A Uefa released the financial report of European teams that play in the countries that play for the entity and showed considerable damage. Clubs failed to raise €4 billion due to the second consecutive year of pandemic.
According to the study, this is due to the stoppage in the last season, as they were also unable to spend almost anything or receive income from the audience in the stadiums, as they played months behind closed doors. The scenario could be worse, but the television broadcast quotas helped a lot not to make the situation worse.
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Another point was the increase in player salaries amid loss of revenue. This increase represents 2% for clubs in general, however, the expenses for this part come close to 91% of a club’s annual expenses. Thus, the area where the club spends the most has increased.
Andrea Traverso, director of sustainability, finance and research at Uefa, said there are two options for helping to improve the financial health of teams: “The first is a significant move towards better cost control, in particular in relation to wages and transfers, and greater emphasis on long-term investments in infrastructure and youth development. The second is to rebuild the capital reserve. Sustained cash reserves over the past decade have been an important first line of defense against revenue shortfalls.”
Source: Gazetaesportiva
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