FC Porto expected to receive a significant portion of its box office revenues over the two upcoming seasons in order to have money for everyday bills.
For many years, SAD Porto has used lending operations to provide liquidity in the present, providing in exchange for future revenues from television rights, Porto channel broadcasts, the economic rights of players in a team or European competition prizes. Revenue from ticket sales was also included, but this season’s first half report included the time period in question for the first time: “amounts received from the sale of annual seats for 2024/25 and 2025/26.” .
Half-yearly reports published a few days ago even show a decline in the amount of debt on “factoring” (advancing income with interest) and commercial paper from 174.7 million euros to 112.6 million euros between June and December 2023. over the same period, total funding (including bank and bond loans) also fell from €303.5 million to €218.6 million.
The problem is that not only is the cost of credit rising (the average annual rate on bank and bond financing increased from 6.03% to 6.46% per year), but also the reduction in advance amounts is indirect. Last month, after closing its half-year accounts, SAD advanced a further €54 million for television rights and reached the June 2027 cap.
With most of the operating income pledged, FC Porto’s treasury is under pressure. In May, SAD usually allocates the Champions League entry prize (€29.9 million in 2022 and €37.5 million in 2023) to pay expenses for that month, June and July. If the millionaires league fails (only the champion has access, and the team that takes 2nd place gets into the qualifying rounds), the only solution for the “dragons” will be to sell the players.
Wendell is only in the gym, and Varela could miss the start of next season
Returning to practice after a day off, Wendell’s situation was no different this Wednesday. The left-back returned to treatment and training in the gym. Taremi trained in an integrated, conditional way. This Wednesday it became known that Alan Varela risks missing pre-season training and the first official games of the 2024/25 season, as he could represent Argentina at the Olympic Games in Paris.
Returning to practice after a day off, Wendell’s situation was no different this Wednesday. The left-back returned to treatment and training in the gym. Taremi trained in an integrated, conditional way. This Wednesday it became known that Alan Varela risks missing pre-season training and the first official games of the 2024/25 season, as he could represent Argentina at the Olympic Games in Paris.
Author: João Moniz
Source: CM Jornal
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