The football-COVID pandemic has cost European clubs 7 billion euros: UEFA study | The mighty 790 KFGO
(Reuters) – A study by governing body UEFA has shown that the COVID-19 pandemic has cost European clubs seven billion euros ($7.91 billion) over two seasons, even as the Top team player salaries rose 2% to 11.9 billion euros ($13.45 billion) during the endpoint.
Top-flight clubs suffered losses worth four billion euros ($4.52 billion) in 2021, compared to three billion euros ($3.39 billion) the previous year.
The majority of losses are due to empty stadiums, with revenue from ticket sales having fallen by 88% in 2020-21. Transfer income also fell, falling by 40%.
British media said the report, which included 724 clubs across 54 top divisions in Europe, added that 900 million euros ($1.02 billion) had been awarded to broadcasters, while sponsorship revenue had fallen by 1.7 billion euros ($1.92 billion).
UEFA President Aleksander Ceferin, however, said there was reason to be optimistic with fans returning to stadiums.
“One of the lessons of the past two years has been that only by showing solidarity and working together can European football overcome existential challenges such as the pandemic,” he said. .
“This report provides sobering detail about the post-pandemic challenges ahead. But whether the pandemic lingers or goes away, European football will remain strong, stable and united in 2022.”
($1 = 0.8850 euros)
(Reporting by Dhruv Munjal in Bengaluru; Editing by Peter Rutherford)