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<\/a><\/p>\nMADRID (Reuters) – Spain’s professional soccer clubs reduced their losses in 2021-22 by more than six times to 140 million euros ($155 million) as revenues rose some 23%, largely recovering from the impact of the COVID-19 pandemic, LaLiga announced on Thursday.<\/p>\n
It said the season’s net deficit was the smallest among Europe’s five main leagues, which lost a combined 3.1 billion euros according to the available data and its own calculations, with Germany’s Bundesliga coming second at 205 million. <\/p>\n
LaLiga expects the current season to produce a net profit of just below 30 million euros, “still far from levels reached in the pre-COVID years”, with revenues adding a little over 1%.<\/p>\n
COVID restrictions hit ticket sales and player transactions in 2020-21, leading to the Spanish league’s first loss since 2012.<\/p>\n
Although the transfer market remains subdued, LaLiga said it now considers the impact of the pandemic largely overcome.<\/p>\n
Revenues reached almost 4.84 billion euros in 2021-22, landing just short of the record of nearly 5.07 billion in 2019-20. <\/p>\n
Spanish clubs’ investment in players rose slightly to 576 million euros from 547 million a year ago, but was well below the 1.53 billion splashed out the season before.<\/p>\n
However, the amount of money spent on infrastructure jumped to 430 million euros, exceeding pre-pandemic levels.<\/p>\n
That included investment by Barcelona to renovate the iconic Camp Nou stadium and its surroundings.<\/p>\n
Last month, the club secured a financing deal worth 1.45 billion euros with 20 investors, including Goldman Sachs and JP Morgan, after having renegotiated the initial terms.<\/p>\n
Barcelona will finish repaying the debt six years earlier than previously agreed and the new deal includes additional refinancing and interest rate risk for the club.<\/p>\n
Barca have been trying to improve their troubled finances by turning assets into cash and bringing in new sponsors. <\/p>\n
($1 = 0.9051 euros)<\/p>\n
\n(Reporting by Andrei Khalip, editing by David Latona; Editing by Ken Ferris)<\/p>\n
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