Thursday April 23 2020
Galliani: 'Top clubs risk bankruptcy'

Monza CEO Adriano Galliani claims top clubs in Europe risk bankruptcy due to the lack of revenue during the forced break.

The former Milan chief executive is worried about the financial situation in European football and says football faces a ‘problem that’s not fully understood’.

“The accounts are blown up in the air because of the clubs’ debt and the loss of TV revenues” he told Telelombardia. “The situation is potentially dramatic.

"It’s not only the last instalment of TV rights that is missing, there are no stadium revenues. And the €400m that UEFA has yet to distribute for the European Cups. The top clubs in Europe risk bankruptcy, the reductions in salaries won’t be enough.

"Think that from the official store alone, Barcelona collects €50m since Camp Nou is the second most visited stadium in Spain.

“However, it causes an incalculable damage. UEFA has lost a mountain of money due to the postponement of the European Championship. The Olympic village of Tokyo was to be transformed into public housing and now it cannot be done. It’s a problem that’s not fully understood.