European first division clubs' cash reserves decreased by €107m (down 8.5%) from 2011 (€1.264bn) to 2012 (€1.157bn), but they were generally positive, according to the Sixth Club Licensing Benchmarking Report, published by UEFA (Union of European Football Associations) on 17/04/2014.
The European body analysed the cash flows of 581 of the 696...
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