The income from its activities amounted to €361.4 million (+25%), for a gross operating surplus of €44.2 million, a sharp increase, and a negative net result of -€25.7 million (it was -€47.5M over the previous financial year).
A sharp increase in “events” activity (€43.4M or +161%), the CVC payment by the LFP and the sale of OL women's football are the main elements of these improving results. Arena and OL Reign sales are also taken into account.
We also note an increase in financial debt, which increased from €458 million to €505 million.
Different strategic options
Eagle detailed its strategy, returning to the plan to rationalize its operating costs which could lead to a voluntary departure plan. The group is considering several hypotheses:
“The contribution of €75 million by the end of December in the form of equity and/or proceeds from the sale of players held by clubs in the group, the contribution of a maximum amount of €40 million from the planned sale of its participation in Crystal Palace, the contribution of a maximum amount of €100M at the start of 2025 as part of its IPO project in New York, the completion of player transfers during the January 2025 transfer window, the signing of 'a waiver for which discussions are ongoing (a temporary or definitive waiver of certain contractual rights or obligations agreed between two parties, editor's note)'.
Accounts not certified by the auditors?
The end of the press release nevertheless raises questions. “Although the group considers that it is probable that all or part of these financing operations will be completed, any significant delay or non-realization of these cash flows could call into question the principle of continuity of operation of the company and its subsidiaries.
And Eagle concludes that “the auditors are considering issuing an impossibility of certifying on the corporate and consolidated accounts”.
