The president of Real Madrid has summoned the board following his return from New York to review the provisional closure of the accounts for the 2025-2026 season, which carry a deficit of €70 million.
Florentino Pérez has returned to Spain and urgently called the Real Madrid board. The meeting, taking place this Tuesday, aims to primarily analyse the provisional closure of the accounts for the 2025-2026 season, which show a deficit of €70 million, according to sources close to the club.
The white president, who has just been re-elected for the next four years after winning the elections on June 7 against Enrique Riquelme, had travelled to New York after the elections. There, he held high-level professional meetings related to his intention to partially sell the club and underwent medical check-ups, all with positive results.
The accounts of Real Madrid have been strained by high spending on signings. So far this season, the club has invested €90 million in the signings of Cucurella, Dumfries, and Mourinho, a figure that could exceed €200 million if the signing of Yan Diomandé from RB Leipzig goes through. This is in addition to the €167 million already spent in the previous season.
According to the club's own half-year report, the revenue was €571 million, €18.5 million less than in the same period of 2024. This reduction is explained by lower sales in stores and the suspension of concerts at the Santiago Bernabéu due to legal issues with neighbours. Net profit has fallen from €29.4 million to €5.2 million.
Internal sources warn that the numbers have worsened in the second half of the fiscal year, which closed on June 30. The €70 million deficit forces the club to readjust its forecasts, which initially estimated profits of €10.1 million, compared to €24.3 million in the previous season. The increase in costs has overshadowed the €63.5 million rise in revenue.
One of the keys to stabilising the accounts is the accounting of the sales of VIP boxes, known as Personal Seat Licences (PSL), for around €75 million. This is the same lever that the club used in the 2023-2024 season and which FC Barcelona later copied.
Personnel expenses have also increased significantly. Florentino Pérez had estimated a 13% rise in the cost of the first football team and a 26% increase in basketball. Non-sporting personnel expenses have risen by 4.5%, influenced by inflation and the increase in people dedicated to revenue generation and stadium management. Additionally, the cost of Social Security has grown by 35% due to a new tax that levies the part of the salary that exceeds the maximum annual contribution base. This tax, with progressive rates, will increase annually until 2045, so the club expects this item to continue rising in the coming years.
Another issue expected to be addressed by the board is the update of the plan to sell up to 10% of the club, an operation announced more than two and a half years ago by the president. The partial sale would allow Real Madrid to obtain liquidity and reduce its debt, although the operation has yet to materialise.
For Real Madrid fans, the club's financial situation may have consequences for sports planning. If the accounts cannot be balanced, future investments in signings and the ability to retain star players could be affected. The board is working against the clock to present accounts that reflect the original budget and avoid a larger hole.
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