COVID 19: European Football Loses €7 Billion to Pandemic

A UEFA report has revealed that European football clubs have lost €7 billion as a result of the COVID 19 pandemic
The pandemic has disrupted the past two season losses from ticket sales, sponsorship, and television rights
Clubs suffered a loss of 4 billion euros in the 2019-2020 season and lost 3 billion in 2020-2021

The COVID 19 pandemic obviously disrupted finance in many industries and football was not left out.

A recent report by UEFA has concluded that European football teams have lost 7 billion euros to the pandemic since it started.

Fears about the spread of COVID 19 have caused many games in the past two seasons to be played with minimal spectators or behind closed doors.

The report revealed that clubs have lost money in the form of sponsorship deals, gate fees, and television rights receipts.

In the 2019-2020 season, an estimated 4 billion euros was lost but this dropped slightly to 3 billion in 2020-2021.

Ticket sales plummeted by 4 billion euros, while the report forecasted a €1.7 billion drop in sponsorship and €0.9 billion in tv rights.

Clubs have been evidently affected by these losses as 3.8 billion euros was spent on transfer in the summer of 2021, down from 6.5 billion in 2019.

But UEFA also stated signs of recovery have been observed recently as “fans seem to have more appetite than ever to return to the stadium.”

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