2015/16 UEFA Financial Report
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UEFA ROUTE DE GENÈVE 46 Financial Report CH-1260 NYON 2 2015/16 SWITZERLAND TELEPHONE: +41 848 00 27 27 TELEFAX: +41 848 01 27 27 41st Ordinary UEFA Congress Helsinki, 5 April 2017 Setting: LargeNetwork, Geneva. Printing: Artgraphic Cavin, Grandson, Switzerland Grandson, Cavin, Artgraphic Printing: Geneva. LargeNetwork, Setting: TABLE OF CONTENTS I. Facts and figures 1 Introduction 4 Financial strategy 6 Income statement 8 Distribution 9 Solidarity 10 The flow of UEFA solidarity payments 12 Balance sheet 14 Own resources 16 Result by competition and activity 17 Source of income 18 Use of income 20 Governing expenses 22 The four-year cycle 23 EURO 2016 30 HatTrick 32 European Qualifiers 34 Club competitions 38 UEFA Champions League 42 UEFA Europa League II. Annex Financial statements as at 30 June 2016 Reports of the statutory auditors : Getty Images Cover INTRODUCTION t is with great satisfaction that UEFA Leading up to the final tournament, higher broadcasting revenue and a Ipresents its Financial Report for the European Qualifiers also proved to lower competition deficit. 2015/16 – a financial year marked by a be a resounding success, in particular number of highlights and major the new Week of Football concept. Despite being much occupied in events, notably EURO 2016. This year’s More fans than ever watched a organising its flagship events, UEFA report includes some changes, such as competition where unfancied teams delivered various other events and in the way the club competition produced some remarkable results programmes, investing €33.4 million in figures are presented, as well as more against supposedly stronger football projects such as development information on the use of income and opposition. The spreading of matches tournaments and education. The a breakdown of UEFA’s institutional over six days heralded an invigorating solidarity and development costs. In addition, changes to the Swiss new approach and underlined UEFA’s programmes provide constant Code of Obligations required some determination to enhance the appeal reminders that UEFA’s prime mission is small adjustments in the statutory of the European national-team game. to put football first and to defend and accounts. The structure of the report promote the game with a view to has not, however, changed. It is The sales process for the 2015–18 club achieving the best possible marriage divided into a straight forward competition cycle also ended more with business practices. descriptive part and an annex than satisfactorily, with revenue providing detailed financial statements increasing by 38% compared with the Operating expenses remained at and the auditor’s reports. previous cycle. As a result, the amounts budget level or, in certain areas, lower available to participating clubs and for than initially planned. However, Every 12 years, the start of a new club solidarity payments are considerably financial items such as interests and competition cycle coincides with a year higher than for the 2012–15 cycle, foreign exchange stayed very much with a European Football with all revenues from the UEFA behind budget despite higher financial Championship final tournament, as Champions League and UEFA Europa assets being available. was the case in 2015/16. Having our League now centralised into one single biggest tournament and the start of a pot for the purposes of a new, Even so, the overall result of the new club competition cycle in the same simplified distribution system. For 2015/16 financial year is satisfactory, financial year has a major impact on 2015/16, an amount of €1.36 billion and the net result of €102.1 million will UEFA’s annual accounts, as reflected (+31%) was available for UEFA be used to part-finance the three first and foremost in the total revenue Champions League clubs, while the coming years until the next EURO. As a of €4.58 billion, double that of the amount available for clubs taking part not-for-profit organisation, UEFA’s season before. in the UEFA Europa League came to duty is to redistribute income in a way €411.2 million – a substantial increase that allows and encourages its 55 The increase from 16 to 24 of 72%. member associations to take care of participating teams for EURO 2016 the players, coaches, match officials meant more matches and more Futsal’s flourishing popularity was and supporters who bring the game to excitement for more fans and, at the highlighted by an outstanding UEFA life and promote the important social same time, it had a positive impact on Futsal EURO 2016 in Belgrade in values showcased by the world’s most revenue, which, compared with EURO February 2016. And the UEFA Youth popular team sport. UEFA’s financial 2012, increased by over €500 million to League became a permanent UEFA performance is, in consequence, a €1.92 billion. Apart from being a great competition following a two-year pilot hinge that opens the door to success in terms of sporting balance, phase. The expanded competition important benefits right across the giving new countries and their comprised 64 teams, with 32 domestic continent. supporters the chance to participate in champion clubs lining up alongside the a final round, EURO 2016 was also a youth teams of the clubs taking part in financial success, producing a net the UEFA Champions League group result of €847.3 million, a positive stage. This expansion increased the outcome which secures the financing competition’s quality, with a wider for the fourth HatTrick cycle. country representation resulting in FINANCIAL REPORT 2015/16 1 Revenue €m 2015/16 4 579.8 2014/15 2 099.4 2013/14 1 730.4 2012/13 1 698.9 2011/12 2 795.7 in 2015/16 Money distributed €m in 2014/15 solidarity participating UCL UEL European payments teams winners winners Champions 1 163.7 2 269.8 80.1 13.8 25.5 171.4 1 570.2 61.0 19.1 23.0 Real Madrid CF (15/16) Sevilla FC (15/16) Portugal (2016) FC Barcelona (14/15) Sevilla FC (14/15) Spain (2012) Key figures in 2015/16 in 2014/15 Number of Number of matches played employees 2 089 946 1 992 618 (as at 30 June and incl. EURO 2016 SAS) 2 Revenue by nature and competition €m Broadcasting rights Commercial rights Tickets and Other revenue and hospitality asset management 3 185.2 928.3 429.0 34.5 70% 20% 9% 1% Revenue and income by nature National-team competitions Revenue by competition • and other income 2 123.8 46 % • Club competitions 2 416.8 53 % • Other competitions, revenue and asset management 36.4 1% FINANCIAL REPORT 2015/16 3 FINANCIAL STRATEGY very business has at its heart development levels of the men’s and financial results offer an indication as “Ethe delivery of a product to the women’s games. Year after year, our to whether sporting and business customer. In football, that product is Financial Report reiterates UEFA’s core criteria have been successfully married on the pitch. What happens there principles – and the repetition is not and whether these objectives have drives the three basic revenue streams accidental. To omit them would be to been achieved. of the business: matchday ticket sales, hint that they have been forgotten. To commercial sales and sponsorship, and repeat them is an invitation to reflect UEFA is committed to promoting fair broadcasting, which dominates the on whether these principles have, once play on and off the pitch. Financial fair turnover of most of the elite European again, been respected and whether, as play is high on the agenda and, if football leagues. So, ultimately, Carlo Ancelotti says, we have UEFA is to lead European football in despite the importance of everything ‘delivered success’. the right direction and provide top- else to the business, I will be judged on class administrative support, UEFA’s the game and delivering success.” UEFA is committed to encouraging its economic status must be an illustration member associations to work together of financial fair play in terms of The words are borrowed from a book in putting football first and to responsibility, fairness and by Carlo Ancelotti, five-time winner of constantly pursue the betterment of transparency. These principles need to the UEFA Champions League (twice as football, right from the grassroots be attached to all existing and future player, thrice as coach) during a levels to the role-model pinnacles of projects. success-filled career. We trust that the professional game. UEFA is Carlo, a regular participant at our committed to strengthening solidarity, The last word could be offered to annual Elite Club Coaches Forum, will to protecting the future of the game another ex-player who thinks deeply not mind being quoted. As it happens, and to maximising UEFA’s finances in a about the game, Jorge Valdano: “It’s the title of his book, Quiet Leadership: way that reflects and highlights the about the search for perfection. We Winning Hearts, Minds and Matches is concept of solidarity. know it doesn’t exist but it’s our also a concept that UEFA, as an obligation to football and, maybe, organisation, can readily take on UEFA is committed to good humanity to strive towards it.” board when reflecting on its role in governance and to the promotion of the European game. good governance throughout its member associations. Leadership in Carlo’s comments are easy to translate this sphere implies responsibilities and into a mission statement. UEFA does duties. UEFA’s finances must therefore not – and must not – ever lose sight of aim to demonstrate that good the fact that the core of its business is governance begins at home.