By Matthew Roscoe • 27 January 2021 • 18:48
CREDIT: Pexels / Pixabay
The COVID Pandemic Plunges the World of Football into Debt.
AS the pandemic progresses, the football world has been severely affected, with many clubs being forced to review their economic structures, demanding in many cases a reduction in salaries for their players in order to face an uncertain future.
The 2019/2020 football season took a hit of €1,100 billion and is expected to double by the end of the current campaign.
The economic bump in the world of football will continue, at least until the end of 2021, according to the report “Football Money League 2021” made public by Deloitte.
The report delves into the keys to the decline in income, mainly focused on the absence of fans and lack of television coverage.
In Spain, LaLiga giants Barcelona have been the club most affected by the coronavirus, which although it maintains the first place in terms of income, has seen its business reduced by 15 per cent, going from 840 million per year to 715.
In fact, yesterday (January 27), Barcelona reported a €1,245,200 billion debt in their Annual Financial Report due to coronavirus losses. – only Manchester United, with a decline of 19 per cent, has suffered a greater impact than the Catalans.
“The crisis derived from COVID-19 has pushed clubs to rethink and recalibrate their strategic objectives and business models so that they can ensure a solid and prompt recovery,” says Concha Iglesias, a partner in charge of Sports at Deloitte Spain.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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