A number of European football leagues are running into financial deficits due to the worldwide epidemic. After leaving the meeting open last week, UEFA has announced the latest to the fate of the C1 and Europa League this season.
The shock of European football lost 4 billion euros: 6 months of mass bankruptcy
The epidemic is affecting the whole world and football is not the only field that will be badly damaged by the epidemic. The global economy in the next 3 months is forecast to be stagnant, and unfortunately, many businesses are also in danger of falling into debt, or even bankruptcy.
European football clubs are considered not to be out of that vortex, and the country most affected is expected to be France. Saint-Etienne Club’s Supervisory Board Chairman, Bernard Caiazzo, said that in the next 6 months if football activities do not continue, there will be a series of clubs in Ligue 1 and Ligue 2 must go bankrupt.
“I am worried about every club. Without the support of the Government within 6 months half of the professional clubs in France may no longer exist or have to transfer their owners, the second thing is unlikely to happen now, ”he said. Caiazzo said.
Currently, the top 5 European football leagues have lost 4 billion euros after a delay in football, of which Ligue 1 lost 600 million euros. The French league is considered the most difficult to live for clubs due to the high corporate tax rate in France, European football clubs or the sale of players to cover the cost of Paris Saint-Germain, with abundant resources from Qatar, dominated Ligue 1 for the past decade.
Before the epidemic situation, the Lyon club decided to use subsidies from the Government fund to pay part of the salaries of the players, coaching staff and other staff in the club. However, the actual amount of “apart” that only about 6,000 euros/month per person, quite little compared to the salary of the players.
According to ESPN, clubs in five European football leagues currently average an average of 250 million euros a month. For leagues that aren’t as big as Ligue 1 and the Bundesliga, they will have to hope to make a cut to finish the season before June 30, every hope of making money depends on the league and the national cup and European Cup no longer matters.
With tournaments like the Premier League, Serie A and La Liga, these can be delayed after June 30 because most clubs have relatively stable revenues, especially the Premier League. However, some teams in La Liga and Serie A can not maintain this situation for a long time and if they go bankrupt, the tournament will be subject to big changes.
UEFA makes the latest decision for the C1 Cup: When will the delay over?
At the meeting of the European Football Council (UEFA) last week, the decision to postpone the UEFA EURO 2020 to 2021 was made and reached a high consensus from the parties. The cause of this abnormality is that the epidemic virus is spreading rapidly in the “old continent”.
However, the fate of the UEFA Champions League and the Europa football League is still left without a consensus from the parties. Earlier, the press reported that UEFA is expected to reschedule the Champions League final from May 30 to June 27, 2020. Similarly, the Europa League will shift the time for the final from May 27 to June 24, but no decision has been made.
Another option that is considered is that the tournament will be shortened from the semi-finals (playing only one game instead of two turns as usual) but it was not approved.
Less than a week after the verdict, the Covid-19 epidemic increased sharply in Europe especially in some countries such as Italy, Spain and Germany. Currently, the number of infected people in Italy has exceeded 60,000 and there is no sign of decline. It is also the country with the highest death toll from the epidemic virus in the world (more than 6,000 people). https://thenewssports.net/