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Finance

23 januari 2015

CxO redactie

Door CxO redactie

Football clubs play major role in local economy

Deloitte's picture of football's financial Shangri-La not enough to fool top clubs

Deloitte's picture of football's financial Shangri-La not enough to fool top clubs
Last week, around the time Portsmouth's lawyers were facing the taxman in the High Court, an executive from accountants Deloitte stepped on stage at the Soccerex convention in Manchester and presented a picture of the game's finances so rosy that it seemed to hail from a parallel universe.

Dan Jones, a partner in Deloitte's sports business group, could barely conceal his glee as he presented a league table ranking European clubs purely on revenue.

Last year Real Madrid turned over more than 400 million euros (£363 million), the first sports club ever to do so, while Barcelona were not far behind having leapfrogged Manchester United.

Thanks in part to the Champions League - the money-making machine that returns this week - total revenues for the top 20, which includes seven Premier League clubs, reached 3.9 billion euros (£3.5 billion).

There was even a reassuring slide demonstrating football's positive performance relative to the major European economies.

Deloitte's interest in talking up this recession-proof Shangri-La is plain. As football's self-styled accountants of choice, they act for some of the biggest clubs and gain valuable PR from their reviews of football finance, which slice-and-dice published accounts into useful reference form.

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Source: The Telegraph

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