With total revenues of most clubs still below their pre-pandemic levels in an industry characterised by a predominantly rigid cost structure, most champions recorded significant losses for the financial year which ended in May/June 2021, according to the 6th edition of KPMG Football Benchmark’s The European Champions Report.

Operating revenues were hit hard by a nearly complete loss of matchday income and could not make up for generally high staff costs and decreasing player trading income despite broadcast revenues. Revenue growth figures were mostly related to broadcasting income impacted by the delayed payments for matches postponed in the previous, 2019/20 season.