According to a report released by UEFA on Thursday, soccer clubs in Europe are likely to lose revenue, up to $ 10.6 billion (€ 8.7 billion), as they face dire financial consequences as they already struggle to make. facing the The precarious situation in which the Covid-19 pandemic has left them.
According to the annual study of the European club football scene, it is assumed that over the 2019/20 and 2020/21 campaigns, revenue of € 8.7 billion has been lost and top-tier clubs have lost € 7.2 billion. of euros, while 1,500 million euros in the lower level. Further losses incurred as a result of closed-door matches in national leagues and UEFA club competitions, as well as in the Champions League and Europa League, where the inability to sell tickets turned out to be a significant loss of revenue .
On this, UEFA President Aleksander Ceferin also commented referring to last year’s report where he said that European football was strong, resilient and ready for new challenges. He further said that “No one could have predicted that we would have to face the greatest challenge for football, sport and society in modern times,” he added. You did not anticipate the losses that were incoming. He also said that clubs that relied heavily, if not totally, on their supporters were hit the hardest.
Furthermore, due to budgets cut by the governing body, European club transfer spending in the summer window last year showed a surprising drop of 39 percent. As a result of reduced revenue streams, UEFA has also relaxed the Financial Fair Play (FFP) rules for the time being, preventing clubs from spending more than their revenue.
Ceferin also said about bringing more prominent and dynamic changes to the FFP rules, as he says that“This report clearly shows that we are now operating in a new financial reality, and it is becoming clear that our current Financial Fair Play regulations will need to be adapted and updated.”