September 29, 2023
″We are ready to start a new era″

″We are ready to start a new era″

Sporting released the Report and Accounts for 2022/23 this Friday

Sporting SAD ended the 2022/23 financial year with a positive net result of 25.2 million euros and, in a message in the Report and Accounts published at CMVM, Frederico Varandas, president of the Leonine emblem, considered that the club is ” in conditions to begin a new era”.

“Due to these results, it is possible to start a new chapter, in which we can raise the level of investment, both sporting and business, without compromising the short term and sustainability of the club. Sporting SAD is today better prepared to do faced with the challenges that the new global era presents, and in particular for the new context of Football, which is experiencing accelerated change. It is, therefore, with great satisfaction that we consider that we are in a position to start a new era, which is also critical for continue to create long-term value”, can be read in the message from Varandas, president of the Board of Directors.

Read the message in full:

“Dear shareholders,

In September 2018, we started a strategy with a very clear and assumed objective of creating value in the long term.

The 2022/2023 financial year, which we present today, writes the final lines of a first chapter that, consequently, allows us to start a new one in 2023/2024.

We closed the season with the best Turnover ever and with the return to positive Equity, for the first time, after 6 years and the best in the last 17 years. The first reached 222 million euros and the second amounted to 8.9 million euros.

It is the second consecutive year with a positive Net Profit, €25 million euros, which highlights the sustained growth and consistency of the results obtained.

In this first phase, the recovery of Sporting SAD was critical, which was achieved, as well as the construction of the fundamental foundations to enable the organization’s long-term development.

We have built a path that allows us today to achieve the highest value and profitability of assets ever in the history of Sporting.

Due to these results, it is possible to start a new chapter, in which we can raise the level of investment, both sporting and business, without compromising the short term and sustainability of the club. Sporting SAD is today better prepared to face the challenges that the new global era presents, and in particular for the new context of Football, which is experiencing accelerated change.

It is, therefore, with great satisfaction that we consider that we are in a position to begin a new era, which is also critical for us to continue creating long-term value.

Long live Sporting Clube de Portugal!
Frederico Varandas
President of the Board of Directors”

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