Total losses of 650 biggest clubs in Europe amounted to over $ 2 billion, reports AP. It is reported that more than 360 of them have reported losses on the basis of 2010 fiscal year.
Total debts of the European clubs have reached a level of almost $ 11 billion. A study conducted by UEFA, showed that losses of teams have increased by almost $ 500 million compared with 2009. All this happens against the background of rising incomes of 6.6 per cent of clubs in 2010.
65 percent of the clubs participating in European competition completed fiscal year with a loss. Three quarters of the teams that earned more than $ 65 million over last year, were unprofitable.
Total debts of the European clubs have reached a level of almost $ 11 billion. A study conducted by UEFA, showed that losses of teams have increased by almost $ 500 million compared with 2009. All this happens against the background of rising incomes of 6.6 per cent of clubs in 2010.
65 percent of the clubs participating in European competition completed fiscal year with a loss. Three quarters of the teams that earned more than $ 65 million over last year, were unprofitable.
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