5 hours agoRenowned European club in difficult economic situation, with 250m euros in debt, risks surrender
Periskopi(6 years ago)
(6 years ago)Football suspension due to the outbreak of Coronavirus' pandemic is fatally hitting all clubs. The most famous Portuguese club, Porto, is in a difficult economic situation, and all this cause of mismanagement in the past decade. Even before the financial crisis in 2008, Porto was the most vulnerable club in Europe. [...]
Football suspension due to the outbreak of Coronavirus' pandemic is fatally hitting all clubs.
The most famous Portuguese club, Porto, is in a difficult economic situation, and all this cause of mismanagement in the past decade.
Even before the financial crisis in 2008, Porto was the most vulnerable club in Europe. Before the pandemic and the suspension of championships across Europe, Porto debt reached 250m euros”, writes Portuguese Records.
As it says, the reason for so much debt is that “Dragons” survives thanks to large bank loans and other incomes on which there is no control, such as television rights.
A severe blow to the club's financial stability is the loss of dominance at the domestic championship. Porto lost considerable income in the fact that they failed to qualify in the phase of Group Champions League. Saving the club, perhaps the only one, is selling talented young football players.
