BAYERN Munich was the only title winner in Europe’s eight major soccer leagues to turn a profit in the coronavirus-disrupted 2020-2021 season, a study from auditing firm KPMG showed on Wednesday.
The Bundesliga champions just scraped into the black with an after tax profit of €1.8 million ($2.0 million), also recording the lowest ratio of staff costs to operating revenue at 58%.
“While the reopening of stadia and some major commercial deals signed recently may provide some optimism… the pandemic only magnified the financial sustainability issues and fragility of the football ecosystem,” KPMG’s global head of sports Andrea Sartori said.
Exemplifying those problems, Serie A winner Inter Milan posted an annual loss of €245.6 million on operating revenues of €347.5 million, with La Liga champion Atletico Madrid losing €111.7 million on revenues of €349.6 million.
Topping the revenue table were Premier League champion Manchester City, generating €644.2 million, a rise of 17% from the previous season, the study showed.
City, who reached the final of the Champions League, also leapfrogged local rival Manchester United (€557 million) for the first time.
Bayern were second behind City with revenues of €597.5 million, while Turkish Super Lig winner Besiktas had the lowest revenue among the eight champion clubs with €59 million.
Six of the clubs increased broadcasting revenues, benefiting from deferred income related to matches postponed from the 2019-20 season and played after June 2020. — Reuters
