Atletico Madrid’s debt is to reach an all-time high of €999M, according to a report published by Goal.
Atletico have been one of the most successful clubs in Spain over recent seasons in a playing capacity, but if this report from Goal in their native homeland is anything to go by, their finance team are not having such an enjoyable time of it.
Goal report that Atletico received €343.3M via various different revenue streams over the previous financial year. However, that wasn’t enough to prevent their overall debt rising by a total of €19M, meaning it now stands at €999M – just a million shy of a seriously scary figure.
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While, as noted in the report, a great deal of that figure is long-term debt, presumably linked to the build of the Wanda Metropolitano, it’s hardly ideal circumstances for the club to find themselves in, especially in the midst of a global pandemic and the unfavourable financial climate that has created.
At what point Atletico CEO Miguel Ángel Gil Marín will tighten Diego Simeone’s spending capacity remains to be seen, but one thing’s for sure, their recent philosophy of selling before they buy will be continuing in to the near and long-term future.