Real Madrid Faces Scrutiny Over 35 Million Euro Basketball Losses Ahead of Assembly
Real Madrid faces mounting financial scrutiny over a 35.1 million euro operating loss in its basketball section and a negative result in its women’s football structure, abc.es reported.
The figures emerge from the club’s financial accounts for the 2025–2026 season, which will be submitted for approval at the upcoming Assembly of Representative Members on November 21.
The basketball section generated 27.4 million euros in revenue against 61.7 million euros in operating expenses. That dynamic created the 35.1 million euro deficit, requiring the club to use general revenue to sustain operations. While no one disputes the historic titles of the section, abc.es noted that accepting a deficit of that magnitude without detailed questioning remains contentious among members.
Senior Team Profits Fail to Offset Academy Deficits
The women’s football division presents a more nuanced financial picture when separated into its constituent parts. The senior first team recorded a positive operating result of 1.9 million euros, according to the financial report. However, the youth academy registered a negative result of 2.7 million euros, bringing the overall operating result for the women’s structure to a negative balance of approximately 785,000 euros.
Stadium Construction Costs Reduce Cash Reserves
The club’s broader financial health shows operating income of 1.221 billion euros and a net profit after tax of 26.3 million euros for the 2025–2026 term. Cash reserves experienced a sharp decline over the twelve-month period. In June 2025, the club held 175.8 million euros in cash, but that figure fell to 82.8 million euros by June 2026—a drop of approximately 93 million euros.
Part of that liquidity drain ties directly to the Santiago Bernabéu stadium project. During the fiscal year, the club paid 87 million euros to suppliers for ongoing construction works, bringing the cumulative stadium investment to 1.408 billion euros. With the specific 1.170 billion euro loan fully utilized, ordinary cash reserves were tapped to cover renovation payments.
Short-Term Credit Lines and Working Capital Pressures
The financial documents also detail 475 million euros in available credit lines, with 400 million euros carrying short-term maturity dates. Financial analysts emphasize that available credit lines do not equate to cash reserves. The club also carries a negative working capital of 308 million euros, indicating that short-term obligations exceed current assets.
Financial expenses reached 51.2 million euros during the exercise. While the external audit conducted by EY issued a favorable opinion without qualifications, abc.es reported that a clean audit does not eliminate the right of members to question management decisions regarding liquidity management and debt obligations ahead of the November 21 meeting.
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