Victoria's D.A.S. has a loss of 11 million in 2025/26

A SAD do Vitória de Guimarães concluded the season 2025/26 with a net negative result of 11 million euros (ME), today revealed the Minhoto club, of the Portuguese Football League, in a note published on the official website.

After record profit of 7.4 ME at the time 2024/25, the Victorian SAD accounts returned to the ‘red’ in a season marked by the winning of the League Cup, but also by the 33% decrease in operational income, the portion of income that does not include player transfers.

The Vimarans explain the reduction from 22.7 to 15.1. ME with the variation in income from UEFA, which was fixed at 9.44 ME in 2024/25, the result of participation in the Conference League, to 1.19 ME in the transatlantic era, in which they were absent from European competitions.

The minhoto club secured 22,8 Additional ME in player transfers income, especially Diogo Sousa to the French from Strasbourg, for a gross value of 11 ME, and Noah Saviolo to the Turks from Trabzonspor, for 11,5 Crude ME, but the costs and depreciations with athletes' rights decreased this value for the 12.6 ME, well below the 22.8 ME of 2024/25.

Operational incomes and ‘packages’ with player passes were thus insufficient to close operational spending, which rose 0.7%, from 32.9 to 33.1 ME.

Vitória de Guimarães explains the stability of spending on “the reduction of costs associated with participation in European competitions, including travel and logistics” and on “the increase in costs resulting from the restructuring of the squad, particularly with contractual withdrawals and “sport prize charges”.

In addition to the negative balance of 5.4 ME between incomes and expenses, the burden of interest, taxes and “accounting effects” worsened the net result for the 11 ME.

At the equity level, the Victorian SAD remains in technical bankruptcy, with a negative equity that worsened, from 25.8 to 36.8 ME, and the total liabilities increasing from 68.9 to 85.3 ME, while the asset rose from 43.1 to 48.5 ME.

The Vimarans point out that the net liability is 57.1 ME, after “deduction of customer balances, inventories and financial availabilitys”, a value still higher than 48.2 ME at the end of 2024/25.

The published note also states that the exercise of 2025/26 marks “the end of a management cycle” in the SAD, in the face of the resignation of António Miguel Cardoso and the elections of 13 June 2026, which consecrated Rui Rodrigues as the new president of the club and the board of directors of SAD.

“ However, a new management cycle was started, based on greater prudence in the use of resources and in the rigour of investment decisions, with particular focus on an effective reduction in spending, on the rationalization of the structure of costs of society and on a more judicious management of the size and burdens associated with the squad ", reads.