July 2016 to March 2017 accounts released

Sporting Clube de Portugal – Futebol, SAD has presented its results for the period running from the 1st of July 2016 to the 1st of March 2017. SAD can boast its best turnover ever, with 138.8 million euros, supported "by a growth in all revenues and the two biggest sales of sports rights ever - João Mário for 40 million euros and Slimani for 30 million euros, with these amounts possibly increasing based on objectives. This turnover has provided a positive result of 35.089 million euros for the period", as noted in the latest financial overview.

Vice-president Carlos Vieira speaks with Sporting TV about the Alvalade accounts

Sporting CP vice-president Carlos Vieira sat down with Sporting TV this week, to speak in an extensive about the club's finances.

"Sporting CP's accounts are well balanced. We haven't been left wanting for anything recently, especially in relation to football", opened Carlos Vieira, before reflecting on the financial performance of previous boards of directors: "The problems that accumulated in the past have been identified and with financial restructuring we have managed to address them in the long term. We are now in a position to invest, which is what we have been doing. We are working hard on our sports performance and everything that comes with football. In December we agreed a television rights deal and we are producing players who will bring in profit. We are perfectly comfortable with where we are now and were have been praised by UEFA."

Another issue touched on by the Alvalade vice-president was the transfer of Islam Slimani. "On the 30th of July we had a squad which was valued at 32 million euros and in August we sold a player for 30 million euros. You can see exactly what is wrong there. Slimani was valued at 100 thousand euros and the players we produce are valued at nothing. Sporting CP's squad is valued at 32 million euros, Benfica's at 115 million euros and FC Porto's at 91 million euros, but the actual market value of our squad is nearer to 160 million euros."

Transfer of João Mário and Slimani set new transfer window record

Sporting SAD smashes sales records this August, with the most valuable sale in the history of the Portuguese League and Sporting's second biggest ever transfer seeing the club set a new high in terms of transfer revenue in a single season.

The result was made possible by a solid investment in the squad and technical staff, giving the club a stronger negotiation capacity and allowing for the agreement of television and sponsorship deals.

Sporting's net results for June 2016 were conditioned by three factors: investment in the squad and technical staff, seeing an increase in personnel costs by 23.725 million euros; the Doyen process (without which the result would have been -16.914 million euros); and not qualifying for the Champions League. The overall net result for Sporting SAD for the 2015/16 season was -31.905 million euros, compared to the 19.333 million euros for the previous period. The sales of João Mário and Islam Slimani, which totaled around 54 million euros, will only be accounted for in 2016/2017.

Additionally, the results for the period were affected by provisions for debts with banks and the early amortization of capital as part of an agreement with Novo Banco and Millennium BCP.

Operational revenue up by 10 million euros

Operational revenue increased significantly, closing at 68.750 million euros (compared to 58.382 million euros from the previous period), due largely due to increased ticket sales (14.198 million euros), television rights (24.809 million euros) and other revenue (11.366 million euros).

Transfer fees for players stood at 7.716 million euros, due largely to the transfer of Fredy Montero and Valentin Viola.

In terms of equity capital, a variation of 31.997 million euros was registered, which will be mitigated in the 2016/2017 season with the above noted transfers of João Mário and Islam Slimani. Passive debt increased by 20.796 million euros, due largely to the Doyen process.

The period has seen a dramatic improvement in sports results, which will reflect in terms of revenues. Sporting SAD is determined to create a balanced environment in which sports success can be guaranteed and revenue kept positive.