Uefa warning after top clubs losses soar
Losses at Europe's top clubs have worsened by 36 per cent, leading Uefa to issue a 'last wake up call' to their owners if they are to comply with the new financial fair play rules. If they were to be applied now, more than a dozen clubs could be in breach of them.
On the more positive side revenues for top flight clubs have increased by 6.6 per cent to €12.8bn against a background of economic difficulty in Europe, illustrating the appeal of the game and its resilience. The ratio of employee costs to revenue has stabilised for the first time in years at 64 per cent, although a 50 per cent ratio is the usual recommendation. Attendances at top division matches were up slightly at 101 million.
Uefa's annual benchmark report on football finances reported that losses at top clubs reached €1.6bn in 2010, compared with €1.2bn the previous year. Costs of €14.4bn are €1bn up on the previous year and debts are €8.4bn.
Uefa said net spending on salaries and transfers by the 10 clubs at the top of the market was twice as large as the next 10 clubs, the actual difference being €166bn more than the previous year.