Real Madrid Reduces Budget For '20-21 By €300M

Real Madrid published its financial reports for both last season and this season "as the impact of the coronavirus pandemic begins to take hold" in its accounts. The club posted a "net gain" of €313,000 ($380,000) for '19-20, despite the impact of the pandemic. For the '20-21 campaign, the club's budget is €300M ($364M) less than it would have been in normal circumstances. The club "took extra measures to inject some cash" in April and May, taking out a five-year loan worth €155M ($188M) and receiving €50M ($60.7M) as part of a three-year credit policy. Real Madrid has invested €113.7M ($138M) into the redevelopment of the Estadio Santiago Bernabeu, which was brought forward while games were played behind closed doors (MARCA, 12/3).