Munich, Jan. 12 (BNA): Bayern Munich was the only title winner in Europe’s eight major leagues to make a profit in the 2020-21 season, which was disrupted by the Corona virus, a study conducted by auditing company KPMG showed today, Wednesday.
The Bundesliga champions made an after-tax profit of 1.8 million euros ($2.0 million), also registering the lowest ratio of staff costs to operating revenue at 58%, Reuters reports.
“While the reopening of stadiums and some major business deals recently signed may provide some optimism… the pandemic has only amplified issues of financial sustainability and the fragility of the football ecosystem,” said Andrea Sartori, KPMG’s global head of sport.
Embodying those problems, Serie A winner Inter Milan posted an annual loss of 245.6 million euros on operating revenue of 347.5 million, while La Liga champions Atletico Madrid lost 111.7 million euros on revenue of 349.6 million.
The study showed that Manchester City, the English Premier League champion, topped the list of revenues, as it achieved 644.2 million euros, an increase of 17% over the previous season.
City, who reached the Champions League final, beat local rivals Manchester United (557 million euros) for the first time.
Bayern came in second place behind City, with revenues of 597.5 million euros, while Besiktas, the winner of the Turkish Super League, achieved the lowest revenue among the eight champion clubs, with revenues of 59 million euros.
Six clubs increased broadcast revenue, taking advantage of deferred income related to matches postponed from the 2019-20 season and played after June 2020.