September 20 – Serbia’s Red Star Belgrade has announced record revenue of €92 million since the start of the year.
The revenue figure was announced by general manager Zvezdan Terzic (pictured). Terzic took over the management of Red Star in 2014, and since then the club has seen a steady increase in revenue.
Terzic said that the club’s annual budgeted spend is about €65 million.
“When I arrived in 2014, we had a budget of eight million per year and we used that to pay back old debts. To make these results, Red Star Belgrade needs €65 million a year. We made a record income this year,” said Terzic.
“So far, from January 1, 2024, we earned €92 million. Our income is clear, transparent, and available to everyone. This year, we received €42 million from players who we sold and €28 million from UEFA bonuses.”
Terzic stressed that Reds Star has invested heavily to get to the current position and that the football business is different from all the others.
“You can’t wait to find money and then buy players. You have to take risks because only a good sports result is a generator of big incomes. The biggest problem at the start was getting people to trust me and give me time. We managed that on our own, with a smart policy. I would like other clubs that do not understand the football business to follow our path, but we are here to help them and explain to them,” said Terzic.
The club currently operates an internal salary cap, but Terzic said that will soon be significantly increased.
“The salary cap for now is €1,250,000 per year, but we will grow as a club and it won’t be long before we pay the best players €2-2.5 million. You have to invest if you want to be part of such a spectacular competition as the Champions League.”
Red Star opened their campaign in the Champions League on Thursday with a 2-1 home defeat to Benfica.
Contact the writer of this story, Aleksander Krassimirov, at…
Source link : https://www.insideworldfootball.com/2024/09/20/red-star-belgrade-investment-pays-off-says-terzic-record-revenues-e92m/
Author : Paul Nicholson
Publish date : 2024-09-20 02:59:31
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