UEFA Revenues Fall: Big setback for UEFA, revenues fall by $984 Million due to Covid-19

UEFA Revenues Fall: Big setback for UEFA, revenues fall by US$984 million from the US$4.63 billion due to Covid-19 pandemic
UEFA Revenues Fall: Big setback for UEFA, revenues fall by US$984 million from the US$4.63 billion due to Covid-19 pandemic

UEFA Revenues Fall – Setback for UEFA: The European soccer’s governing body UEFA has suffered a big setback on commercial front due to Covid-19. The UEFA’s revenues have fallen to US$3.65 billion for the financial year ending 30th June 2020.The figure was down approximately US$984 million from the US$4.63 billion generated during the 2018/19 season as the Covid-19 pandemic brought the European soccer calendar to a standstill.

Despite the ‘unexpected dent’ caused by Covid-19, the Nyon-based organisation described revenue of more than €3 billion as ‘remarkable’.

UEFA Revenues Fall – Setback for UEFA: UEFA cited the lower number of matches, rebates paid to broadcasters and commercial partners, and games played without fans as reasons for the revenue decrease.

Also Read: European Super League to reshape project after withdrawals by PL clubs

At US$3.11 billion, media rights revenue accounts for just over 85 per cent of Uefa’s total turnover, while income from commercial rights such as sponsorship and licensing stands at US$501.6 million.

UEFA made nearly 90 per cent of its money during the 2019/20 season from club tournaments such as the Uefa Champions League and Europa League.

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UEFA’s latest financial results were published on the same day that plans for a breakaway European Super League (ESL) started to unravel.

Big threat for UEFA, European Super League deferred, 8 of top clubs withdraw but Real Madrid president Florentino Perez still defiant

Even as 10 of the 12 founding members of the European Super League withdrew after severe backlash from fans and former players, Real Madrid president Florentino Perez stressed that the breakaway league is far from dead. Florentino Perez said the Super League is on standby and the stakeholders are working towards creating a “very similar” competition in the near future.

Also Read: ESL: FIFA President ‘strongly disapproves’ creation of European Super League

Pérez, who would have been the new league’s founding chairman, said the clubs behind the Super League will continue working on a way to make the competition work, even if changes have to be made to its format.

Perez said the group is open to discussing ideas with European football’s governing body and other entities to help the game amid the coronavirus pandemic.

“We are going to keep working,” Pérez told Spanish radio network SER in an interview.
“We are looking for ways of getting this done. It would be a shame not to get it done.”

The Super League was announced on Sunday but essentially folded after the English clubs involved in the project pulled out Tuesday amid escalating backlash from their supporters.
On Wednesday, Atlético Madrid and the three Italian clubs in the project – Juventus, AC Milan and Inter Milan – also opted out. That left Real Madrid and Barcelona as the only clubs still officially in the new league.