Pereira da Costa: Porto will fully meet UEFA’s financial rules | OneFootball

This morning, at Estádio do Dragão, José Pedro Pereira da Costa, Chief Financial Officer (CFO) of FC Porto, presented the accounts for the 2024/25 season. At the beginning of his speech, the club’s financial head assured that there is no cause for concern regarding UEFA’s financial control.

“These results will allow us to fully comply with UEFA’s financial sustainability rules and mitigate the impact of the previous year’s non-compliance. I remind you that we had a deficit of around €50 million, which would have led to the signing of an agreement and placed us under the jurisdiction of financial fair play, had we not achieved this year’s significant results. When we presented our case to UEFA, stating that we would have very significant results, we convinced them not to place us under financial fair play supervision and to impose a much lighter fine compared to the other five clubs involved. Therefore, we achieved full compliance and managed to exit non-compliance without major issues. We received a fine of €750,000, already reflected in the 2024/25 accounts. This also allowed us to invest in the squad, with natural and renewed ambitions,” he stated.

“There was a strong restructuring of operational costs, by about €30 million, with emphasis on personnel costs and the supply of external services. The approximately €40 million in positive net results, together with the Ithaka deal, allowed for a very relevant improvement in our equity situation, with shareholders’ equity at €10 million negative. We are not yet in positive territory, as we would like to be, but we are very close. We started from a highly unbalanced situation, with €243 million in excess of current liabilities over current assets, therefore with very low solvency, and we have reduced this to about €30 million negative. It is normal to have this negative side; if you look, our rivals also have it in their accounts,” he said.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇵🇹 here.