UEFA news

UEFA says clubs show record losses

February 4, 2013
By Associated Press
LONDON -- UEFA says losses across European soccer clubs are ballooning as player salaries soar, despite the economic crisis engulfing the continent.

A report shows losses by top division clubs tripled over five years to a record $2.3 billion, and the cost of paying players leapt 40 percent to $11.2 billion.

But in the 2011 financial year, UEFA found the total debt of the 654 clubs' accounts analyzed dropped by around 10 percent to $10.5 billion.

However, 62 percent ...

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