Atletico Madrid's financial crisis worsens, club's debt reaches all-time high at €999m

Spanish giants Atletico Madrid have made a scintillating start to LaLiga campaign as y sit second in league table, ahead of Barcelona and Real Madrid. Despite ir splendid form on field, Wanda Metropolita outfit have endured considerable financial struggles, with a report this week revealing that ir debt levels have reached an all-time high amid coronavirus pandemic. 

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Atletico Madrid debt estimated at €999m

According to a report by Goal, Atletico Madrid's debt has reached €999 million, an amount club has reached for first time in history. report claims to have accessed official documents on Atletico Madrid's finances, with debt rising from €980 million over course of previous season. 

report also sheds light on depreciating turver of club amid pandemic. Atletico Madrid turver has fallen down by €32 million to a net figure of €325.3 million. Meanwhile, Rojiblancos earned €100.5 million through revenue, a steep decline of €7 million from previous season's earnings.

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Atletico Madrid finances worsen amid lack of clarity on transfer activity

Interestingly, a huge part of  €999 million figure is being owed to long-term debts that club accrued due to construction of Wanda Metropolita. Being just €1 million shy of touching  €1 billion mark sheds light on club's mismanment of finances. 

Atletico Madrid have been spending heftily over past couple of seasons. However, it remains to be seen if Atletico Madrid CEO Miguel Angel Gil Marin curbs Diego Simeone's transfer budget, having already roped in likes of Luis Suarez and Lucas Torreira last summer. 

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Atletico Madrid beat Barcelona to sit second in LaLiga standings 

Atletico Madrid defeated Barcelona last weekend to stay put at second in LaLiga standings, trailing by three points to Real Sociedad. Yannick Carrasco scored only goal of match in extra time of first half. Simeone's men next host Lokomotiv Moscow in Champions League at Wanda Metropolita, with game slated to be played on Wednesday. 

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Im courtesy: Atletico Madrid Instagram