UEFA on Wednesday unveiled its 4th club benchmark report about the financial health of the European game. The report covered the financial figures of 665 clubs – 90% of all top-division outfits – and revealed that while revenues rose 6.6% to reach a record Eur12.8 billion, costs also rocketed by Eur1 billion to Eur14.4 billion. This has led to 56% of clubs making a loss with total debts of Eur8.4 billion.
UEFA has warned European football faces its “last wake-up call” as it revealed the losses of the continent’s top clubs jumped by 36% to Eur1.64 billion in the 2010 financial year.
The figures come as UEFA prepares to implement its financial fair play rules. The rules are set to come into play in 2013-14 and will analyse clubs’ accounts for the previous three years, starting with the current 2011-12 financial year. Clubs competing in European competition will be permitted to lose just Eur45 million over these three years.
Clubs that flout UEFA’s rules could be banned from fielding new players, be deducted points or face limits on squad sizes in European competition, as well as fines and exclusion from competitions.