European soccer revenues grew by 10% in the 2020-21 season despite an almost total lack of supporters in stadiums, according to the Deloitte annual survey of the sport’s finances.
The season was like no other with the Covid-19 pandemic curtailing virtually all matchday income, but Deloitte’s Annual Review of Football Finance showed the industry had held up across the continent with total revenues of €27.6bn.
The so-called big five leagues in England, Spain, Germany, Italy and France enjoyed a combined 3% rise in revenues with Italy’s Serie A up 23% to €2.5bn and England’s Premier League rising 8% to €5.5bn.
Deferred broadcast revenues from the previous season, 48% in the case of Serie A, and the success of the postponed Euro 2020 tournament played across the continent in 2021, were behind the rise in European revenues, the report said.
“Clubs across Europe played a significant proportion of matches behind closed doors or with reduced capacity during the 2020/21 season which caused an almost complete loss of matchday revenue,” said Tim Bridge, lead partner in the Sports Business Group at Deloitte.
“It’s testament to the resilience of the industry, the value driven by broadcast deals and the success of the Euros that the European football market has achieved tenacious growth, in terms of revenue, over the past year,” he said.
Behind the impressive numbers, however, the picture was not rosy everywhere. Germany’s Bundesliga reported combined revenues down 6% to €3bn while Spain’s La Liga also contracted by 6%. Of the big five leagues, only the Premier League saw an increase in clubs’ cumulative operating profits, up from €49m to €479m.
Although combined net debt in England’s top flight increased by only 4% to £4.1bn (€4.9bn) in 2020-21, debts in the second-tier Championship increased by 32%, with wage costs exceeding revenues for the fourth consecutive year .
Meanwhile, the Glazer family would consider selling a minority stake in Manchester United, as pressure mounts on their ownership, Bloomberg reported. The owners have held some preliminary discussions about the possibility of bringing in a new investor.
The American Glazer family is not yet ready to cede control of Manchester United, which could be valued at about £5bn, the sources said. Discussions are ongoing and there is no certainty that the Glazers will decide to sell a stake in the club, according to sources.
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