UEFA: Half of clubs making loss
UEFA is set to reveal that a staggering half of Europe's leading football clubs are making a loss with 20 per cent making 'huge' losses.
UEFA's general secretary Gianni Infantino made the announcement with European football's governing body set to publish a report next month to reveal the scale of the problem before bringing in tougher regulations later this year.
"One could say if a club goes bust 'who cares?'. But we care. We care for that club and all the other clubs who would have problems because one club has gone and not paid them and then there is a spiral," Infantino told Reuters.
"We are doing this after very detailed research which we will publish next month. Our report has analysed 650 clubs all over Europe and it shows around 50 percent of those clubs are making losses every year - and 20 percent are making huge losses every year.
"Huge losses mean more than 20 per cent of their revenue. It also shows of these 650 clubs more than one-third are spending 70 per cent or more of their income on salaries only - which is worrying."
New UEFA rules will be part of European club licensing regulations. From the 2013-14 season clubs must break even or risk facing exclusion from the Champions and Europa Leagues.