Galo releases a half-yearly report with a surplus of R$49 million; see details

In order to have a more transparent management, Galo detailed some economic and financial processes of the club

The new board of directors at Atletico seeks to provide more and more transparency to the club and this more open profile is especially true when it comes to Galo’s finances. On the afternoon of this Friday (10), Atlético released an economic-financial report for the first half of 2021. In it, the club presents its achievements in the semester, compared to the previous year, and points to a surplus of R$44 million.

“Since he took over the management of Clube Atlético Mineiro, the board led by President Sérgio Coelho and his vice-president José Murilo Procópio, has worked tirelessly to make Galo a leading club on the national and international scene, without its sporting and governance performance, with a focus on transparency, integrity and good economic and financial management”, writes the club at the beginning of the report.

According to the club, in the first half of 2021, Galo had a surplus of R$49 million, payment of 90% of its debt with FIFA, stabilization of the indebtedness level, reduction of short-term indebtedness (accounts payable, loans and financing), reduction in general expenses, growth in recurring revenues with improved sports performance and brand appreciation, among other positive points.

In the report released, Atlético cites some milestones of the 2021 season on the field, such as the conquest of Mineiro by the men’s team, the good performance in the Campeonato Brasileiro, Libertadores and Copa do Brasil. Outside the pitch, Galo also mentions some positive points of the season, such as the creation of Galo Business Day, an event to deal with the club’s business in a more transparent manner and the growth in the number of sponsors.

In the first half of 2021, the club’s gross operating revenue was R$203.825 million. The net amount, which includes tax, contributions and arena rights discounts, is R$193.367 million. However, with operating costs, Galo spent R$213,090 million.

One of the points highlighted by the club in the report was the reduction of debts at FIFA. Atlético managed to repay 90% of the amount by June 30, 2021. Until the last day of 2020, Atlético had R$70 million in debt at FIFA.

The good moment experienced by the male professional cast was fundamental for the club’s revenue. Compared to the second half of 2020, Galo more than doubled the amount collected. From R$60.6 million to R$133.3 million. The third place won in the Brasileirão last season, which ended only in February, earned the club almost R$40 million in awards.

In addition to making money directly into the coffers, the good performance of the squad was also important for the players’ appreciation. In the second half of 2020, Galo signed six players and ended the year with the squad valued at R$630 million. In the following semester, the number reached R$930 million, an increase of 48%, with the arrival of another four reinforcements.

With a better organization of finances, it was also possible to increase the investment made in the female professional team and in the male base. In the last half of 2020, Galo was Minas Gerais champion with women and, for 2021, the club increased the amount invested by 52%. For boys, who were champions of the Brazilian under-20, the increase was 37%.

THE TIME reinforces the commitment to Minas Gerais, professional and quality journalism. Our newsroom produces responsible information on a daily basis that you can trust.

follow THE TIME on facebook, on Twitter and on Instagram. Help grow our community.