Udinese managed to reduce their operating loss by €20 million in spite of pandemic: CFO calls on industry to adopt rewards-based sustainability system
26 February 2021
Alberto Rigotto, the Serie A club's head of administration and finance, says previous years' responsible management has helped reduce the burden brought on by pandemic.
While others posted massive deficits, Udinese reduced their operating loss for 2019/20 by around 20 million, mainly thanks to lowering wages and amortisation.
A more responsible financial system is necessary in order to increase the credit industry's confidence in football, in turn boosting clubs' ability to plan long-term.
In addition, Rigotto proposes implementing a system that rewards financial sustainability to increase the game's overall competitiveness.
Despite the football industry being embroiled in an unprecedented crisis for the better part of a year now, at Udinese spirits remain high.
While fellow Italian clubs such as AS Roma, Inter Milan, AC Milan and Juventus recorded losses running as high as €204.1 million, Udinese's recently revealed financial results for the 2019/20 season show they managed to reduce their operating loss from €40.9 million to €21.3 million, almost breaking even with an EBITDA of minus 900,000.
Even in these extraordinary times, we have managed to remain within the norm
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