NYON – More than half of Europe’s top football clubs are still in the red, with a record 1.2 billion euro losses about a year before UEFA’s new financial rules kick in, officials said Tuesday.
“At present there are still 56 percent… professional football clubs in the red,” he told journalists as UEFA unveiled its club licensing report for 2009. The 655 top division clubs scrutinised by footballing officials reaped 11.7 billion euros in revenue in 2009, an increase of 4.8 percent. “However… the reported costs were 12.9 billion euros, an increase of 9.3 percent,” said Infantino. That brought their collective losses up to nearly 1.18 billion euros, an 85 percent increase.
