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Finance Council gives 'green light' to Sporting's 2021/20 budget - Sporting

Finance Council gives ‘green light’ to Sporting’s 2021/20 budget – Sporting

The Financial Council (CF) of Lyon expressed a positive opinion on Sporting’s budget for the next season, stressing that it reflects the “doubts and difficulties” caused by the Covid-19 pandemic, namely the occupation of the fans in the stadiums and sports pavilions. .

“Although the situation is expected to improve compared to the previous season, the uncertainties and difficulties caused by the COVID-19 virus still exist and are reflected in the 2021/22 budget,” said the document Lusa was able to access.

The club stressed that “the procedures that will be implemented by the health authorities and the competent agencies in organizing competitions regarding the conditions for general assistance for games in stadiums and gymnasiums are not yet known,” and that “such a situation significantly increases the degree of uncertainty in preparing revenue and cost forecasts. club.

Sporting informed, Thursday, on its official website, that the budget for revenues, expenses and investments for the 2021/22 season, accompanied by the activity plan and the opinion of the football club, was submitted by the board of directors headed by Federico Varandas. , to the Board of Directors of the General Assembly (MAG).

The Lisbon club’s budget for next season expects revenues of about 21.2 million euros and expenditures in the range of 21.1 million euros, in line with last year, and with a positive net result estimated at 79.2 thousand euros, more than double the profit. 36,800 euros in 2020/21.

The club stressed that the administration’s proposed budget for the next season maintains “the policy followed in previous years, which translates into a prevailing bet on the use of athletes from the club’s formation, at the expense of the use of untrained athletes in the club, with much higher acquisition costs and wage costs.”

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Meanwhile, the board of directors chaired by Joaquim Baltazar Pinto noted “the need to reverse budgetary presentation modes involving cash flow [fluxo de caixa] Passive operation, which in this budget is about 3.9 million euros, because this is the only way to ensure the long-term financial viability of the club.”

In addition to proposing approval of the budget and the plan of green and white activities, the facilitating committee is also proposing a vote of commendation to the Board of Directors for the work carried out in the past period.