Portugal: Benfica sports management unit reports 2020/21 net loss of €17.4M

The quoted sports management company of Benfica, Portugal’s biggest football club, on Thursday submitted to the securities markets regulator its results for the 2020/21 financial year, including a net loss of €17.4 million, as well as liabilities that increased by more than €53 million.

The accounts provided by Sport Lisboa e Benfica Futebol SAD to the CMVM also include a 32.8% decrease in operating income, as well as a decrease in income from the transfer of player rights, to €100 million, with the departure of Rúben Dias to Manchester City the most valuable.

In its statement, the SAD notes that the result was obtained “in a period of extraordinary complexity, subject to the impacts of Covid-19, in addition to the [clubs] non-participation in the [UEFA] Champions League and the strong investment made in the football squad.”

The club, which owns a majority of shares in the SAD, has scheduled elections for its president and other board members in October, following the resignation in July of Luís Filipe Vieira, after his detention in a case in which he and others are being investigated for business deals involving Benfica.