In August of 2017, Club Atlético River Plate ended the fiscal year of the current management with the most important results: it reflects the biggest net value of all Argentine soccer clubs. River has assets for more than 900 million Pesos and a positive result of 310 million Pesos.
Andrés Ballota, in his last year as Treasurer, explained: ‘It is a balance that fills us with pride and satisfaction. The fundamental stones are set for this Club to continue to be the even greater. All members must be very proud of its numbers.’
Then, he added: ‘When you analyze the different variables that form the incomes, you can see that they all have improved, from marketing to sports incomes. The most important thing about this balance sheet is that River used to pay interests for its financial debts that were almost the same as what it collected for its member’s fees, over 12 million Pesos. In August of this year, we paid all the Club’s financial debts.’
Ballotta said: ‘For future managements, it is great news to have paid all the Club’s debts. We have eliminated the ever-present and growing deficit and we have left the Club with no financial debts at all. We met our objective.’
Regarding the trust, the Treasurer said: ‘There were some people that trusted this management and, for their love for the Club, gave money to it. Thanks to that, we have been able to continue to meet all payments. We said we were going to pay the trust before this term of office was over, and so we did.’
Ballotta concluded: ‘This means we met all of our objectives. It is a profound satisfaction for us and for all members to have healthy and sustainable finances. During this fiscal year, over 400 million Pesos from our own resources have been invested in professional soccer and infrastructure without contracting any debts. This keeps us setting pillars for the sustainability of the Club.’