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Sporting’s SAD announced on Monday a negative net result of 4.2 million euros in the first quarter of the 2020/21 season, justified by the effects of the Covid-19 pandemic.
“The results of the first quarter of the 2020/21 season derive from the inevitable effect of the consequences caused by the Covid-19 pandemic, the effect of which was global, with Sporting SAD being no exception, with a negative impact estimated at around five million euros in the quarter now closed and a total of € 17.5 million for the season ”, reads the statement sent to the Portuguese Commission for the Securities Market (CMVM).
The lions reveal that they closed the first quarter with a turnover of 28.4 million euros, which represents a reduction of 59% compared to the same period last season, explaining that it is due to the “reduction in current revenues, following to keep the championship matches behind closed doors, not qualify for the Europa League and reduce player sales ”.
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