UEFA Annual and Financial Reports 2020/21: What we do and how we do it

Thursday, June 9, 2022

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UEFA’s latest Annual and Financial Reports both offer timely reminders of how the European body applies the values of the European sports model at all levels of the football pyramid.

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UEFA's 2020/21 Annual Report reviews another fascinating year

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The European sports model forms the foundations on which most of our continent’s sports institutions, organisations and governing bodies are built. Its pyramid structure works on the premise that revenue generated at the top by professional competition is reinvested back into the game at all levels. It also recognises the sport’s contribution to society beyond the pitch, whether through education, innovation, sustainability or breaking down barriers.

The 2020/21 UEFA Financial Report

The 2020/21 editions of both our Annual and Financial Reports (plus the Financial Report annex ) are packed with data, stories and graphics that show how UEFA lives the values of this model in every aspect of its mission.

Organising seven elite competitions amid a pandemic

The two opening sections of the Annual Report ( pages 10-41 ) reveal the specialist skills, coordination and collaboration required to successfully stage 1,400 club and national team matches across Europe during a health crisis, culminating with Italy’s victory at UEFA EURO 2020.

Redistributing our revenue to the football community

Graphics in both the Annual Report ( page 6 ) and the Financial Report (page 5) show clearly how UEFA, a not-for-profit organisation, redistributes the majority of income from its elite competitions back into the game to benefit all of Europe’s national associations.

Developing football at all levels of the pyramid

A dedicated chapter ( Annual Report, pages 44-59 ) provides a comprehensive overview of how UEFA development programmes strengthen all aspects of the beautiful game: building training facilities, growing women’s football, running coach and referee courses, and encouraging everyone to get involved in grassroots football.

Supporting positive social change off the pitch

‘Making football sustainable’ ( Annual Report, pages 72-75 ) explains how UEFA is laying the groundwork to ensure that our sport’s pan-European popularity plays a game-changing role in tackling human rights and environmental issues.

Preparing for the future

The Annual Report is packed with examples of how UEFA works behind the scenes to ensure that European football stays ahead of the game, whether adapting to change or setting new standards: grassroots coaching diploma ( pages 56-57 ), anti-discrimination training for referees ( page 41 ), anti-match-fixing measures ( pages 78-79 ) and the evolution of club competitions ( pages 64-67 ).

uefa financial report 2011/12

Financial Report 2010/11 XXXVI Ordinary UEFA Congress Istanbul, 22 March 2012 WE CARE ABOUT FOOTBALL TABLE OF contents

I. Facts and figures 16 Equity evolution 17 The four-year cycle 1 Foreword by the UEFA President 18 UEFA Champions League 2 A financial strategy to reflect UEFA’s 22 UEFA Europa League core values 26 Result by activities 3 Highlights of the 2010/11 financial year 4 Income statement 6 source of income 8 Use of income 10 governing expenses II. Annex 11 Solidarity • notes and explanations to the annual 12 The flow of UEFA solidarity payments financial statements 14 Balance sheet • Auditor’s reports

© UEFA — Cover Photo: © LOC Poland – M. Bakiewicz Financial Report 2010/11

Foreword by the UEFA President

The reader is, of course, invited to draw his It was therefore an important feature of the or her own conclusions. But, in my opinion, 2010/11 campaign that UEFA was able to provide UEFA’s financial report for the 2010/11 season advance confirmation that the conditions for the is remarkably satisfactory. In a period of HatTrick III programme would be higher than in exceptional turbulence in the European and the past. The announcement paved the way for global economies, UEFA managed to negotiate forward planning and, as a knock-on benefit, the stormy waters on an even keel. gave national associations greater scope in establishing joint ventures with other This report not only contains figures which stakeholders. reflect and confirm this fact. It also contains words and paragraphs which might have a At the same time, it was a striking feature of familiar ring to readers of last year’s report. the year that, thanks to higher income from I am proud of that. In literature or journalism, the broadcasters and commercial partners repeating oneself might be frowned upon. which supported UEFA’s competitions during But in UEFA’s financial report, to reiterate core the season under review, distribution of income concepts is to be like a team that, through thick to participating teams reached a landmark by and thin, remains faithful to a well-defined surpassing the € 1 billion mark for the first time playing philosophy. – and this was in a year when there was no distribution of revenue generated by a EURO To maintain stability during a period of crisis in final round. financial markets represented a challenge. Risk assessment was a continuous process and assets At a time when financial fairplay has become a were spread in many directions. The strategy crucial issue and when we are working hard to was effective, but as the 2010/11 campaign eliminate fraud and betting irregularities from closed and when this report went to print, the ‘the beautiful game’, it is even more important objective was still to remain alert and to achieve for UEFA to assume role-model status. This similarly good results in the next. report aims to provide a clear impression of what the people responsible for UEFA’s finances, UEFA’s mission is always to put football first, to under the guidance of the Finance Committee, run our competitions as efficiently as possible are striving for: to make sure that financial and to provide the best possible stage on which assets are effectively converted into support for the top performers can generate the emotions, member associations and into the promotion of intensity and entertainment which, in times of social benefits, and to offer confirmation that, crisis and anxiety, have an even greater value irrespective of changes in the financial climate, within society. This financial report tells us UEFA continues to care about football. whether we have achieved this in a responsible way, with sufficient expertise to create income Michel Platini which UEFA can re-invest in the game of football UEFA President and its future.

1 A financial strategy to reflect UEFA’s core values

Associating the Beatles with UEFA’s financial report UEFA is committed to good governance and to might seem little short of outrageous. But the heart the promotion of good governance throughout of football is the love for the game – the love of its member associations. Leadership in this sphere playing it and the love of watching it. This is where implies responsibilities and duties. UEFA’s finances the Beatles might enter the equation. The view that must therefore aim to demonstrate that good “money can’t buy me love” could be part of UEFA’s governance begins at home. mission statement and a fundamental point to make UEFA is committed to maintaining and enhancing when presenting the financial summary of the the balance between national team and club football 2010/11 season. as complementary elements within the game. The The first of UEFA’s 11 core values is to put football distribution of financial resources therefore needs to first. The philosophy is to make sure that football is achieve an equitable balance between the two. “UEFA’s economic status must be an illustration of financial fair play in terms of responsibility, fairness and transparency.” about sport, about games, about entertainment UEFA is committed to safeguarding sporting integrity and about enjoyment rather than something that and preserving the true spirit of the game while boils down to business, markets and products. running its competitions in an efficient way and to As a not-for-profit organisation, UEFA is not about optimise revenues from commercial contracts to accumulating money but rather about using income benefit and develop European football. The financial in ways which will protect and enhance people’s love results offer an indication as to whether sporting and for the game. Income needs to be treated as a means business criteria have been successfully married and rather than an end. It is a vehicle which can be driven whether these objectives have been achieved. towards a goal of giving pleasure and entertainment UEFA is committed to promoting fair play both on to millions, offering opportunities at grassroots level and off the pitch. Financial fair play is high on the for people of all ages to enjoy the game, or seeing agenda and, if UEFA is to lead European football in the the immense social benefits of a sport which unites right direction and provide top-class administrative people while promoting values based on integrity support, UEFA’s economic status must be an illustration and respect. of financial fair play in terms of responsibility, fairness This is why UEFA sees its annual financial report as and transparency. much more than a series of figures presented in debit This adds up to an obligation for UEFA, in the pages and credit columns. It is a publication which has to of this financial report for the 2010/11 exercise, to reflect UEFA’s attention to core values. set out the financial results with transparency, to UEFA is committed to strengthening solidarity, to provide clear indications of where income comes protect the future of the game and to maximise from and where it goes to, and to illustrate that, the benefits that football can offer to society as a even if “money can’t buy me love”, it can be used whole. UEFA’s finances therefore need to reflect and in ways which nurture love for the world’s most highlight the concept of solidarity. popular game. © UEFA © UEFA

2 Financial Report 2010/11

Highlights of the 2010/11 financial year

It could be argued that, in tune with the action on With regard to aspects of UEFA’s internal the field of play, the financial years between World administration, the management of financial assets Cups and European Football Championship (EURO) in 2010/11 was not an easy task in a climate of final rounds tend to be less spectacular. But the constant uncertainty in the markets, with European 2010/11 season at UEFA was marked by the countries and banks making headlines for negative following significant events: reasons. UEFA’s strategy of opting for wide diversification among the best-rated banks was • The EURO 2012 qualifiers kicked off with considered the most appropriate response to the 51 national teams eager to join Poland and situation. Currency effects, mainly derived from the Ukraine on the match schedule for the final relationships between the euro and the Swiss franc, round, to be played from 8 June to 1 July 2012. had significant repercussions on the 2010/11 accounts – a one-off negative effect on the net result • The two major club competitions successfully due to high non-realised currency exchange losses completed their second season of the current and a lasting positive effect in terms of UEFA’s equity three-year cycle, culminating in an unforgettable expressed in euros. UEFA Champions League final between FC Barcelona and Manchester United FC at the “With effect from 2011/12, new Wembley Stadium in London. the Euro will not only be • The final round of the UEFA European Under-21 Championship was staged in Denmark and was used as the reporting notable for the fact that some of the big currency but also as the new associations had not qualified. But Spain underlined their quality in depth by taking the official accounting currency.” title against an impressive Swiss team which had 2010/11 was the last financial year in which the reached the final for the first time. Swiss franc served as the day-to-day accounting • All of UEFA’s youth competitions were played in currency. With effect from 2011/12, the euro will the same format as in the previous season. not only be used as the reporting currency but also However, an increased financial contribution was as the new official accounting currency. UEFA’s paid by UEFA towards the travel costs of the equity, originally held in Swiss francs has, in teams competing in the intermediate and final consequence, now been converted into euros, and rounds. during a period of strength for the Swiss franc against the EU single currency, brought UEFA’s equity Off-the-pitch developments which were closely close to the € 500 million mark. related to finances included the following highlights: The 2011/12 campaign will also be marked by the • UEFA’s second office building, La Clairière, was implementation of a new integrated finance and officially inaugurated in October 2010, adding administration IT application. This was considered the 240 working places to the existing capacity at the ideal timing to bring UEFA’s accounting system even House of European Football on the opposite side closer into line with international standards. Given of the road. that advance payments for coming seasons are now • Construction of a third, adjacent office building, entered in the balance sheet directly and no longer Bois-Bougy, with 190 additional working places indirectly via the former period adjustment position, made rapid progress towards the scheduled a few 2009/10 figures – but obviously not the inauguration date of March 2012. bottom line – have changed in the restated form when compared with figures published in last year’s • The additional buildings have been designed to financial report. complete the UEFA campus in Nyon and to allow all of UEFA’s staff members to operate from a central location. The campus also features the football pitches and modern infrastructure associated with the Colovray stadium, which UEFA uses to run refereeing and coach education courses, among others.

3 Income statement

UEFA’s total 2010/11 revenue of € 1,384.5 million under review, the distribution made to the participating was slightly higher compared with the previous teams passed the € 1 billion mark for the first time. year. With effect from this financial year and in This level had not been reached even in the 2007/08 anticipation of the application of international financial year, when the EURO 2008 distribution had standards, payments related to coming seasons are been included under this heading. no longer incorporated in the figures disclosed in this UEFA’s net result of minus € 85.9 million against the section but entered directly in the balance sheet – budget of minus € 75 million approved by the 2010 hence the restatement of the 2009/10 figures. “The distribution made to the participating teams passed the ¤ 1 billion mark.”

UEFA Congress was heavily marked by currency Thanks to higher income from broadcasters and exchange losses, mainly unrealised losses, however, sponsors for the competitions played during the year on which UEFA had no influence but at least valid © 2011 Getty Images

4 Financial Report 2010/11

compensation, with the weakness of the euro UEFA’s actual performance over the 2010/11 financial against the Swiss franc having a positive effect on year should therefore be measured on the basis of UEFA’s equity expressed in euros, as disclosed on the operating result. The impressive € 76.7 million page 16. Despite this year’s loss of € 85.9 million, achieved in 2010/11 is clearly higher than both the UEFA’s equity expressed in euros decreased by only 2009/10 result (€ 45 million) and the 2010/11 budget € 40.2 million over this same period and now stands (€ 45.5 million) as approved by the UEFA Congress. at € 493.7 million.

¤m 1,384.5 1,470.4

Revenue Expenses Net Result

€ m 2010/11 2009/10

Total revenue 1 384.5 1 308.8 Total event expenses - 1 193.3 - 1 156.8 thereof distribution to participating teams - 1 000.6 - 960.2 Gross result 191.2 152.0 Total personnel expenses - 44.6 - 35.3 Total other expenses - 69.9 - 71.7 Operating result 76.7 45.0 Total non-operating items 75.4 126.5 Total solidarity payments - 238.0 - 237.9 Net result - 85.9 - 66.4

5 Source of income

The composition of UEFA’s total income is further from the EURO pool, resulting for 2010/11, in a total analysed from two perspectives, by nature and by income of € 1,453.1 million. activity (competitions). In terms of income by nature, broadcasting rights continued to represent the lion’s share in 2010/11, “Broadcasting rights continued representing 75 %, with commercial rights to represent the lion’s share.” representing a further 19 %. For the first time, due to the weakness of the euro against the Swiss franc causing very high – though unrealised – In addition to the first four items on the consolidated currency losses, the asset management result did income statement, UEFA’s total income comprises its not add to but, unfortunately, reduced the amount asset management result, as well as the financing of total income.

Revenue and income by nature

Broadcasting rights 1 086.3 1 023.0 Commercial rights 275.1 273.3 Ticket and hospitality 9.1 3.3 Other revenue 14.0 9.2 Total revenue 1 384.5 1 308.8 Financial items - 30.9 18.8 EURO pool reversal 99.5 101.7 Source of income 1 453.1 1 429.3 © Sportsfile

6 Financial Report 2010/11

The table below illustrates the source of UEFA’s figures. Both these figures are higher than last year. 2010/11 income by activity, i.e. by competition. The When comparing total UEFA Europa League revenue total UEFA Champions League revenue, including with the UEFA Champions League, it should always tickets, of € 1,147.8 million represented 79 % of this be borne in mind that the UEFA Champions League total, while the UEFA Europa League accounted for took some years to acquire its current status and € 210.4 million in effective and 14.5 % in relative standards.

UEFA Champions League 6.5 % 79.0% UEFA Europa League 14.5 % Other competitions and income

Revenue and income by competition and by activity

UEFA European Football Championship 0 0 UEFA Champions League 1 147.8 1 099.4 UEFA Europa League 210.4 195.0 Other competitions and income 94.9 134.9 Source of income 1 453.1 1 429.3 © Sportsfile

7 Use of income

It is UEFA’s responsibility and obligation to use The total organisational costs of UEFA’s main income as efficiently and fairly as possible. By competitions did not change and include the UEFA far the most important share (€ 1,000.6 million) Champions League, the UEFA Europa League and the was distributed to the teams competing in UEFA UEFA Super Cup , as well as the EURO 2012 qualifiers. competitions. Details can be found on the following The organisational costs of all other competitions, pages, which disclose the competition results of both including youth and women’s competitions, as well the UEFA Champions League and the UEFA Europa as the UEFA European Under-21 Championship, are League. shown under other competitions, the total of which “UEFA's responsibility and obligation is to use income as efficiently and fairly as possible.”

UEFA is very satisfied that solidarity payments, increased in 2010/11 because of an Under-21 final including the funds made available to its member round having taken place during this period. associations through the HatTrick programme, UEFA’s governing expenses of € 62.3 million remained occupy second position in terms of use of income, under control. These figures refer to all expenses amounting to € 238 million. which are not attributed directly to a competition or The positive effect of the new accounting principles, defined projects. It is UEFA’s intention to maintain whereby EURO 2012-related revenue and expenses tight control over these governing expenses, which, are deferred to the balance sheet, is that the yearly in the long term, should not be allowed to exceed results can be compared directly over the years, as no the 4 % mark. period adjustments are included and presented under organisational costs. Therefore, the 2009/10 figures have been restated. © UEFA

8 Financial Report 2010/11

Total Distribution Solidarity Main Governing ICT and Other Football Equity competitions expenses media competitions development financed 1,453.1 1,000.6

62.3 38.3 85.9 26.6 10.3

€ m 2009/10 2010/11 in %

Distributions to main competitions teams - 960.2 - 1 000.6 6 8 . 9 % Solidarity (incl. HatTrick) - 237.9 - 238.0 16.4 % Organisation: main competitions - 162.5 - 162.9 11.2 % Organisation: other competitions - 25.2 - 26.6 1.8 % Football development (incl. education and events) - 7.9 - 10.3 0.6 % ICT and media technologies - 45.9 - 38.3 2.7 % Governing expenses - 56.1 - 62.3 4.3 % Net financing from UEFA equity 66.4 85.9 - 5.9 % Total use of income 1 429.3 1 453.1 100.0 % © UEFA

9 Governing expenses

The expenses related to the running of UEFA as a • Institutional and disciplinary proceedings: governing body can be listed under the following this heading embraces the organisation of the headings: UEFA Congress, meetings of the UEFA Executive Committee and, as the title suggests, disciplinary • UEFA administration expenses: these include proceedings, including UEFA’s commitment to personnel and other general administrative costs, activities aimed at fighting betting fraud. such as travel and office running costs, which at present are not directly allocated to a specific • Committees and panels: this area covers the competition or project. Compared with 2009/10, total costs of all of UEFA’s committees and panels. the increase in costs expressed in euros is clearly The decrease in expenses compared with 2009/10 related to the stronger Swiss franc, as most of is related to the fact that the uniforms were these expenses are invoiced in the local currency. replaced in the previous year and the investment This category also covers the maintenance and was shown under this subheading. running costs of the three buildings in Nyon. With UEFA is clearly committed to keeping governing the implementation of a new cost accounting expenses as low as possible in order to allow system in 2011/12, these allocation principles will maximum resources to be allocated to solidarity “UEFA is clearly committed to payments, football development and to the teams participating in UEFA competitions. The percentage keeping governing expenses of governing expenses in relation to total revenue is as low as possible.” closely monitored and, as highlighted elsewhere in this report, UEFA’s objective is to remain below the be adapted, given that the major part of UEFA’s 4 % benchmark. The following chart illustrates the buildings are occupied by operational units. To evolution over the years, with annual governing reflect this fact also in financial terms, the relevant expenses and average total revenue over four years costs, for example of UEFA’s competitions or set against each other. This offers the best basis for refereeing, should be charged to the relevant comparison, bearing in mind that such comparisons competitions. This change will mean lower would otherwise be distorted by UEFA European administration expenses published under this Football Championship final rounds every fourth heading and the disclosure of the total effective year. costs of UEFA competitions.

6 % Governing expenses in % of revenue Trend 5 %

1 % ACT 04/05 ACT 05/06 ACT 06/07 ACT 07/08 ACT 08/09 ACT 09/10 ACT 10/11

€ m 2007/08 2008/09 2009/10 2010/11

UEFA administration expenses 31.3 32.6 36.8 48.7 Institutional and disciplinary proceedings 12.0 12.4 16.9 11.8 Committees and panels 1.3 1.3 2.4 1.8 Total governing expenses 44.6 46.3 56.1 62.3

10 Financial Report 2010/11

In pure figures, the total made available for solidarity to a maximum number of associations and payments is the second largest after the amount teams. The sharing of resources is a boost to the distributed to participating teams, as shown in the development of the European game at grassroots use of income chart on page 9. But, more and youth levels, again in associations and clubs. importantly, solidarity payments represent a Above all, the solidarity concept is an unwritten cornerstone in UEFA’s philosophy. mutual contract aimed at developing the European football family as a whole and promoting the social “Solidarity payments values of the game. represent a cornerstone in Solidarity payments are made available to: UEFA’s philosophy.” • national associations to develop infrastructure • national associations to co-finance some of their Thanks to the concept of central marketing and, of statutory tasks course, the ever-increasing popularity of UEFA’s • national associations as incentives (participation in flagship competitions, it is possible for UEFA, as a non-top competitions, and for good governance, governing body, to generate substantial revenue. It is including club licensing project) UEFA’s objective to plough back as much as possible of these resources into European football, not only • clubs eliminated in the preliminary stages of via payments to participating teams and member the UEFA Champions League and UEFA Europa associations, but also to those which may not have League qualified to take part in the revenue-generating • other top division clubs that do not qualify for segments of UEFA’s competitions. UEFA competitions, with payments distributed This has two-fold objectives, given that reducing by the leagues or associations for youth financial gaps has the additional benefit of reducing development. sporting gaps and opening up the elite competitions

HatTrick programme

Contribution and donations 83 101 131

74 73 59 58 58 87 132 88 129 100

3 6 8 6 4 4 6 5 8 7 ¤m 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 Total 77 79 82 135 123 156 221 210 238 238

11 The flow of UEFA solidarity payments

The previous pages of this report have focused on However, the football family is not divided into two the source of the revenue used for UEFA’s solidarity sections but is an integrated, inter-related whole. As payments. But it is also important to provide an in any real family, solidarity within European football overview of all the beneficiaries of these payments. is based on mutual values – which means that “As in any real family, solidarity within European football is based on mutual values.”

The various beneficiaries are disclosed in six columns benefits are directed into club and national team on the table on the opposite page. However, the football. Inter-relationships can be illustrated by the interpretation of this information needs to take into fact that, when a EURO final round takes place every account that a portion of solidarity payments stem four years, a significant portion of the financial from revenue generated by club competitions and distribution is channelled to the clubs participating that they therefore mainly benefit club football. The in the success of the tournament. On the other hand, other part, financed by national team football and as can be seen in the chart on the opposite page, derived from EURO final rounds, is made available to a proportion of the annual income generated by national associations within the framework of the club football is injected into the EURO pool and HatTrick programme. channelled towards national associations.

Solidarity payments financed by national team football

1 The HatTrick programme for the 2008–12 four- Although not included in the association by year cycle provides for a one-off € 2.5 million association totals, the UEFA Study Group Scheme solidarity payment per association to be used for and HatTrick education are also financed via the investments in football infrastructure. The EURO pool and included in the annual solidarity total. amounts distributed during the 2010/11 financial year are disclosed in this section. In some cases, these still include payments from the first HatTrick Solidarity payments financed by club football cycle. 3 A lump sum, depending on the number of 2 The HatTrick programme also provides for yearly solidarity payments in favour of national matches played, was paid to clubs which were on associations, consisting of the following elements : the starting grid but which failed to qualify for the group stage of the UEFA Champions League, with • € 500,000 as a yearly solidarity payment to an additional amount of € 200,000 for a domestic cover current running costs champion. No payments were made to clubs • € 800,000 as a maximum yearly incentive involved in UEFA Champions League qualifying payment, including: rounds which succeeded in reaching the group – € 250,000 max. for participating in non-top stage. UEFA competitions 4 A substantial amount was made available to clubs – € 250,000 max. for implementing and not involved in European competitions for youth applying the UEFA club licensing system development. According to decisions taken by – € 100,000 max. for implementing and the relevant leagues and/or national associations, applying the UEFA Coaching Convention clubs in the domestic first division and, in some – € 100,000 max. for implementing and cases, in the second division were included in this applying the UEFA Grassroots Charter scheme. – € 100,000 max. for improving good governance 5 € 26.5 million was transferred into the EURO pool for the benefit of UEFA’s member associations. • UEFA’s contribution to the running of the Referee Convention also forms part of the 6 The formula described in paragraph 3 above was HatTrick solidarity payments. also applied to the UEFA Europa League.

12 Financial Report 2010/11

Financed by Financed by club football national team football UEFA UEFA Champions League Europa League

€ 000 1 2 3 4 5 6 Non- Total per Investment Yearly Eliminated participating Associations Eliminated country solidarity clubs clubs clubs 2 716 Albania – 1 221 330 305 500 360 2 656 Andorra – 1 296 330 260 500 270 2 719 Armenia – 1 356 330 263 500 270 3 864 Austria 575 1 361 330 468 500 630 3 077 Azerbaijan 237 1 205 330 265 500 540 3 743 Belarus 72 1 632 460 269 500 810 3 324 Belgium 250 1 381 330 503 500 360 3 257 Bosnia and Herzegovina 353 1 265 330 269 500 540 2 994 Bulgaria – 1 253 460 331 500 450 2 910 Croatia – 1 300 460 290 500 360 3 807 Cyprus 400 1 321 460 316 500 810 3 027 Czech Republic – 1 381 330 456 500 360 4 063 Denmark – 1 360 – 1 483 500 720 15 781 England – 1 414 – 13 687 500 180 2 742 Estonia – 1 381 330 261 500 270 5 601 Faroe Islands 2 925 1 316 330 260 500 270 4 101 Finland 768 1 380 460 273 500 720 7 797 France 1 350 1 341 – 4 516 500 90 4 136 FYROM 1 156 1 341 330 269 500 540 3 208 Georgia 47 1 436 330 265 500 630 9 435 Germany – 1 361 – 7 484 500 90 5 805 Greece 1 208 1 380 130 2 317 500 270 3 205 Hungary – 1 381 460 324 500 540 2 845 Iceland – 1 381 330 274 500 360 4 474 Israel 1 300 1 381 – 753 500 540 10 500 Italy – 1 380 – 8 530 500 90 2 809 Kazakhstan – 1 224 460 265 500 360 4 054 Latvia 1 287 1 406 330 261 500 270 2 085 Liechtenstein – 1 235 – 260 500 90 3 392 Lithuania 585 1 356 330 261 500 360 3 387 Luxembourg 805 1 221 330 261 500 270 2 714 Malta – 1 285 460 289 500 180 3 048 Moldova – 1 355 330 413 500 450 3 083 Montenegro 250 1 156 460 267 500 450 4 080 Netherlands 500 1 381 – 1 339 500 360 3 105 Northern Ireland 225 1 340 330 260 500 450 3 200 Norway 100 1 381 330 529 500 360 3 720 Poland 250 1 381 460 589 500 540 3 411 Portugal 243 1 305 – 1 003 500 360 3 040 Republic of Ireland – 1 381 330 379 500 450 4 240 Romania – 1 456 130 1 614 500 540 3 719 Russia 100 1 300 – 1 549 500 270 2 385 San Marino – 1 115 330 260 500 180 4 333 Scotland 298 1 361 130 1 504 500 540 3 083 Serbia – 1 380 – 753 500 450 3 639 Slovakia 680 1 346 – 753 500 360 3 426 Slovenia 492 1 381 330 273 500 450 10 001 Spain 125 1 456 – 7 920 500 – 6 035 Sweden 2 400 1 360 460 415 500 900 3 445 Switzerland 452 1 380 – 753 500 360 5 268 Turkey 750 1 341 130 2 007 500 540 3 167 Ukraine – 1 454 – 763 500 450 2 971 Wales – 1 301 460 260 500 450 222 627 TOTAL 20 183 71 243 13 300 69 891 26 500 21 510

13 Balance sheet

UEFA’s balance sheet total as at 30 June 2011 2011. Risk monitoring of these assets is performed increased substantially, by over 30 %, and now on a monthly basis. Given the importance of these stands above € 1.8 billion. Further accumulated financial assets, external expertise and a sophisticated payments related to EURO 2012 and substantial scoring list are provided by UEFA’s advisory bank to advance payments for the 2012–15 club competition best safeguard these assets, the assets of UEFA’s cycle explain this development. member associations. The structure of the balance sheet did not change significantly. The cash and cash equivalents within “Risk monitoring of these UEFA’s assets and the deferred income and advances assets is performed on a from third-party positions within UEFA’s liabilities on their own absorb the lion’s share of the variance monthly basis.” between these two financial years. UEFA’s balance sheet can be considered as very solid. Even after having absorbed the negative 2010/11 net A closer look at UEFA’s assets reveals that long-term result, equity still stands at € 493.7 million, which is securities decreased while investments in land and only € 40.2 million lower than a year ago. This is due buildings increased to achieve an even wider to the relation of the Swiss franc against the euro, diversification. The increases in projects in progress which had a one-off negative impact on the 2010/11 and inventories, as well as receivables from football net result and, in contrast, a positive effect on UEFA’s partners, are mainly related to EURO 2012. equity expressed in euros. Given that the euro The cash and cash equivalents represent becomes UEFA’s accounting currency from the € 1,069 million or roughly 60 % of the balance sheet 2011/12 financial year, UEFA equity of € 493.7 million total. By adding the € 419.5 million in long-term will be carried forward as at 1 July 2011, with the securities, UEFA’s financial assets invested with positive currency effects on UEFA’s equity expressed 22 top-rated counterparts, i.e. well-known in euros as at 30 June 2011 therefore having a international banks, amounted to € 1,488 million and permanent effect. represented 82.5 % of UEFA’s assets as at 30 June © 2011 Getty Images

14 Financial Report 2010/11

Current assets 1,244.5 1,308.6

Fixed assets 557.8 493.7

¤m Assets Liabilities UEFA equity

€ m 30/06/2011 30/06/2010

Cash and cash equivalents 1 068.8 705.0 Other current assets 175.7 86.2 Total current assets 1 244.5 791.2 Financial assets 460.9 497.5 Other fixed assets 96.9 83.1 Total fixed assets 557.8 580.6 Total assets 1 802.3 1 371.8 Current liabilities 1 292.2 815.5 Other liabilities and provisions 16.4 22.4 Total liabilities 1 308.6 837.9 Total UEFA equity 493.7 533.9 Total liabilities and UEFA equity 1 802.3 1 371.8 © UEFA

Equity evolution

The fact that UEFA recorded a negative result of Currency effects are expected to continue to € 85.9 million in 2010/11 but that its equity decreased influence UEFA’s equity as expressed in euros, only by € 40.2 million, from € 533.9 million to however, to a lesser extent, given that the euro, € 493.7 million, during the same period is currency- representing roughly 90 % of UEFA’s financial assets, related. will also serve as its accounting currency from the 2011/12 financial year. This favourable effect will UEFA’s equity is denominated in Swiss francs, have a lasting positive impact on UEFA’s equity whereas the decrease in equity, as recorded at the expressed in euros - now standing close to the end of the 2010/11 financial year, is expressed in € 500 million mark. euros. The strength of the Swiss franc against the euro on the balance sheet closure date meant that As is the case every four years, after a EURO final the amount in Swiss francs translated to a higher round, UEFA’s equity, i.e. the retained earnings equivalent when expressed in euros. The exchange position, will increase substantially in the course of rate at the end of the financial year was 1.22 Swiss 2011/12. The losses over the following three financial francs to the euro, compared with 1.32 in the years will then be offset against this same position. previous year – which explains the substantial difference.

534 508 518 494

242 256 212

¤m 30 June 2005 30 June 2006 30 June 2007 30 June 2008 30 June 2009 30 June 2010 30 June 2011

16 Financial Report 2010/11

The four-year cycle

UEFA is a not-for-profit organisation. But this From this overall € 5.5 billion, UEFA is distributing fundamental aspect is not visible if results for nearly 62 % to participating clubs and national a single financial year are considered in isolation. associations, as well as € 907 million as solidarity As previously mentioned, an exercise which embraces payments to national associations and clubs. It a EURO final round produces a positive net result, goes without saying that a considerable amount whereas years without yield a negative result. The is required to organise and run UEFA’s main competitions. If the organisational costs of other “Overall revenue and expense competitions are combined with totals for football development, education and events, another streams have to be seen over € 123 million can be seen to be reinvested a four-year financial period in football. From another perspective, costs for media technologies (including investment in the in order for a clear picture to UEFA website), the Legacy video archive system become visible.” and information technologies also go towards the development and promotion of European football. overall revenue and expense streams therefore have Governing expenses are explained in greater detail to be seen over a four-year financial period in order on page 10, where it is emphasised that less than for a clear picture to become visible. The current 4 % of the total is used for running the UEFA report is based on a cycle which starts from a year administration, committees and panels and other with a EURO final round and is followed by three institutional aspects. successive years without. The following figures are UEFA’s status as a not-for-profit organisation means therefore based on the current cycle, which started that the balance at the end of a four-year cycle with UEFA EURO 2008. The table shows that over (in this case, the 2010/11 exercise) should be zero. the four-year period, UEFA generated approximately The situation of the current cycle is a surplus of € 5.5 billion in revenue. In order to be transparent, € 56 million. it is necessary to add the reversal of the EURO pool provision, which finances UEFA’s HatTrick programme.

€ m 2007/08 2008/09 2009/10 2010/11 Cumulative in %

UEFA European Football Championship 1 039 0 0 0 1 039 18.8 % UEFA Champions League 822 820 1 099 1 148 3 889 70.4 % UEFA Europa League 53 54 195 210 512 9.3 % Other competitions and income 24 54 33 - 1 110 2.0 % Formation and use of EURO pool provision - 342 117 102 96 - 27 - 0.5 % Source of income 1 596 1 045 1 429 1 453 5 523 100.0 %

Distributions to teams - 822 - 644 - 960 - 1 001 - 3 427 61.9 % Solidarity (including HatTrick) - 221 - 210 - 238 - 238 - 907 16.4 % Organisation : main competitions - 220 - 116 - 162 - 163 - 661 12.0 % Organisation : other competitions - 19 - 21 - 25 - 27 - 92 1.7 % Football development, education and events - 6 - 7 - 8 - 10 - 31 0.6 % ICT and media technologies - 28 - 29 - 46 - 38 - 141 2.6 % Governing expenses - 44 - 46 - 56 - 62 - 208 3.8 % Net financing from UEFA equity - 236 28 66 86 - 56 1.0 % Use of income - 1 596 - 1 045 - 1 429 - 1 453 - 5 523 100.0 %

17 UEFA Champions League

In this second season of the 2009–12 three-year Distribution to clubs contractual cycle, total revenue increased to The lion’s share of income continues to be made € 1.145 billion. Besides the reasons mentioned below, available to the clubs which participate in the currency effects also had a significant impact, given competition, including the 20 involved in the play-off that some of the contracts with UEFA Champions round, ten of which were diverted into the group League partners are designated in British pounds and stage of the UEFA Europa League. The two clubs US dollars. involved in the UEFA Super Cup were also rewarded This 2010/11 season again included 20 play-off financially. The principles governing the distribution matches to finalise the list of 32 group stage of revenue among the participating 32 UEFA participants. These play-offs were included in the Champions League group stage clubs remained UEFA Champions League contracts, bringing the total essentially the same as in the past, with a fixed number of UEFA Champions League matches played amount, a performance bonus and an important to 145. In addition, the UEFA Super Cup match is part of the financial benefits distributed through also part of the UEFA Champions League package. the market pool concept. Market pool shares in The dual UEFA Champions League access – the favour of UEFA Champions League clubs are in champions’ route and the league route – again proportion to the value of the broadcasting revenue enabled clubs from a greater number of national within the territory of their respective national associations to participate in the group stage of the associations. competition. “Organisational changes helped to make the UEFA Champions League even more attractive.”

The injection of two additional matchweeks (four Each of the 20 clubs involved in the UEFA Champions matchdays) into the UEFA Champions League League play-offs received € 2.1 million, while the calendar was also a significant factor. These 32 group stage clubs received a participation bonus organisational changes helped to make the UEFA of € 3.9 million each. Further payments related to Champions League even more attractive to group matches included a match bonus of € 550,000 broadcasters and sponsors, not only in Europe per game played and, in addition, a performance but also, to an even faster growing extent, in bonus of € 800,000 for every win and € 400,000 for other sectors of the global audience. every draw. Additional payments were made to the clubs that progressed further in the competition, with € 3 million the reward for reaching the round of 16, € 3.3 million for reaching the quarter-finals and € 4.2 million for a semi-final place. The winners of the final at Wembley Stadium, FC Barcelona, collected a further € 9 million, with € 5.6 million going to the runners-up, Manchester United FC. As already mentioned, participating clubs were also entitled to a share of the market pool based on the commercial value of their domestic television market, the number of UEFA Champions League matches played during the season in question and their final position in the previous season’s domestic league table. © Sportsfile

18 Financial Report 2010/11

Given that total UEFA Champions League revenue solidarity payments have increased considerably. This was higher than anticipated when the amounts for has been possible thanks to higher overall revenue distribution in 2010/11 were fixed, a surplus of for distribution and to the satisfying fact that the € 32.2 million was available at the end of the clubs (through the European Club Association) 2010/11 season. This surplus was split among the agreed to increase the solidarity share percentage 32 clubs in proportion to the total of the fixed from 5 % to 6.5 % of total revenue. amount and market pool shares already received by Contribution to the development of European each club during this season. These surplus amounts football are included in the market pool column on page 21. € 78.1 million (or 6.8 %) of UEFA Champions League It should also be noted that, with regard to all but total revenue was able to be allocated to European one of the matches played, the home club kept all football as a whole. This is not the net profit, gate receipts – the exception being the final in however, as all the administrative costs related to London, where the two finalists received equal this competition, such as personnel and marketing shares. expenses, are not debited against the project Solidarity payments accounts of this competition. The lion’s share of this contribution is directly re-invested in football, first Ever since its introduction, the UEFA Champions and foremost in non-top competitions, to further League concept has been based on one winner on develop the game at the base of the footballing the pitch and a large number of winners in terms of pyramid and for the benefit of European football solidarity payments derived from UEFA’s flagship club as a whole. competition. During the current 2009–12 cycle, these © 2011 Getty Images

Revenue 1,145.2

Club share 899.0

UEFA share 246.2

UEFA Champions League : project accounts

€ m 2010/11 in % 2009/10 in %

Broadcasting rights 885.1 Commercial rights 259.9 Currency exchange differences 0.2 TOTAL REVENUE 1 145.2 100.0 % 1 108.5 100.0 % Distribution: participation and match bonus - 272.4 Distribution: performance bonus - 182.6 Distribution: market pool - 373.3 Distribution: other - 2.4 Total distribution to clubs - 830.7 Solidarity financed by clubs - 68.3 CLUB SHARE - 899.0 78.5 % - 869.1 78.4 % Event expenses - 92.8 Internal allocation: UEFA.com - 17.3 Internal allocation: UEFA Super Cup - 6.0 Referees and match officers - 10.6 Solidarity financed by UEFA - 14.9 Solidarity to member associations - 26.5 Contribution to European football - 78.1 UEFA SHARE - 246.2 21.5 % - 239.4 21.6 %

20 Financial Report 2010/11

UEFA Champions League : distribution to clubs 2010/11

Group matches Market Knockout matches pool € 000 Participation Match Performance Round Quarter- Semi- Final Total bonus bonus bonus of 16 finals finals Group A Tottenham Hotspur FC 3 900 3 300 3 200 15 762 3 000 3 300 – – 32 462 FC Twente 3 900 3 300 2 000 4 806 – – – – 14 006 FC Internazionale Milano 3 900 3 300 2 800 23 303 3 000 3 300 – – 39 603 SV Werder Bremen 3 990 3 300 1 600 9 401 – – – – 18 201 Group B Hapoel Tel-Aviv FC 3 900 3 300 1 600 1 737 – – – – 10 537 Olympique Lyonnais 3 900 3 300 2 800 10 623 3 000 – – – 23 623 FC Schalke 04 3 900 3 300 3 600 20 147 3 000 3 300 4 200 – 41 447 SL Benfica 3 900 3 300 1 600 3 540 – – – – 12 340 Group C Valencia CF 3 900 3 300 3 200 11 683 3 000 – – – 25 083 Manchester United FC 3 900 3 300 4 000 28 168 3 000 3 300 4 200 5 600 55 468 Rangers FC 3 900 3 300 2 000 10 116 – – – – 19 316 Bursaspor 3 900 3 300 400 13 304 – – – – 20 904 Group D FC Rubin Kazan 3 900 3 300 2 000 5 133 – – – – 14 333 FC Barcelona 3 900 3 300 4 000 22 505 3 000 3 300 4 200 9 000 53 205 Panathinaikos FC 3 900 3 300 800 15 323 – – – – 23 323 FC Kobenhavn 3 900 3 300 2 800 9 155 3 000 – – – 22 155 Group E FC Basel 1893 3 900 3 300 1 600 2 665 – – – – 11 465 FC Bayern München 3 900 3 300 4 000 19 751 3 000 – – – 33 951 AS Roma 3 900 3 300 2 800 18 371 3 000 – – – 31 371 CFR 1907 Cluj 3 900 3 300 1 200 10 798 – – – – 19 198 Group F Chelsea FC 3 900 3 300 4 000 28 922 3 000 3 300 – – 46 422 Olympique de Marseille 3 900 3 300 3 200 12 756 3 000 – – – 26 156 FC Spartak Moskva 3 900 3 300 2 400 4 699 – – – – 14 299 MSK Zilina 3 900 3 300 – 529 – – – – 7 729 Group G AJ Auxerre 3 900 3 300 800 6 306 – – – – 14 306 Real Madrid CF 3 900 3 300 4 400 18 865 3 000 3 300 4 200 – 40 965 AFC Ajax 3 900 3 300 2 000 3 655 – – – – 12 855 AC Milan 3 900 3 300 2 400 14 291 3 000 – – – 26 891 Group H FK Partizan 3 900 3 300 – 1 675 – – – – 8 875 Arsenal FC 3 900 3 300 3 200 17 862 3 000 – – – 31 262 SC Braga 3 900 3 300 2 400 2 749 – – – – 12 349 FC Shakhtar Donetsk 3 900 3 300 4 000 4 700 3 000 3 300 – – 22 200 Total 32 clubs 124 800 105 600 76 800 373 300 48 000 26 400 16 800 14 600 786 300 Contribution in favour of the 20 clubs involved in the UEFA Champions League play-offs (€ 2.1 million per club) 42 000 Allocated to the European Club Association in accordance with the Memorandum of Understanding with UEFA 2 445 TOTAL DISTRIBUTION 830 745

21 UEFA Europa League

The introduction of this competition, which replaced the new competition had found the right profile the UEFA Cup, represented an important change and sporting calibre to further develop alongside which had positive repercussions for European club the UEFA Champions League. football. The 48 teams which qualified for the group Distribution to clubs stage in the second season of the UEFA Europa League were drawn into 12 groups, with the result In the UEFA Europa League, 75 % of the total revenue that every team played a minimum of three home generated was distributed to the participating clubs. matches. The winner and runner-up in each of the The distribution scheme is similar to that of the 12 groups were joined by the 8 teams which had UEFA Champions League, with a mix of fixed and “An important change which had positive repercussions for European club football.” earned the right to continue their European performance-based payments, complemented by campaign by finishing third in their UEFA Champions payments from the market pool, where payments League group. These 32 clubs were the starters in the in favour of the clubs are in direct relation to the first of the four knockout rounds which determined revenue generated in the relevant markets. Ticketing the two teams in the UEFA Europa League final in arrangements are the same as for the UEFA Dublin. In all, 205 UEFA Europa League matches Champions League, with the home club retaining all were staged all over Europe. gate receipts, except for the final, when the two finalists receive equal shares of the ticketing revenue. As opposed to the old UEFA Cup format where the groups comprised five teams, the UEFA Europa Solidarity League format allows opponents to meet on a Until 2008/09, solidarity payments to clubs in all traditional home and away basis, with UEFA selling UEFA competitions were debited in full against the broadcasting and commercial rights on a centralised UEFA Champions League project accounts and were basis. The financial result achieved in this second partly financed by clubs and by European football. season was very encouraging and confirmed that © 2011 Getty Images

22 Financial Report 2010/11

However, since 2009/10, solidarity payments in financed from European football to achieve break- favour of clubs eliminated in the UEFA Europa even. Such a contribution was necessary for the sole League qualifying matches have been debited against reason that the € 21.5 million in solidarity payments the UEFA Europa League project accounts, entirely to the clubs eliminated in the UEFA Europa League taken from the UEFA share. qualifying matches had been debited against the project accounts for this competition. UEFA is Contribution from European football optimistic that the UEFA Europa League will eventually In the second season of the UEFA Europa League, be able to break even without a contribution from a contribution of approximately € 1.6 million was European football.

Revenue 210.1

Club share 157.6

UEFA share 52.5

UEFA Europa League : project accounts

Broadcasting rights 197.1 Commercial rights 13.0 Currency exchange differences 0 TOTAL REVENUE 210.1 100.0 % 196.2 100.0 % Distribution: participation and match bonus - 52.3 Distribution: performance bonus - 42.4 Distribution: market pool - 62.9 Total distribution to clubs - 157.6 Solidarity financed by clubs 0 CLUB SHARE - 157.6 75.0 % - 147.1 75.0 % Event expenses - 21.6 Internal allocation: UEFA.com - 0.9 Referees and match officers - 10.1 Solidarity financed by UEFA - 21.5 Contribution from European football 1.6 UEFA SHARE - 52.5 25.0 % - 49.1 25.0 %

23 UEFA Europa League : distribution to clubs 2010/11

Group matches Market Knockout matches pool € 000 Participation Match Performance Round Round Quarter- Semi- Final Total bonus bonus bonus of 32 of 16 finals finals Group A KKS Lech Poznan 640 360 560 1 326 200 – – – – 3 086 FC Salzburg 640 360 140 144 – – – – – 1 284 Manchester City FC 640 360 560 4 358 200 300 – – – 6 418 Juventus 640 360 420 520 – – – – – 1 940 Group B Rosenborg BK 640 360 140 385 – – – – – 1 525 Aris Thessaloniki FC 640 360 490 1 354 200 – – – – 3 044 Club Atlético de Madrid 640 360 420 1 679 – – – – – 3 099 Bayer 04 Leverkusen 640 360 630 5 638 200 300 – – – 7 768 Group C Sporting Clube de Portugal 640 360 560 492 200 – – – – 2 252 KAA Gent 640 360 350 279 – – – – – 1 629 LOSC Lille Métropole 640 360 420 1 065 200 2 685 PFC Levski Sofia 640 360 350 217 – – – – – 1 567 Group D PAOK FC 640 360 560 1 354 200 – – – – 3 114 NK Dinamo Zagreb 640 360 350 148 – – – – – 1 498 Villarreal FC 640 360 560 6 262 200 300 400 700 – 9 422 Club Brugge KV 640 360 210 204 – – – – – 1 414 Group E FC BATE Borisov 640 360 490 115 200 – – – – 1 805 AZ Alkmaar 640 360 350 375 – – – – – 1 725 FC Sheriff 640 360 280 109 – – – – – 1 389 FC Dynamo Kyiv 640 360 560 404 200 300 400 – – 2 864 Group F PFC CSKA Moskva 640 360 770 1 404 200 300 – – – 3 674 AC Sparta Praha 640 360 490 241 200 – – – – 1 931 US Città di Palermo 640 360 350 520 – – – – – 1 870 FC Lausanne-Sport 640 360 70 137 – – – – – 1 207 Group G HNK Hajduk Split 640 360 140 179 – – – – – 1 319 RSC Anderlecht 640 360 350 268 200 – – – – 1 818 FC Zenit St Petersburg 640 360 840 1 978 200 300 – – – 4 318 AEK Athens FC 640 360 350 1 117 – – – – – 2 467

24 Financial Report 2010/11

Group matches Market Knockout matches pool € 000 Participation Match Performance Round Round Quarter- Semi- Final Total bonus bonus bonus of 32 of 16 finals finals Group H Odense BK 640 360 210 545 – – – – – 1 755 VfB Stuttgart 640 360 700 3 963 200 – – – – 5 863 BSC Young Boys 640 360 420 144 200 – – – – 1 764 Getafe CF 640 360 350 972 – – – – – 2 322 Group I UC Sampdoria 640 360 280 520 – – – – – 1 800 Debreceni VSC 640 360 140 271 – – – – – 1 411 FC Metalist Kharkiv 640 360 560 222 200 – – – – 1 982 PSV Eindhoven 640 360 700 636 200 300 400 – – 3 236 Group J Paris Saint-Germain FC 640 360 630 1 878 200 300 – – – 4 008 FC Karpaty Lviv 640 360 70 198 – – – – – 1 268 Borussia Dortmund 640 360 490 3 238 – – – – – 4 728 Sevilla FC 640 360 490 2 059 200 – – – – 3 749 Group K FC Steaua Bucuresti 640 360 350 2 434 – – – – – 3 784 SSC Napoli 640 360 420 784 200 – – – – 2 404 FC Utrecht 640 360 350 375 – – – – – 1 725 Liverpool FC 640 360 560 4 358 200 300 – – – 6 418 Group L SK Rapid Wien 640 360 140 144 – – – – – 1 284 Besiktas JK 640 360 630 7 044 200 – – – – 8 874 PFC CSKA Sofia 640 360 140 217 – – – – – 1 357 FC Porto 640 360 770 1 628 200 300 400 700 3 000 7 998

Clubs from UEFA Champions League Rangers FC 236 200 300 – – – 736 SL Benfica 344 200 300 400 700 – 1 944 AFC Ajax 94 200 300 – – – 594 SC Braga 973 200 300 400 700 2 000 4 573 FC Basel 1893 7 200 – – – – 207 FC Spartak Moskva 1 300 200 300 400 – – 2 200 FC Rubin Kazan 103 200 – – – – 303 FC Twente 261 200 300 400 – – 1 161 TOTAL DISTRIBUTION 30 720 17 280 20 160 67 220 6 400 4 800 3 200 2 800 5 000 157 580

25 Result by activities

UEFA’s accounting and reporting tools are structured Only transactions related directly and exclusively in such a way that the result can be analysed on to one particular competition or other activity different levels or by dimension. The statutory are included in the figures published in the table accounts, audited by the external auditors, are on the facing page. This means that no UEFA set up by nature and form the consolidated income administration expenses (such as personnel and statement, as published on pages 4 and 5. general administrative costs) are allocated to these results by competition or other activity. As a result, In parallel and in addition, UEFA also breaks down the total of these non-allocated items appears on a results by competition and other activities (cost separate line, under the title UEFA administration drivers), as illustrated in the chart on the facing page, expenses. where UEFA’s 2010/11 net result can be broken down into subtotals. For the purpose of comparison With the introduction of an integrated finance and with the previous financial year, the 2009/10 net administration IT application and a new chart of result is published alongside. accounts that moves a step closer to international standards, the allocation of costs to the relevant cost By including, on the left of the chart, the 2010/11 drivers will be further reviewed and improved. revenue and expenditure totals for each competition and activity, UEFA is also able to disclose the extent to which the main sources of income contribute to UEFA’s ongoing financial strength. © Sportsfile

26 Financial Report 2010/11

Net result by activities

2010/11 2010/11 € m 2010/11 2009/10 Revenue Expenses Net result Net result

0 - 3.0 UEFA EURO and European Championship qualifiers - 3.0 0 1 153.1 - 1 075.0 UEFA Champions League 78.1 67.9 210.5 - 212.1 UEFA Europa League - 1.6 - 8.3 0 0.7 UEFA Super Cup 0.7 0.7 Total main competitions 74.2 60.3 22.4 - 50.0 Asset management - 27.6 7.3 105.8 0 Provisions 105.8 103.7 TOTAL SOURCE OF NET INCOME 152.4 171.3 0.1 - 8.8 Women's competitions - 8.7 - 13.5 5.4 - 13.7 Under-21 competitions - 8.3 - 5.9 0.1 - 6.6 Youth competitions - 6.5 - 4.8 0 - 1.2 Futsal competitions - 1.2 - 1.6 0.5 - 2.4 Various other competitions - 1.9 0.6 Total other competitions - 26.6 - 25.2 0 - 100.8 HatTrick programme and Study Group Scheme - 100.8 - 102.6 2.0 - 9.8 Football development and education - 7.8 - 5.1 0 - 2.5 Events - 2.5 - 2.8 1.4 - 39.7 ICT and media technologies - 38.3 - 45.9 Total other activities - 149.4 - 156.4 1.6 - 50.3 UEFA administration expenses - 48.7 - 36.8 6.8 - 18.6 Institutional and disciplinary proceedings - 11.8 - 16.9 0 - 1.7 Committees and panels - 1.8 - 2.4 Total governing expenses - 62.3 - 56.1 TOTAL USE OF NET INCOME - 238.3 - 237.7 NET RESULT - 85.9 - 66.4 © 2011 Getty Images

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