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Atletico Madrid turns profit with training complex sale
Spain - 05 January, 2007
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Spanish Atletico Madrid turned a profit during 2005-2006 with the sale of the club's training complex in Alcorcon playing a key role.
The club announced a profit of EUR 3.4 million for the 2005-2006 season.
Profit was also boosted through the transfer of striker Mateja Kezman for EUR 7 million. Atletico is also due to increase its income from sponsors Nike, and Coca-Cola and will be able to increase them considerably through qualification for the UEFA Champions League.
Expenses rose by 36 percent against the previous season, with the outlay on players salaries cutting into the budget.
The budget for the new season has been calculated at EUR 80 million, up EUR 24 million from last season.
An impending share issue for EUR 156,833 was approved and 18,451 shares made available.
The club announced a profit of EUR 3.4 million for the 2005-2006 season.
Profit was also boosted through the transfer of striker Mateja Kezman for EUR 7 million. Atletico is also due to increase its income from sponsors Nike, and Coca-Cola and will be able to increase them considerably through qualification for the UEFA Champions League.
Expenses rose by 36 percent against the previous season, with the outlay on players salaries cutting into the budget.
The budget for the new season has been calculated at EUR 80 million, up EUR 24 million from last season.
An impending share issue for EUR 156,833 was approved and 18,451 shares made available.
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