Atletico Madrid’s busy transfer window has paid off as the club has announced it expects a revenue increase of 27% for the 2019/20 financial year.
The La Liga side, who lost star players such as Antoine Griezmann, Rodri and Lucas Hernandez, were one of the busiest clubs in this summer’s transfer market as they looked to replace up to nine first team players.
Miguel Angel Gil Marin, Atletico’s chief executive, commented on the window, stating:
“We had to reinvent ourselves, the exits of Lucas, Griezmann and Rodri have made us make very risky decisions and we have suffered because of buyout clauses.
“A cycle which ended for a number of players came at the same time, some players wanted to leave and others didn’t but they did anyway. [Diego] Godin, Juanfran and Filipe [Luis] have all left and we’ve had to live through a generational change.
“We have had to change nine of 20 players, that isn’t easy to do.”
The club received over €300m in transfer fees and spent less than €250m replacing the departures, most notably bringing in Portugese youngster Joao Felix for around €120m.
The profits made in the transfer market no doubt aided Atleti’s increase in revenue, with Marin revealing the club is expecting to register a revenue of €515m – these figures have been released despite the official accounts for the 2018/19 season having not yet been submitted.
As well as generating income from the selling of players, Atletico also raised approximately €182 million in the sale of its previous home stadium, the Vicente Calderon.
Marin continued: “Our income in ten years has gone from €100 to €500 million and we have put that mainly down to our team. 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.”
Marin’s announcement comes shortly after Atletico gained permission to bring forward plans to build a ‘soccer city’ next to the Wanda Metropolitano Stadium, a vision which is set to cost around €59.6m.
Atletico last won La Liga back in the 2013/14 season and currently sit in seventh place but only one point off the top. The Spanish giants are next in action tonight when they go away to RCD Mallorca.