Despite the sporting successes and the sale of Pablo Solari, the Cacique also accumulated million-dollar losses between January and September 2022. The high settlements paid in the termination of the contract of some players generated a problem in the balance sheet.
Colo Colo seemed on the right track financially thanks to the lucrative transfer of Pablo Solari to River Plate. However, this could not prevent the institution from ending up with negative numbers again after lose about 279 million pesos between January and September 2022.
The newspaper The Third revealed some data on the financial balance of the alboswhere despite the losses, it shows a considerable improvement in its finances in relation to the same period in 2021. The sale of El Pibe helped a lot, as well as the prizes accumulated during their participation in Copa Libertadores and Sudamericana.
Anyway, in the third quarter they achieved a profit of 69 million pesos and these figures should improve considering the successful closing of the year in sports.
millionaire settlements
Many wonder how, despite the successes on the pitch and selling players, the club once again accumulated losses. As reported by the aforementioned morning paper, the Cacique had to face the high cost that some renewals meant, as well as the termination of the contract of players such as Leonardo Valencia and Christian Santos.
“There was an increase in the remuneration costs of the squad and technical staff compared to the same period in 2021, due to new hires and renewals of the squad. Another influencing factor is the increase in the exchange rate, since there are commitments to pay salaries in dollars, in addition to the settlements of the players Leonardo Valencia and Christian Santos that go in this item and awards to the team for achievements”, they told from Blanco y Negro to La Tercera.
It should be remembered that the contract Valencia became one of the highest in Colo Colo after repatriating him from Brazilian football. Nevertheless, He never justified that value on the court and ended up leaving for Deportes La Serena after ending their relationship early.
For his part, Christian Santos He arrived at the closing of the transfer market for the second half of 2021, coming from German football. Despite having several opportunities, offered a poor performance and only contributed one goalfor which the albos also advanced their goodbye after mutual agreement.
