Zalgiris introduces financial situation in post-season press conference 8
After the season came to a close, Zalgiris director Paulius Motiejunas participated in the tradition post-season press conference, where he introduced the club’s financial report and discussed the achievements of the previous season.
During the difficult pandemic season, it wasn’t possible to accumulate the planned income, and instead of a 9.2 mln. euro income, Zalgiris reached 7.3 mln. with the main reason being having to play without fans. The club reported a 0.4 mln. euro income for ticket sales.
A positive development was the funds from partners and advertising, as instead of the planned 1.7 mln. Zalgiris managed to earn 1.9 mln. euros. The launch of Zalgiris Insider and new Zalgiris licensed products were also shared in positive light, with the latter rising from 150 thousand euro to 250 thousand.
The club’s expenses slightly decreased, as the planned 9.7 mln. euro expenses were lowered to 9.1 mln. after agreeing to a reduced salary with Patricio Garino and loaning out Tomas Dimsa and clearing several other lines on the budget.
Combining these numbers with a 0.5 mln. euro surplus from the previous season, a 1.3 mln. euro hole can be found in the final budget.
“The deficit is 1.3 mln. euro. I would like to stress that we have fully paid all our players and coaches, with 1 mln. euro in taxes not yet paid – we will be looking for an agreement on how to pay it, as can all other companies that have suffered from the pandemic, in a five-year span.”
During the conference Motiejunas also talked about the upcoming season’s Zalgiris picture. While it is still difficult to do that clearly, with an uncertain epidemiological situation in Lithuania, as it prevents the planning and sales of season tickets and ticket sales in general. With the assumption that only 2000 spectators could attend each match, the planned budget would be set at around 6.8 mln. euro.
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