Several concessions North American professional sports are struggling to make ends meet, but that's nothing compared to what is happening in Europe, where 56% of the 733 courses in the first division had a loss in 2009. We can say - with or without play of words - it is wrong ...
The first report on the finances clubs - since the adoption of the principle of fair play Financial - Union of European Football Associations (UEFA), training of first division of the 53 member countries have yet spent more money than they earned in 2009, which resulted in an overall deficit of 1.2 billion euros (1.6 billion CAD) - 12.9 billion euros of expenditure against 11.7 billion euros in revenues.
astronomical This deficit represents an increase of 85% compared to 2008 while 48% of teams significant losses were announced.
UEFA has not revealed the name of the concessions in the greatest difficulty, but he indicated that only four of the 30 "big clubs" had shown at least a financial balance. It is a degradation compared to the previous year (2008), whereas only 37% of these "big clubs" were "in the red (55% in 2009).
"The principle of fair play Financial does not make clubs in trouble, but to help them get out of a downward spiral, "said recently the president of UEFA, Michel Platini.
"This would not only help to point fingers," said one who has made fiscal consolidation clubs one of the priorities of his mandate.
To read the rest of this column posted on the site Ruefrontenac.com, click here.
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