronavirus pandemic since March 2020 reached nearly 400 million euros ($405 million) compared to the pre-pandemic situation, in addition to the loss of new revenue that could have been generated without the pandemic.

The operating income for last season reached 722 million euros ($731 million), the club said, an increase of 10% year-on-year “as the economic effects of the pandemic are gradually subsiding.”

The club said the effects of the pandemic were still lingering, though, which is why the revenue for 2021-22 was still lower than it was four years ago.

The 425 million euros ($430.3 million) in liquid assets excluded the redevelopment of Santiago Bernabéu Stadium.

Madrid won a record 14th European title last season, in addition to the Spanish league and the Spanish Super Cup.

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Real Madrid closes 2021-22 season with profit of 13M euros