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LaLiga on Monday presented its financial report for 2019-2020 season, in which the total income of the Spanish football division achieved a new historical record despite the negative effects of the COVID-19 pandemic.The total income of LaLiga was EUR5,045 million in 2019-2020 season , +3.6 per cent compared to 18/19. "Although this figure could have been EUR5,321m (+ 9.3 per cent) without the impact of COVID-19 according to estimates by PwC. Additionally, the average cumulative long-term growth in each of the last five seasons was +12 per cent, a figure that is worth even more when compared to other sectors and companies: IBEX35 companies, for example, decreased by -1.4 per cent on average in the last five years," an official release by LaLiga stated.Compared to the other major European competitions, LaLiga is the only one that made a profit (EUR77m Net Result) and continues to be the leader in income on a demographic and price level equality comparison basis (EUR107 per capita).In terms of total expenses, the cost and amortisation of sports staff continues to be clubs' largest outlay, having risen to 60 per cent in 19/20, two points more than in the previous season, compared to the cost of non-sports staff, which remained stable at 5 per cent."Spanish professional football can boast resilient high-level profitability, with positive operating profitability despite the impact of COVID-19. EBITDA after transfers of players exceeded EUR1,000 million (EUR1,196 million without COVID according to PwC), thanks to the significant effort of the clubs in containing costs," the release added."LaLiga maintains a great capacity for investment and a sustainable level of indebtedness (NFD/EBITDA of 1.63x), thanks to strong profitability levels. In this sense, net financial debt increased to EUR745 million, mainly resulting from net investments of EUR509 million. Of the total invested, 84 per cent was for players and 16 per cent for infrastructures."The pandemic broke out when the bulk of the investments had already been made or committed to in the 19/20 season. A drastic reduction in this will be seen in 20/21 as well as a decrease in the capital employed (NPA)/total income ratio -currently at extraordinary levels. The investment data shows that LaLiga generates talent that is sold abroad, affording us the possibility of reinvesting in more talent and infrastructures," the Spanish league pointed.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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LaLiga on Monday presented its financial report for 2019-2020 season, in which the total income of the Spanish football division achieved a new historical record despite the negative effects of the COVID-19 pandemic. ...