Roma have announced a loss of €42m for the 2016-17 budget, an increase from €14m last year.
The Giallorossi are looking to build a new stadium in the Tor di Valle area of the city, and renegotiated loan arrangements from Goldman Sachs and Unicredit, which were approved in June.
Today the financial results for 2016-17 have been released, with a loss of €42m, a significant increase on the €14m loss from the last set of results.
Roma have announced a loss of €42m for the 2016-17 budget, an increase from €14m last year.
The Giallorossi are looking to build a new stadium in the Tor di Valle area of the city, and renegotiated loan arrangements from Goldman Sachs and Unicredit, which were approved in June.
Today the financial results for 2016-17 have been released, with a loss of €42m, a significant increase on the €14m loss from the last set of results.
However, the interim results showed a €53m loss, which has been improved slightly in the final results.
It’s noted that the results were “affected by the failure to participate in the group stage of the 2016-17 Champions League” causing a decrease in revenue “essentially due to the lower profitability of the UEFA Europa League”.
The net loss for the Lupi’s parent company, AS Roma SpA is estimated at €36m, up from €10.4m this time last year.
There has also been an increase in net financial debt, up to €192.5m from €170.3m, though this is explained by the debt renegotiation approved in June.
The club’s directors point out that this renegotiation “allowed an increase in the line of credit amounting to €68.6m, on the same terms and conditions provided for in the original loan agreement”.
The figures will be officially approved by the board at a meeting on October 4, with another meeting on October 26 to approve a €120m increase in capital to help with running costs.
Given that Roma are in the Champions League this season, a “significant improvement” is expected in the 2017-18 figures.
However, it’s noted “financial results will continue to depend heavily on the performances in the competitions in which the team is engaged”, as well as transfers made during the financial year.