Sporting with a negative net result of 5.9 million in the first nine months of the season – Jornal Econômico

Sporting achieved a negative net result of 5.9 million euros in the first nine months of the 2018/19 season, the SAD of the lion emblem told the Securities Market Commission (CMVM) on Monday.

According to the report and accounts for the period between July 1, 2018 and March 31, 2019, today sent to the CMVM, the 'lions' registered 5.9 million net negative results, although they note that this number does not contemplate yet the agreement reached with Atletico Madrid by Gelson Martins.

The latter rescinded the club at the end of last season, leaving for the Spaniards, who agreed to pay 22.5 million, a figure in itself due to the acquisition of the half lions of the Vietto pass for 7.5 million.

In the highlights, the 'green and white' emblem elicits two other agreements, by William Carvalho with the Betis of 16 million and by Rui Patrício with Wolverhampton for 18 million, and the return of three players who rescinded without just cause: Bruno Fernandes, the Dutchman Bas Dost and the Argentine Rodrigo Battaglia.

Other notes present in the report relate to the conclusion "of the securitization operation of the NOS contract in March 2019", in addition to the extension of the completion of the bond issue, for November 2018.

Turnover rose 5% to 109.8 million euros, attributing this result to the "sale of sports rights" of players like Piccini and the agreements already mentioned.

Earnings and other operating gains were down 12.2 million euros, which gives the club not to have played in the Champions League, with participation premiums higher than the Europa League.

Operating expenses also decreased, particularly the decrease in personnel by 4 million, with total assets increasing by 37.1 million euros, while liabilities increased by 45.3 million.

In total, shareholders' equity remains negative at € 21.4 million, with increases in assets and liabilities due to "the securitization of credit completed at the end of the current quarter."

Regarding the January transfer market, which refers to the football team, SAD reports that it has invested 12.5 million euros in total, without detailing each business, only referring to the signings of Luiz Phellype, who stands out as "the best player of the II Liga ", of Tiago Ilori, Cristian Borja, Idrissa Doumbia, the return of loan of Francisco Geraldes and the hiring of Gonzalo Silver.

This investment is offset by "a reduction in the payroll, notably by repealing the employment contracts of players Nani, Montero and Luc Castaignos."

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