The teams will have to do the math while soccer is stopped. Income has disappeared but expenses are still present. Therefore, the clubs that will best cope with this break will be those who enjoy better financial health and have more money in their treasuries. “It will be essential to undertake their financial obligations, but if someone was already ‘drowned’ before COVID-19, now they will have a much worse time,” says Carles Murillo, president of the Spain Society for Sport Economics.Barcelona, Real Madrid and Athletic are the three teams with the most liquidity in LaLiga, but the short-term debt and the items to be collected in the same period must be taken into account. Since even if you have money in the bank, if you have many debts this can affect the viability of your economy if the income tap is cut. Or vice versa, if you have little money in the box but few expenses and short-term debt, perhaps you can better cope with the impact of the break.Real Madrid’s financial health places it as one of the few teams with a solvent treasury to deal with this crisis and to have the economic capacity to surprise the transfer market. “If I had to bet on one of the clubs that would play it on the market, one would be Madrid. All seasons generate 700 million and would be easy to finance, so they could take risks. In addition, it is a team that has enough money in its accounts for provisions and that has been saving to face a great signing. There may be owners, like those of PSG and City, who take advantage of the situation and find opportunities in the market. There will be less competition and they will be able to sign players and it could be easier for them“explains Jaime Fortuño, professor at the EAE Business School.For his part, Carles Murillo points out: “It depends on the reserves that Real Madrid may have and the debt it has in the short and medium term. The panorama of the debt that the clubs have is very varied at the Spanish and international levels. If the debt ratio does not commit you and you have reserves, you could play with this advantage in the market. It would be, if they can do it, an award for their economic performance in recent yearsAnd he adds: “At the moment I do not see it feasible to pay a lot, except these clubs that are owned by people with many reserves can break the deck.” A clear reference to club-states like PSG and Manchester City that have recorded millionaire signings season after season. Although these three may be the agitators of the market, Gay de Liébana warns against the possibility that the current situation will continue too long: “Having a good treasury allows you to face payments when there is a downturn. Madrid is well positioned financially and now it is not going to make adjustments, but it will have to be thought about if this lengthens. On the other hand, regarding PSG and City, it must be borne in mind that they may be affected by the price of gas and oil, which is falling and its owners are influenced by it.“All agree the specialists consulted by AS agree on one point: the season must be ended to soften the impact. “Tebas is right, the League must be ended and thus secure part of the audiovisual rights,” says Fortuño. With these revenues, it would be possible to save a large part of the teams’ budgets, since they are one of their most valuable assets, especially for lower-middle class clubs. For the big ones, the loss of the make-up and marketing will be very important: “The sponsors put money to have visibility and will readjust their contracts if the paying clubs are not playing. These brands, in addition, are already suffering the brake on the demand for their products, “says Gay de Liébana.The return of the leagues would assure the teams the return of income from television rights (494 million euros are at stake in the First Division) and a large part of those obtained through marketing, although there is a decrease in this item due to the crisis suffered by brands. The box office and the fertilizers is the asset that is most in danger, since to return the competition aims to be behind closed doors. But Madrid in its latest accounts shows tranquility in the face of an eventual crisis: “The diversification of recurring income confers economic stability on the club, cushioning the impact of possible income fluctuations motivated either by sporting activity or by the economic situation”: It is say, As the experts and the accounts of the club point out, Madrid can be one of the great agitators in the next transfer market.