Benfica returns to profit after selling Goncalo Ramos

The incarnation of SAD slightly increased advertising, television and ticket revenues, but did not offset the €9 million drop in UEFA prize money (from €52.4 million to €43.4 million). Thus, operating profit decreased to 106.4 million euros.

Because more money was spent on materials and personnel (€62.4 million instead of €60 million), operating costs increased to €110.8 million. This results in an operating deficit of €4.4 million, in addition to a negative impact on financial results of €6.1 million.

This €10.5 million hole was only compensated by €28.5 million from player transactions. Gross player sales were just over €80 million, but after discounting associated costs (such as fees, book value and third party rights) and adding the share of players on loan, the transfer market generated €56.9 million net. This amount was deducted from €28.4 million for the amortization of player transfers.

The result was a final profit of €18 million, a third of Sporting’s €58.6 million and just over half of Porto’s €35 million in the same period.