European soccer revenues rise despite COVID
STORY: A lack of fans in stadiums couldn’t stop European soccer making money during the health crisis.
Deloitte’s Annual Review of Football Finance showed revenues grew 10% over the 2020-21 season.
That despite fans being stopped from going to stadiums and matchday income virtually disappearing.
The industry made $28 billion, according to the report.
The so-called big five leagues in England, Spain, Germany, Italy and France saw a combined 3% rise in revenues.
Italy’s Serie A was up 23% to $2.5 billion, while England’s Premier League was up 8% to about $5.6 billion.
Deloitte's report said the postponed Euro 2020 tournament was partly behind the revenue rise.
Deferred broadcast revenues also pushed earnings up.
Though the numbers were impressive, some leagues struggled.
Germany’s Bundesliga saw combined revenues down 6%, while Spain’s La Liga also contracted.
Only the Premier League saw an increase in clubs’ cumulative operating profits.
They were up from around $59 million to about $575 million.
It means the Premier League - home to sides like Liverpool and Manchester City - is on course to remain Europe’s most powerful soccer league.
