The Business of Sports Management

January 3 – Belgian club Standard Liège have posted more than €20 million in losses for the 2022-23 season, bringing further damages to its finances and threatening the club’s future. 
On Wednesday, the club’s accounts were published by Belgium’s national bank, revealing a loss of €20.3 million, topping the €20.2 million loss in the 2021-22 season. Club debts has risen to €24 million.

The WRU records a £4.3m loss for the year ending June 2023, with £1.9m given to departing employees, including £480,000 to former chief executive Steve Phillips.

The International Cycling Union has become the latest International
Sports Federation to post accounts showing that its financial
performance was impacted in 2022 by investment portfolio losses.

LaLiga, the organising body of the top two tiers of Spanish football, has announced that club income for the 2021-22 season totalled €4.84bn ($5.34bn) as the return of fans to stadiums saw the figure…

January 31 – The financial effects of the covid pandemic on Europe’s leading clubs is becoming more measurable with an analysis of 20 clubs showing an annual average decrease of €45 million.
The research, by the KPMG Football Benchmark team takes the accounts for 20 clubs for the 2018/19 financial year and compares them against the averaged financials for the following two covid-affected seasons.

September 20 – Juventus have recorded a mammoth loss of €209.9 million for the 2020/21 season, but still remain convinced of a future European Super League as the solution to the club’s deep financial problems. 
The pandemic has ravaged the Turin-based club, whose losses of nearly €210 million represents the biggest annual financial loss in the history of Serie A, eclipsing AC Milan’s €206 million in the 2006/07 season.

This chart shows top-tier UEFA soccer clubs by type of revenue lost due to the Covid-19 pandemic.

September 17 – A week after European Club Association chair and Juventus boss Andrea Agnelli warned of a two year €4 billion Covid cash crisis for clubs, his own team have announced a third year of losses.
Juventus posted a deficit of €71.4 million for the year ending 30 June 2020. Revenues dropped for the 2019/2020 season to €573.4 million, from €621.4 million the previous year.
The impact of the coronavirus pandemic on match day and merchandise income was balmed for having the severest impact on the figures.

Following the announcement of substantial losses by UK Athletics,
former Olympic heptathlon champion, Mrs. Denise Lewis, has been
appointed President of UK Athletics.

October 10 – Financially beleaguered Juventus have reported a loss of €123.7 million for the year ending 30 June 2023, an improvement of more than 50% on the previous year but still a huge deficit that has helped push net financial debt to €399.9 million.
Alongside the losses the club announced a capital increase raising up to €200 million.
The news hammered the club’s stock market price on the Euronext Milan which saw a fall of 8.86% to €0.2572. Read more …

World Aquatics has posted an annual loss for 2022 of $16.4 million -
about half the level it forecast in December.

January 14 – KPMG Football Benchmark’s European Champions Report 2022 gives another snapshot of the disruptive impact the coronavirus pandemic has had on club finances over the past year.
It is the sixth time that KPMG has analysed the financial performance of the champion clubs in eight European leagues, this time looking at Manchester City, Atlético de Madrid, FC Bayern München, FC Internazionale, LOSC Lille, AFC Ajax, Sporting Clube de Portugal and Beşiktaş JK for the financial year which ended in May/June 2021.

February 26 – Juventus’s plummeting revenue due to the Covid-19 pandemic has resulted in a loss of €113 million for the first six months of the 2020-21 season.
“At present, the 2020/2021 financial year is expected to result in a loss given that, unlike the previous one, it will be entirely influenced by the effects of the pandemic,” said Juventus in a statement.
Last year, Juventus recorded a loss of €50.3 million for the corresponding period.

September 29 – After the government rejected Italian football’s proposal for more fans to be allowed at stadiums, Serie A boss Luigi De Siervo (pictured)  has said that the top flight has lost more than €500 million because of the coronavirus pandemic.
Italian football had pushed for lifting the current limit of 1,000 fans at Serie A matches, but the government didn’t green light the proposal over coronavirus concerns. The decision will further limit matchday revenue for Italian clubs, ...