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European clubs clock up €1.2bn loss in 2009

By Reuters

Europe's first division clubs made a loss of €1.2 billion ($1.55 billion) between them in 2009 emphasising the need for curbs on spending, UEFA said on Tuesday.

UEFA general secretary Gianni Infantino said that although Europe's 733 top-flight clubs raked in €11.7 billion, a rise of 4.8 per cent over the previous year, they spent €12.9 billion, a rise of 9.3 per cent.

UEFA last year introduced its Financial Fair Play policy in an attempt to make clubs live within their means.

Clubs could ultimately be barred from European competition, starting from the 2014/5 season, if they do not comply with the new rules.