Atletico Madrid projecting €515m in revenue for 2019/20

Atletico Madrid projecting €515m in revenue for 2019/20
Spanish soccer giants Atletico Madrid are projecting €515 million (US$565.7 million) in revenues for the 2019/20 financial year, an increase of 27 per cent.

The LaLiga club’s Chief Executive, Miguel Angel Gil Marin, revealed Atleti’s financial progress despite the fact official accounts for 2018/19 have not been submitted. They were expected to record revenue growth of 21.5 per cent up to €355 million (US$389.9 million).

The 2017/18 season closed with a 13 per cent increase in revenue, up to €292.16 million (US$320.9 million), despite the team’s early elimination from the UEFA Champions League.

"Our income in ten years has gone from €100 to €500 million and we have put that mainly down to our team," Gil Marin told Spanish press. "It was a very risky strategy but we have gone from 23rd to second in the UEFA rankings.

"Those two Champions League finals put Atletico Madrid on the map, and we aren't giving up on our goal of winning the competition, we will continue to fight."

Much of that income growth is being attributed to player sales, with Antoine Griezmann, Lucas Hernandez and Rodri all leaving the club in the summer for a combined figure around €270 million.

Gil Marin’s announcement comes shortly after Atletico gained permission to push forward with plans to build a €59.6 million (US$65.7 million) soccer city next to their Metropolitano Stadium.

Atletico will be solely responsible for handling the investment, while also having exclusive use of the facilities.

The sale of the site for Atletico’s previous home, the Vicente Calderon Stadium, back in July also saw the club raise approximately €182 million (US$200 million).

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