AS: Espanyol turn a profit for the first time in five years thanks to transfer of Juan Garcia

The Spanish media "AS" reported that the Spaniard achieved profitability for the first time in five years, mainly due to the transfer of Juan Garcia.

With only one week left before the upcoming shareholder meeting, power will be transferred from Xinghui Group to the new board of directors led by Alan Pace. At the same time, the last complete financial report of the Chen Yansheng era began to be released one after another. This financial report will be approved at the meeting, corresponding to the settlement of the 2024-25 season, and it also brings good news.

The Espanyol team achieved profitability for the first time in five years, with a net profit of 2.2 million euros. This was mainly due to the transfer of Juan Garcia to Barcelona after paying a release fee of 26.4 million euros. The last time the club made a profit was back in the distant 2019-20 season. Ironically, that year they were relegated to the Spanish Second Division for the first time, but by virtue of qualifying for the Europa League, they finally received a profit of 9.1 million euros.

However, according to a detailed article in the professional portal 2Playbook, negative growth is expected again this season, and this time the loss is much lower than the 67 million euros accumulated between 2020 and 2024. This is due to the "acquisition of players' economic rights", that is, signings.

Another major factor in last year's trend change was promotion, as Espanyol were still competing in the Spanish Second Division in the 2023-24 season. This explains why Espanyol's revenue increased by 71% from 39.73 million euros to 68.1 million euros, a large part of which came from TV revenue (44 million euros), although commercial revenue (12.7 million euros) and season ticket and single-day ticket revenue (11.4 million euros) also increased.

For the Spaniard, there is another good news after the new owner took over: as of June 30, the club's financial debt was quite low. The remaining 35 million euros mainly come from the CVC fund (funds shared by all clubs), and only a small part is a loan provided by Rastar to cover the daily expenses of the Espanyol club.

For the Spaniard, another major good news after the new owner took over is that as of June 30 last year, the club's financial debt was quite low. Most of the total debt of 35 million euros belongs to the La Liga CVC assistance fund shared by the club, and a small part is the credit provided by Xinghui Group to pay for the daily operations of the Espanyol team.