US News Seifert attacks Europe's top clubs: "Money-burning machines"
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Christian Seifert denounced the financial practices of top European clubs in an unusually sharp interview.
The head of the DFL described "some of these so-called super-clubs" as "poorly managed money-burning machines" at a football business industry summit organized by the "Financial Times".
Even the tense economic situation of European professional football caused by the Corona did not lead to contain financial excesses. According to the 51-year-old, "the brutal truth" is that these clubs are "burning the money as they have burned it in the past ten years".
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"The brutal truth is that they are burning the money as they have burned it for the past ten years." - Christian Seifert
Without naming clubs, Seifert should have targeted the Spanish top clubs Real Madrid and FC Barcelona, among others. The duo is also one of the strongest advocates of the controversial European super league in order to generate even more money from such a competitive format. "If I were an investor, I would ask myself whether they would be the right partners," said Seifert. He also praised UEFA because the European Football Association recently simply banned the Super League.
The corona crisis can be clearly seen in the balance sheets of the particularly well-known clubs. Juventus Turin reported a loss of 89.7 million euros for the past financial year. At Paris Saint-Germain it was 125.8 million. The financial situation of five-time Champions League winners FC Barcelona, which after a minus of 97 million in the 2019/20 season, only revealed its current debt level in January: 1.17 billion euros, of which 730.6 million in the short term, is particularly tense to be settled.
The mountain of debt has also grown among royals from Madrid. According to media reports, the record champions' debt is around 900 million euros.
The financial misery of the two Spanish top clubs from Barcelona and Madrid also made itself felt in the most recent transfer phase, when both barely appeared.
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