Heavy financial losses in UEFA due to Corona
European football faces another financial setback in light of the continuing crisis of the Corona pandemic, as the European Football Association (UEFA) has returned more than half a billion euros to owners of television rights for matches.
Andrea Agnelli, chairman of the European Club Association (ECA), said today, Tuesday, that Uefa is repaying 575 million euros (680 million dollars) due to the suspension of football activity for several months, and also the scenes that coincided with the end of the season, as the agenda of the Champions League matches shrunk. And the European League compared to the usual agenda for the season.
“This is all the money that will not be distributed,” Agnelli said during the virtual general assembly of Eka.
According to the original agreement, UEFA would have received 3 billion and 250 million euros last season, as two billion and 550 million euros were to be distributed to the clubs participating in the two European championships.
It is not clear whether the 575 million euros, which will be granted to the owners of the TV rights, will be deducted from the clubs or whether Uefa will bear part of the losses.
The Champions League and European League competitions were suspended last March, before the two tournaments were completed in August through a combined tournament, with the quarter-finals and the golden square being held from one meeting instead of the round-trip matches.
Agnelli, who also holds the presidency of Juventus, the Italian champion, confirmed that European clubs will record losses of about 4 billion euros in the 2019 2020/2020 season and 2021 / because of the Corona pandemic.
Club revenue from ticket sales has diminished due to matches without fans, and Agnelli also expects a decline in sponsorship revenues and a decline in the transfer market for players, describing the upcoming season as full of challenges on and off the field.
Agnelli also said talk of the Champions League reform process that was scheduled to take effect by 2024 would be postponed.