Its revenues grew in the 2020-2021 season Football defeats Corona

European football revenue grew by 10% in the 2020-2021 season, despite the almost complete absence of fans in the stadiums.

The season was unparalleled due to the Covid pandemic that has slashed almost all revenue, but the annual review of football financing from international accounting firm Deloitte showed that the industry held out across the continent with total revenue of €27.6 billion.

The top five leagues in England, Spain, Germany, Italy and France enjoyed a 3% increase in revenue, with the Italian league up 23% to 2.5 billion euros, and the English Premier League by 8% to 5.5 billion euros.

The report said that postponed broadcast revenue from the previous season - 48% in the case of the Italian league, and the success of the postponed Euro 2020 tournament - which was played across the continent in 2021 - were behind the rise in European revenues.

“Clubs across Europe have played a large proportion of matches behind closed doors or at reduced capacity, causing an almost complete loss of match revenue,” said Tim Bridge, principal partner in Deloitte's sports business group.

"It is a testament to the industry's resilience, the value-driven broadcasting deals and the success of the Euro, and indicates that the European football market has achieved stubborn growth in terms of revenue over the past year," he added.

But beyond the impressive numbers, the picture is not all rosy.

The German Bundesliga (Bundesliga) announced a 6% drop in combined revenue to 3 billion euros, while the Spanish League shrank by 6%.

Of the top five leagues, only the Premier League saw clubs' cumulative operating profit increase, from £49m to £479m.

And although combined net debt in the Premier League in England rose by just 4% to £4.1 billion in 2020-2021, debt in the second-tier Championship increased by 32%, with wage costs exceeding revenue for the fourth year in a row.

"It is important not to overlook the loss of many clubs," Bridge said.

Although only 4 clubs in the Premier League recorded profits before tax in the 2020-2021 season, it is still in a good position to maintain its position as the strongest league in Europe, with Deloitte expecting its revenues to exceed 6 billion pounds this season.

"With the Premier League entering its fourth decade, it is ahead of the competition more than ever, having emerged from the pandemic without a significant increase in net debt as many had expected," Bridge said.