Belgian golf equipment proceed to bleed pink ink, racking up €160m of losses in 2024

Belgian golf equipment proceed to bleed pink ink, racking up €160m of losses in 2024

February 14 – Final 12 months, Belgian golf equipment registered mixed post-tax losses of €160 million with Walloon big Customary Liege exhibiting the most important operational loss. 

The Professional League’s annual monetary report has as soon as once more uncovered the monetary woes of Belgian soccer. Whereas the €160 million loss is an enchancment from a staggering €193 million deficit in 2023, the monetary administration at lots of golf equipment stays problematic.

Customary Liège is the membership with the very best losses. With a deficit of roughly €25.6 million, Customary’s whole debt has surged to €59 million. Final autumn, American homeowners 777 Companions departed the membership, however Customary has struggled to search out new traders.

RWDM, owned by John Textor, and Westerlo, owned by Turkish businessman Oktay Ercan, reported important losses of €22.9 million and €21 million. Even KRC Genk, historically recognized for its prudent monetary administration, confronted an uncommon deficit of €14.6 million. The membership settled a dispute with tax authorities for €14 million. OH Leuven, owned by King Energy, retains working up the losses with a deficit of €11 million.

Seven golf equipment managed to current optimistic monetary outcomes.

Union Saint-Gilloise emerged as the highest performer with a revenue of practically €15 million. Membership Brugge, KAA Gent and Anderlecht additionally reported earnings, although the latter two relied closely on substantial capital injections to attain these optimistic outcomes.

Since 2020, membership homeowners have injected a staggering €747 million into Belgian soccer, highlighting the immense monetary efforts required to take care of a semblance of stability.

Within the second division, Lommel, half the Metropolis Soccer Group multi-club possession empire, suffered a lack of €8 million. Franc Borains have been slapped with a factors deduction due to inadequate fairness.

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