2023-11-28 21:38:00
The record balance presented by River Plate
River Plate once again marked a milestone in the history of Argentine football. The champion of the Professional League and qualified for the final phase of the League Cup presented this afternoon the numbers of a shocking balance corresponding to the 2022-2023 period, in which it obtained a record surplus of 52.3 million dollars.
In this way, under the management of Jorge Brito as president, those from Núñez surpassed last year’s historical mark by 2.5 times, being the fourth consecutive year with a positive result and the third with a continuous increase. Furthermore, it is the first year with a positive operating result without counting the sale of players.
Despite having an inflation of 124.17 percent and a devaluation of 152.29 at the national level, he obtained an increase of 178.10 percent in his net worth, with a total of 51,507 million pesos. This comes out of a total asset of 103,232 million (17,835 current assets and 85,397 non-current assets) and a liability of 51,725 (32,239 current liabilities and 19,486 non-current liabilities). It is worth remembering that the net equity for the year corresponding to 8/31/22 was 18,521 million pesos. One of the keys to this growth is the increase in resources above the inflation line.
River Plate presented a historic balance with more than 52 million dollars of surplus
Without counting the sale of footballers, the main income for the club today is the membership fee, another third from marketing and commercial agreements and the remaining third from ticketing. Television? “In Brazil and Europe it means a third of their income, here it is four percent,” they confessed to this site.
In the Millionaire they gave three aspects as fundamental axes: income, expenses and investments. In the first area there was an exponential increase, with a historical record of members in the club (a record number in Argentine soccer and top worldwide) with 350,653. This shocking number leaves the institution with an amount close to 40 million dollars per year.
More income from ticketing, as all matches had sold out capacity at the Mâs Monumental (84,567), sponsorship agreements were improved and the transfer of players trained at the institution was greater than 46 million dollars.
As a result of the renovations to the playing field and stadium, a new line of income was also produced, such as rental for international and national shows. To this we must add the naming of the stadium and a new restaurant inside the Monumental.
In expenditures, however, the most significant changes were the reduction of almost 4 percent in operating expenses compared to the previous period, a reduction of more than half of financial costs and a positive foreign currency exposure (credits vs. passive).
“River reinvests all its profits in a virtuous circle that allows it to continue improving future results and improve facilities for members, fans and athletes,” the club explained.
The president of the club, Jorge Brito, with Messi
For example, during 22/23, Núñez’s entity invested the shocking sum of 98.9 million dollars. And if the 53.1 from the previous period are added, the figure rises to 152 million of the US currency in two years.
This balance includes a total of 45.9 million dollars for the works carried out in the stadium, 11 million for improvements within the club, 8.2 for youth soccer and 33.8 for the acquisition of players to have one of the best squads in South America.
An image of the balance sheet detail
It is worth noting that in El Millonario there are still four installments to be collected for Enzo Fernández and almost 70 percent of Lucas Beltrán. As a result of the current Argentine economic situation, as a result of the different exchange gaps, it is beneficial for clubs to be paid in installments rather than all at the same time.
On the other hand, the Núñez institution is not satisfied and aims to carry out several important works (in addition to the final details in the renovated Antonio Vespucio Liberti) in the short term, such as the ESMA property (it is planned to invest approximately 5 million of dollars for a training center to train the club’s future soccer players), a covered sports center inside the club (it will be located near the palette fields, on Udaondo Street), the work of the River Plate institute, reforms in the members’ changing rooms, the new pool, the external barbecue areas. “There will be a significant investment for the partner,” they told Infobae.
“This balance is the consolidation of an efficient management model of a non-profit civil association. The extraordinary result obtained allows us to continue an unprecedented investment process in our Club, which in the last two years has exceeded 150 million dollars allocated to the renovation of the Stadium, new works for our social and sports club, and our professional and training football team. . This strong investment process generates a virtuous circle that boosts our income and allows us to have a sustainable club, with great potential to continue growing year after year,” stressed Andrés Ballotta, treasurer of River Plate.
It is worth highlighting that the institution no longer has overdue debts with other institutions. “This year we have tried to advance undue debts in dollars, and we pre-paid them,” they confessed.
Furthermore, El Millonario has been the “home” of the world champion Argentine team for years. For each match held at the Antonio Vespucio Liberti, the club receives 10 percent of the match’s turnover. He also received money from FIFA for his footballers who performed in the 2022 Qatar World Cup.
With the new statute, Núñez will also seek to take a new step in the future with the implementation of financial Fair Play. “The approved budget for professional football cannot be exceeded by more than 50%, and if the club has financial debt, said budget cannot be exceeded by more than 25%. In order to follow the good customs of the International Financial Fair Play, and that the club does not enter into a default for an excessive investment in professional football without prior approval, these percentages will be placed as a limit. The objective is that the club does not have financial solvency problems, since if it does, it could receive fines, bans or points deductions from FIFA, which seriously harm it. In the event that the management needs to exceed its budget for professional football by more than 50%, it must have the approval of the Assembly of Member Representatives,” they explained to this site at the time.
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