Crying foul

24 December 2020 By Christopher Thompson Follow @CGAThompson

Empty stadia wiped out nearly $4 bln in sales, pushing even rich clubs like Manchester United and Barcelona into the red. A partial return for fans barely eases the pain. To save itself, the beautiful game will have to import the U.S. National Football League’s limit on salaries.

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European soccer clubs could lose an estimated 5.2 billion euros to 6.3 billion euros in revenue due to the impact of Covid-19, European Club Association Chair Andrea Agnelli said on Oct. 15.

Finances at soccer clubs across the region have been stretched as the pandemic forced authorities to suspend matches or limit spectator numbers once leagues had restarted.

Agnelli said the forecast included stadium losses, the impact the emergency had on medium-to-long-term commercial agreements and TV rights contracts that had to be renegotiated.

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