Let’s put the magnifying glass on each of the two aforementioned indicators, which help explain the economic balance of each entity and the success of their respective management:
solvency ratio
He RFEF solvency ratio in 2022 was 1.70, which indicates that its financial health corresponds to a balanced company and that it could face its debts without problems and that it has a significant margin of liquidity. The LFP, on the other hand, presented in that same year a solvency ratio of 1.03, at the limit of being able to meet its payment commitments. The aggregate of LaLiga clubs and SADs had a solvency ratio of 1.21, although with differences between one club and the other.
(The solvency ratio is the quotient between Assets and Liabilities and reflects whether the company is capable of meeting its payment commitments in the medium and long term with the assets it has available. A ratio less than 1 indicates that the company would be in Technical bankruptcy)
The RFEF, a benchmark for solvency ratio together with Celta, Espanyol and Athletic |
|
|---|---|
| Celtic | 2.27 |
| Spanish | 1.95 |
| Athletic | 1.85 |
| RFEF | 1.70 |
| Elche | 1.62 |
| Ray | 1.57 |
| Majorca | 1.47 |
| Real society | 1.45 |
| Grenade | 1.43 |
| villarreal | 1.42 |
| real Madrid | 1.32 |
| Osasuna | 1.25 |
| LFP + Clubs | 1.21 |
| Seville | 1.13 |
| Atletico Madrid | 1.12 |
| Alaves | 1.11 |
| Cadiz | 1.10 |
| Getafe | 1.05 |
| LFP | 1.03 |
| I raised | 1.03 |
| Valencia | 1.02 |
| Barcelona | 0.80 |
| Betis | 0.71 |
liquidity ratio
In 2022, the RFEF liquidity ratio was 1.60, showing a comfortable treasury position, with ample capacity to be able to meet its short-term payment commitments. In the case of the LFP and associated companies, the ratio in 2022 was 1.32, and the aggregate of LaLiga clubs and SADs, 0.86, below the recommended minimum value.
(This ratio indicates whether the company has enough cash to meet its short-term payment obligations. It is defined as the ratio between current assets (cash, banks, short-term collection rights, etc.) and liabilities (short-term payment obligations, pending invoices, short-term financing, etc.) Also in this case, a value greater than 1 is indicative of good financial health, while a value less than 1 would reflect a real risk of not to meet short-term payment obligations)
The liquidity ratios* at the end of the 2021-2022 season of the First Division clubs were:
The RFEF, a benchmark in solvency together with Rayo, Celta, Athletic and Mallorca |
|
|---|---|
| Ray | 2.81 |
| Celtic | 2.69 |
| Athletic | 1.78 |
| Majorca | 1.74 |
| RFEF | 1.60 |
| real Madrid | 1.57 |
| LFP | 1.32 |
| Elche | 1.26 |
| Villarreal | 1.05 |
| LFP + Clubs | 0.86 |
| Grenade | 0.83 |
| Alaves | 0.82 |
| Cadiz | 0.71 |
| Barcelona | 0.67 |
| Getafe | 0.67 |
| Atletico Madrid | 0.58 |
| Spanish | 0.58 |
| Osasuna | 0.55 |
| Real society | 0.53 |
| Seville | 0.44 |
| I raised | 0.31 |
| Betis | 0.29 |
| Valencia | 0.19 |
All these results, positive or negative, have an impact on the balance sheet of sports entities, affecting their own funds, the value of their net worth and their solvency and liquidity indicators. For example, in the last two years (2021 and 2022), the RFEF more than doubled its own funds and went from 48.6 million euros in 2020 to 110.1 million in 2022. The LFP, on the other hand, ended 2021 with negative own funds (-5.5 million) and also negative net worth, although it returned to positive figures in 2022, with own funds of 46.8 million thanks to the elimination of investments from La Liga in subsidiaries and the subsequent increase in reserves in consolidated companies. In aggregate terms, the LaLiga clubs and SADs saw their own funds fall from 1,528 million euros at the end of the 2019-2020 season to 921.2 million at the end of the 2021-2022 season. A path of decrease contrary to the one that the RFEF has led to growth.