Partizan reports significant loss in 2023, while Red Star Belgrade sees profit growth

13. April 2024
Crvena zvezda (foto: Uradni facebook profil kluba)
Partizan recorded a net loss of about €9 million in 2023, while Red Star achieved a net profit of €3.7 million.

According to financial reports published by the Business Registers Agency, Partizan's financial performance has drastically worsened compared to 2022, when the net loss was €1.38 million.

"The club reported a net loss of 1,058,647 thousand dinars for the year ending December 31, 2023, compared to a net loss of 161,747 thousand dinars in 2022," stated Partizan's financial report.

Investment in the team, coupled with failing to qualify for the group stage of UEFA competitions, led to Partizan's dire balance and increased total club debt.

Red Star played in the group stage of the Champions League without needing qualifiers and had guaranteed significant revenue from UEFA, which resulted in positive financial operations compared to 2022.

At Marakana, there was a net loss of about ten million euros in 2022, but now a profit of €3.7 million was achieved.

"After a net loss of RSD 1,171,314 thousand in 2022, the club reported a net profit of RSD 434,125 thousand in 2023," reads Red Star's financial report.

Partizan had significantly lower revenue than in 2022, with a difference of €9.8 million. The club generated approximately €23.6 million in 2022, while in 2023, the revenue was only €13.8 million.

Red Star's annual revenue increased by €22.7 million, totaling €57.7 million in 2023.

In terms of operating expenses, Partizan's spending was similar over the two years. Last year, the total bill amounted to €22.2 million, compared to €23.5 million in 2022.

Red Star had expenses nearly equal to its revenue, spending €56.4 million. In 2022, the total bill was €45.4 million.
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