€ 1.1bn in losses for clubs in 2012 (down 35%)

UEFA (Union of European Football Associations) published its sixth Club Licensing Benchmarking Report on 17/04/2014. The document analyses the 2012 financial year performance of the 696 clubs of the top divisions of the 53 UEFA member associations (Gibraltar, the 54^th, only just joined UEFA in spring 2014), and, for the first time since its inception, the cash flows of these clubs.

It also reviews the 1,700 management changes made by European clubs from 2010 to 2013, as well as their transfers from 2010 to 2014. Finally, the report analyses agents' commissions and players' contracts, changes in clubs' payrolls and revenue, and European stadiums' attendance.

"The report gives positive signs that financial fair play is having an impact on the European club football landscape. The figures analysed from almost 700 clubs show more owners fully committing their money to clubs, rather than lending it, and almost €600m lower losses than in each of the two previous years," UEFA stated on 17/04/2014.

"While such figures are encouraging, there is still considerable work to be done in reducing…