If last year's balance had been the best in the club's history, the current one can be described as super historic. River's financial year between 2022 and 2023 resulted in a surplus of 52.3 million dollars and was unanimously approved at the Board of Directors meeting on Tuesday evening.
The result of this balance sheet is 2.5 times higher than that of the 2021-2022 financial year, which had been 20.6 million dollars. The staggering $52.3 million was achieved primarily by an exponential increase in revenue and due to a favorable balance between expenses, receipts and investments, which grew equity by 178%. At the same time, there was a reduction of almost 4% in operating expenses compared to the previous period. And it also lowered financial costs by more than 50%.
Apart from this superlative number, River's management also considers the importance of highlighting an "unprecedented" investment process that took place in the last two years, of US$152 million, which includes the remodeling of the Monumental (US$65 million), the works and improvements in the club (US$13.4 million), the acquisition of players (US$55.7 million) and youth football (US$16.8 million).
This important injection of money allows River to boost the existing revenues already mentioned (social fees, ticketing, and commercial-marketing, which represent three thirds of the club's income, not counting the sale of players) and generate others (naming, concerts, restaurant) to reinvest them in works (in addition to the completion of the stadium, it is expected to allocate US$5.5 million in the new land obtained next to the stadium to the former ESMA, and next to the Monumental will be built an indoor sports center, the new building of the Institute and the new swimming pool, among others).
THE BEST BALANCE SHEET IN RIVER'S 📈
HISTORY The 2022-2023 accounting year showed the best balance sheet in the Club's 122-year history, with a surplus of $52.3 million. pic.twitter.com/DF1Ry0qMfk
— River Plate (@RiverPlate) November 28, 2023
River achieved a historical record of members in the club and in Argentine football, with 350,653 active members, which generates 40 million dollars in one year; the largest ticket holder, as more than 84,46 people attend the Monumental per game; better sponsorship agreements and the transfer of players trained in the institution for more than <> million dollars.
At the same time, another of the highlights of this balance sheet is that it is the first with a positive operating result without counting the sale of players. In other words, if the transfers of Enzo Fernández and Lucas Beltrán had not taken place, it would have been in surplus in the same way. In addition, for the fourth year in a row, it paid in favor.
Juan Pablo Susse, financial manager, and Andrés Ballotta, treasurer, summed up River's "best balance sheet in 122 years". Photo: River Press.
"This balance is the consolidation of an efficient management model for a non-profit civil association. The extraordinary result obtained allows us to continue an unprecedented investment process in our club, which in the last two years exceeds 150 million dollars allocated to the renovation of the stadium, new works for our social and sports club, and our professional and youth football team. This strong investment process generates a virtuous circle that boosts our income and allows us to have a sustainable club, with great potential to continue growing year after year," said treasurer Andrés Ballotta at a press conference in which Clarín participated, after presenting the results of the balance sheet together with treasurer Ignacio Amui and Juan Pablo Susse. financial manager of the club.
Andrés Ballotta, River's treasurer, in an excerpt from the conversation with journalists. Behind, Ignacio Amui, the club's treasurer. Photo: River Press.
And all three agreed that the result of the balance sheet "is not the picture of the last year, but is the product of a management model that has been efficiently managing the club for a decade".