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 the LaLiga campaign as they sit second in the league table, ahead of Barcelona and Real Madrid. Despite their splendid form on the field, the Wanda Metropolitano outfit have endured considerable financial struggles, with a report this week revealing that their debt levels have reached an all-time high amid the 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 the club has reached for the first time in history. The report claims to have accessed official documents on Atletico Madrid's finances, with debt rising from €980 million over the course of the previous season. 

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

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Atletico Madrid finances worsen amid lack of clarity on transfer activity

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

Atletico Madrid have been spending heftily over the 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 the 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 the LaLiga standings, trailing by three points to Real Sociedad. Yannick Carrasco scored the only goal of the match in the extra time of the first half. Simeone's men next host Lokomotiv Moscow in the Champions League at Wanda Metropolitano, with the game slated to be played on Wednesday. 

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Image courtesy: Atletico Madrid Instagram