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ATLÉTICO MADRID

Atlético Madrid reduce tax debt to 45 million euro

Atlético Madrid reduce tax debt to 45 million euro

MACARIO MUÑOZ

DIARIO AS

Four years ago the outstanding debt was 205 million euro. The club’s budget for the forthcoming season is 194, 6 million euro.

Atlético Madrid have made considerable inroads in reducing their outstanding debt with the Spanish Tax Agency, reducing the total of 205 million euro (4 years ago) to a current debt of 45 million euro. The club’s objective is to completely clear the debt by the 2017-18 season when the club are expected to move to their new La Peineta Stadium. As part of the agreed re-payment plan the club makes a monthly payment to the tax office which they anticipate will be at zero come the end of the 2016-17 campaign.

This week, the club celebrates their annual board of directors assembly where it has been announced that the club generated a net profit of 13.1 million euro (after tax). This is an improvement of the 1.6 million euro profit which the club generated for the previous campaign. The club managed to increase revenue income whilst reducing spending by 0.64%, and forecast a budget of 194.6 million euro for the 2015-16 season.

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