Many football clubs have been hit hard by the Covid-19 pandemic making them to count on losses for more than a year. Apart from the pandemic, there are some clubs that are on the verge of collapsing, I mean they could be declared bankrupt and closed due to shortage of funds.
Today, we will look at five football clubs that are about to go down financially:
5. Schalke 04
The German team was officially relegated last season after series of defeats and failing to balance the book. Schalke was among German top teams in 2010s playing the Champions League. Schalke had 31 defeats and had a record of winning only 3 games in one and a half years.
Where did the club started to fail? Schalke signed many players in 2019 thus causing to rise of the wage bills. Players like Bentalib, Embolo, Choupo Moting were signed and eventually, left to depart for free making more losses. The club was relegated and currently, is playing the German Bundesliga 2.
Many people are wondering how comes the defending Ligue 1 champion is about to go down financially. Well, Lille lifted the Ligue 1 trophy but they squandered the money. In 2019, Lille had a debt of £200 million.
Lille borrowed loans to fund players wage bills. The club has spent more than £126 that saw them leveling FC Barcelona's situation.
By 2020, only half of the debts were paid through the sales of Victor Osimhen and Pepe.
3. Inter Milan
The Italian defending champions are badly broke as they tasted glory once in 11 years. Inter Milan was one of the best clubs in the world during the 2000's when Italian clubs were dominating the European football. The Chinese owners of the club pumped more than €200 in 2016 but Inter failed to utilize the amount correctly. Jiangsu FC, a sister club to Inter Milan, won the Chinese Super League.
After winning the Scuidetto last season, Inter became badly broke and chose to cut their player wages and even their manager, Antonio Conte, chose to leave the club to minimize wages.
Derby County made it to the 2019 Premier League play offs and it was among the most promising clubs in England. After failing to get Premier League promotion, the club became broke after poor management of funds. The club renovated it's stadium, Pride Park stadium. Also, Derby faced tax and other debts from different companies. The club also rejected buy offer from Sheikh Mansour cousin.
I know you won't believe this. Barcelona was highly affected by huge wage bills forcing each player to take a pay cut. The Blaugurana club is struggling to reduce the wage bill from players to the technical staffs. The club failed to negotiate a deal with their club legend, Lionel Messi even after the Argentine agreed to take a 50 per cent pay cut. Currently Barca are really struggling.
Barcelona is one of the best clubs in the world but it is at risk of losing it's identity. Joan Laporta is just struggling to balance the books and preventing being declared bankrupt.
Content created and supplied by: SoccerAnalyst (via Opera News )