Roma have recorded losses of over 204 million euros ($240 million) for the financial year up until June 30 largely as a result of the coronavirus pandemic, the Italian club revealed on Wednesday.
“The loss for the 2019-20 financial year is estimated at 204 million euros,” the Serie A side said of preliminary figures released at the request of Consob, the Italian stock market regulatory authority for accounts up to June 30.
AS Roma changed ownership in August with US businessman Dan Friedkin taking over from fellow American James Pallotta in a deal valued at nearly 600 million.
If Roma were already in the red before the pandemic, the health crisis accelerated their financial woes with the resulting impact on sports competitions, TV rights and sponsorship.
“Despite the measures adopted to mitigate the consequences, this emergency, extraordinary by its nature and magnitude, has had, and continues to have, significant repercussions on the group’s economic activities, creating a context of general uncertainty,” Roma wrote in the document posted on its site.
The capital side have also failed to qualify for the Champions League this and last season.
The club saved 30 million euros as a result of their players and coach Paulo Fonseca agreeing to give up four months salary from March to June.
The transfer window also brought in 13 million euros with the sale of players including Gregoire Defrel to Sassuolo, Maxime Gonalons (Granada), Aleksandar Kolarov (Inter Milan) and Patrik Schick (Bayer Leverkusen).