General view of Bayern Munich players on the pitch before the match against VfL Bochum at Allianz Arena, Munich September 18, 2021. — Reuters pic
LONDON, Jan 12 — Bayern Munich were the only title winners in Europe’s eight major football leagues to turn a profit in the coronavirus-disrupted 2020/21 season, a study from auditing firm KPMG showed on Wednesday.
The Bundesliga champions just scraped into the black with an after tax profit of EUR1.8 million ($2.0 million), also recording the lowest ratio of staff costs to operating revenue at 58 per cent.
“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 winners Inter Milan posted an annual loss of EUR245.6 million on operating revenues of EUR347.5 million, with La Liga champions Atletico Madrid losing EUR111.7 million on revenues of EUR349.6 million.
Topping the revenue table were Premier League champions Manchester City, generating EUR644.2 million, a rise of 17 per cent from the previous season, the study showed.
City, who reached the final of the Champions League, also leapfrogged local rivals Manchester United (EUR557 million) for the first time.
Bayern were second behind City with revenues of EUR597.5 million, while Turkish Super Lig winners Besiktas had the lowest revenue among the eight champion clubs with EUR59 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