Gerard Piqué loses 24 million with one of his companies

Gerard Piqué is once again in the center of the media spotlight.

Oliver Thansan
Oliver Thansan
17 October 2023 Tuesday 22:52
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Gerard Piqué loses 24 million with one of his companies

Gerard Piqué is once again in the center of the media spotlight. The former soccer player is going through a good moment in his personal life, after the continuous controversies that he was involved in with his ex-partner, the singer Shakira, in the first half of the year. But it seems that the tension and darts between the two are already part of the past, and now the artist and the former Blaugrana are focused on getting their lives back on track, although yes, each one in a different part of the world.

But the bad news for the former soccer player seems to not stop, although this time in the business field. This Wednesday the news broke that Kerad Holding, the parent company of the Kosmos group, owned by Gerard Piqué, had recorded its biggest loss since the year it was founded, in 2009. According to information revealed by the Cinco Días media, the holding company closed its fiscal year 2022 with a large amount of losses, the figure of which had been 23.9 million euros.

This amount would contrast with the profits obtained from the holding company during the previous year. According to the aforementioned media, the former soccer player pocketed a total of eight million euros in profits, becoming the best profit in the group up to that point.

The income statement of Kerad Holding shows, despite not grouping all the group's results, that the losses valued at 24.8 million euros would be under the concept of ''impairment and results from disposals of financial instruments''. At the moment, the company has not given more details about this situation as these are abbreviated annual accounts.

If we compare it with the result in the same section the previous year, the difference is abysmal. And the company obtained 13 million euros in profits. Despite this business setback, Kerad Holding closed its financial year with a net worth of 41 million euros, which ensures its solvency.

Among the different companies in which Kerad Holding is a partner, Kosmos Global Tennis stands out. This company was in charge of organizing three editions of the final phase of the Davis Cup Tennis, after reaching an agreement with the ITF (International Tennis Federation). This agreement, planned for 25 years, represented a revolution for competition. But in early 2023, the contract broke down because both parties could not reach an agreement on the money that Kerad had to pay to the ITF.