Soccer-COVID pandemic cost European clubs 7 billion euros: UEFA study

(Reuters) - A study by governing body UEFA showed the COVID-19 pandemic cost European clubs seven billion euros ($7.91 billion) across two seasons even as player wages at top sides rose by 2% to 11.9 billion euros ($13.45 billion) during the period.

Top-flight clubs suffered losses worth four billion euros ($4.52 billion) in 2021, up from three billion euros ($3.39 billion) the previous year.

The majority of losses came due to empty stadiums, with revenues from ticket sales falling by 88% in 2020-21. Transfer revenues also took a tumble, dropping by 40%.

British media said the report, which included 724 clubs across 54 top divisions in Europe, added that 900 million euros ($1.02 billion) was given in rebates to broadcasters, while sponsorship revenue plummeted by 1.7 billion euros ($1.92 billion).

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UEFA President Aleksander Ceferin, however, said there was reason for optimism with fans returning