Watching football matches in European stadiums is always a joyful experience. But the coronavirus outbreak has resulted in significant changes in people's daily lives for the last year. All football leagues in Europe are being held behind closed doors after the World Health Organization (WHO) declared the coronavirus an epidemic in March 2020. According to a study, the combined loss of Europe's major football clubs due to covid-19 is more than 1 billion euros. This shows the extent of the pandemic's impact on European football! This article discusses how European football is badly affected by the pandemic covid-19.
The brunt of covid-19 on European football
On March 11, 2020, the World Health Organization declared the novel Coronavirus outbreak a global pandemic. Since then the major football leagues in Europe are being played in empty stadiums.
Initially, any limitations on sporting events were ruled out by the British government. But after large outbreaks at Arsenal and Chelsea, the Premier League ultimately agreed to take a 100-day break.
The domestic leagues in Spain, France, Italy, and Germany were postponed following government directives and the rest of Europe's top leagues took long breaks as well.
Euro 2020 was suspended for one year, while Europe's most prestigious club football competition champions league 2020 completed in the month of August.
Fans were allowed to return to the stadium at the beginning of the year but the plan halted after the second wave of the covid-19 virus and the spread of new variants caused new lockdowns across Europe.
There was a concern that teams will go bankrupt due to the stop of ticket sales, but thankfully clubs have managed to recover some initial losses. We can expect fans will return to the field soon following the start of mass vaccination programs across Europe.
The financial effects on European football due to covid-19
The loss of matchday and commercial revenue as a result of the scheduling delays has had a substantial effect on European football.
The finances of 43 European clubs were investigated by KPMG, an accounting firm, and it was discovered that net profits dropped 1.2 billion euros last season.
Barcelona, Juventus, and Arsenal are among the top clubs trying to convince their star-studded players to take salary cuts as a result of the covid-19.
Among Europe's elite clubs, Barcelona are in a real crisis. Their current debt is in excess of $1 billion. While, according to the reports, the Premier League clubs are losing nearly $150 million every month because of the ongoing pandemic situation.
Because of the epidemic, clubs are unable to spend as much as they used to at transfer windows.In the January transfer window, just $327 million was traded, less than half of what was invested in the previous transfer window.
Besides that, the European Football Association suffered a significant financial loss after the cancellation of Euro 2020. To compensate for the deficit, they want at least half of the stadium's overall capacity to be filled during the forthcoming tournament. Only time will tell if this is even possible especially in the midst of the second wave covid-19 across Europe.
The epidemic has resulted in significant financial losses in sponsor and broadcasting deals.However, it is anticipated that the damage predicted at the beginning of the lockdown did not happen.
European football leagues are among the most popular sporting events in the world.Billions of euros are spent on the clubs every season.But European football is badly affected by the covid-19. Football leagues in Europe were suspended due to lockdown between March and May 2020.The spectator is a major source of revenue for the clubs.
However, since the games are played behind closed doors, the clubs have missed out on millions of dollars in ticket revenue. Furthermore, due to the economic downturn affected by the pandemic, players are not being traded significantly during the transfer window.Clubs are now more relying on their own academies to form first-team squads. The recession is expected to last much longer unless the coronavirus outbreak is contained.
Source: United News of Bangladesh