The court authorizes the forces of Malaga to request a loan of 8.6 million
Málaga CF finds solutions to obtain liquidity. Andalusian club, via the club’s governor, Jose Maria Muñoz, This morning I received a mandate to formalize a credit policy of 8.6 million euros, As reported by the entity itself through a statement.
Malacitano club may return the balance through two different channelsThe first: in which you can capitalize the debt by purchasing shares from a third party or, on the contrary, paying off the amount owed.
In December, the Andalusian club made operating losses of 10.1 million euros in the 2019-2020 fiscal year ending on June 30, which contrasts with a positive result of 3.3 million euros in 2018-2019.
Malaga has requested two loans so far this season
For the current season 2020-2021, the entity’s budget decreased by 16% to € 13.2 million. More than half of the budget comes from television rights contracts, which account for a turnover of 7.4 million euros. However, Kayan expects to end the season with a loss of 2.3 million euros.
The club, which entered the competition in 2019, took a series of Measures to improve the club’s treasury for the 2020-2021 fiscal year. The provisions include canceling Al Thani’s salary or reviewing supplier contracts.
At the start of the month, investment group RedBird Capital, a Fenway Sports shareholder, acquired a package of 600 shares from the Andalusian club, giving a breath of fresh air to the liquidity of the Malaga entity, which has already requested two loans. Seasonal yet.
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