Guangzhou Evergrande FC release 2017 interim report

August 30: Guangzhou Evergrande Taobao Football Club have released their financial report for the first half of 2017, which revealed an RMB662m (US$100.6m) deficit. 

According to the report, the club generated RMB 284 million (US$43.2m) in total for the first half of 2017, which is RMB 148 million less year-on-year, attributed to the decrease in players' transfer income. Revenue from their core business reached RMB 228 million (US$34.7m) while the non-operating revenues were RMB 56 million (US$8.5m). In total, the club has seen a deficit of RMB 662 million (US$100.6m), which is RMB 350 million (US$53.2m) more than last year. The main reason for this deficit is due to the high costs of hiring the head coach and players. 

The club's main business model is to increase its brand value by competing successfully in their domestic league the CSL, winning the Asian Champions League and playing in FIFA Club World Cup and building its PR image. It's revenue is then generated around the brand by selling match tickets and club merchandise and through advertising and licensing.

Source: www.p5w.net 

Proofread by Raymond Fitzpatrick