Corona virus causes Roma club losses of more than 200 million euros

Italian football club Roma recorded more than 200 million euros in losses during the fiscal year that ended on June 30th, especially due to the consequences of the "Covid-19" pandemic, according to a document published by the capital club today.

"At the unified level, the losses for the fiscal year 2019-2020 are estimated at 204 million euros," the club said, revealing preliminary figures at the request of the Italian stock market regulator.

And American businessman Dan Friedkin bought Roma this summer from his former owner James Pallotta, in a deal estimated at about 600 million euros.

Although the Italian club was in a difficult situation before the new Corona epidemic, the health crisis and its consequences for sports competitions, transport rights, sponsorship and the transfer market, made things worse.

The club added in its document published on its official website that "despite the measures taken to mitigate the consequences, this state of emergency, which is extraordinary in nature and size, had and still has major repercussions on the group's economic activities, which led to the creation of a general state of suspicion."

To avoid more losses, the club, like others, negotiated a financial agreement with the players and the coach of the first team, so that they gave up their salaries for four months (from March to June), which allowed saving about 30 million euros.

The club pointed out that it made financial gains during the summer transfer period, which ended Monday, with a value of 13 million euros, especially thanks to the sale of the French Gregoire Devrell (Sassuolo) and Maxime Gonlons (Granada), Serbian Alexander Kolarov (Inter Milan) and Czech Patrick Schick (Bayer Leverkusen).

The European Club Association, headed by Juventus President Andrea Agnelli, had estimated in early September that the "Covid-19" epidemic could reduce European club revenues by about 4 billion euros, affecting the 2020-2021 season even more than last season.

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