According to UEFA, the COVID-19 pandemic will cost European clubs 7 billion Euros. Clubs suffered a four-billion-euro hit in 2019-2020.
According to a UEFA report released on Thursday. The Covid-19 pandemic has left European clubs with a massive seven billion euro crater in their bank accounts. The virus-ravaged previous two seasons, with many games played to empty stands. Brought an end to a 20-year streak of revenue growth.
Lockdowns imposed to stop the spread of the virus. Which has killed nearly 2 million people in Europe and 5.69 million worldwide, cut off the clubs’ financial lifeblood – the fans.
Ticket sales dropped by 4.4 billion euros, while the report predicted a 1.7 billion drop in sponsorship and a 0.9 billion drop in television rights.
These figures correspond to the forecast losses contained in UEFA’s report in May 2021, which put the loss for Europe’s 711 top flight sides at 7.2 billion euros.
These long months of empty stadiums have resulted in a drastic decrease in ticket sales, which have dropped by 88 percent in 2021 compared to 2019.
COVID-19 pandemic will cost European clubs 7 billion Euros: Transfer market is sluggish.
UEFA also investigated Covid’s impact on the transfer market.
“Revenues due to transfers decreased by 40% during the summer 2020. January 2021, and summer 2021 transfer windows,” according to the European body, compared to their original level.
In the summer of 2021, European clubs spent 3.8 billion euros, compared to 6.5 billion in the summer transfer window of 2019.
UEFA, on the other hand, stated that signs of recovery have been observed in recent months, with “fans seeming to have more appetite than ever to return to the stadium.”
A total that is only 10% lower than the average winter transfer window between 2017 and 2019.
Paris Saint-revenue Germain’s fell by 15% between 2019 and 2020, to 560 million euros.
The Qatar-backed French giants are among Europe’s top five earners, trailing only Barcelona, Real Madrid, Bayern Munich, and Manchester United.