‘One in 8’ European Soccer Teams Have Doubtful Future
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More than one in eight top-tier European soccer clubs have doubts about remaining a going concern, continental ruling body UEFA said on its website, citing auditor reports from the 2009 financial year.
While total revenue of teams in the top divisions climbed to a record 11.7 billion euros ($15.1 billion), their net losses almost doubled to 1.2 billion euros, UEFA said, adding there was “massive” spending on player wages.