Accounting document also shows that the club had gross revenue of R $ 92.37 million in the period

Grêmio had a surplus of R $ 11.68 million in the first three months of the year. The positive financial result was released by the club in its quarterly balance sheet, having recorded only the initial effects of the coronavirus crisis, since its last match was played on March 15.

The accounting document also shows that Grêmio had gross revenue of R $ 92.37 million in the period. Sports expenses were R $ 70.14 million, with an Ebitda (earnings before interest, taxes, depreciation and amortization) of R $ 22.23 million.

Despite the positive result, Grêmio estimated to raise R $ 50 million from the sale of athletes until March, but obtained revenues of only R $ 18.5 million in negotiations. With the partners, another important source of revenue, received R $ 19.3 million, R $ 2 million less than expected.

The balance sheet may bring some relief to Grêmio, but the current scenario concerns the direction of the club, due to the loss of revenue with box office, members, sponsorships and broadcasting rights of the games during the period of stoppage of the competitions – the cast completed the third week of training, with the estimate that the Gaucho Championship can be resumed in the second half of July, if the sanitary conditions are better by then.

Grêmio scheduled the assessment of the quarterly balance sheet for next Thursday, when a virtual session of the club’s Deliberative Council will be held.