Napoli back in profit with €205m record revenues for 2018/19

Napoli back in profit with €205m record revenues for 2018/19
Italian top-flight soccer club Napoli have posted record revenues of €205.8 million (US$221.5 million) and a profit of €30.2 million (US$32.5 million) for the 2018/19 financial year, according to Italian media reports.

The reported figures show the Serie A outfit returning to profit having posted a loss of €6.4 million (US$6.9 million) after tax for 2017/18, while revenues were up more than €20 million (US$21.5 million) from €182.8 million (US$196.7 million).

A major contributor to the improved financial performance was through the sale of players, including the transfer of playmaker Jorginho to English club Chelsea for approximately €58 million (US$62.4 million) plus €7 million (US$7.5 million) in add-ons.

Income from player sales was offset by reported record staff costs of €135.14 million (US$145.5 million), while the amortisation of players reached €81.76 (US$88 million), also the highest amount in Napoli’s history.

In addition, Napoli’s turnover reportedly rose to €299.9 million (US$322.8 million) thanks to increased earnings of €24 million (US$25.8 million) from TV rights and capital gains of €53 million (US$57.1 million). According to reports, Napoli's business now accounts for 93 per cent of the consolidated revenues for FilmAuro, the ownership company of Club Chairman Aurelio De Laurentiis. That ratio is up from 87 per cent in 2017/18. 

Napoli are currently sixth in Serie A with 12 games left to play. The league remains postponed due to the coronavirus outbreak. At the time of writing, there were 59,138 reported cases in Italy and 5,476 related deaths.

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