Bundesliga CEO Seifert sees little serious business in Spain
The head of the German Bundesliga has unflattering words for the Spanish competition. “The brutal truth is that some of these so-called super clubs are actually poorly managed money-burning machines that have not been able to come close to a nearly sustainable business model in a decade of unbelievable growth,” said Christian Seifert, referring to the super league -Pacemaker from Southern Europe.
Seifert did not name any club, but said that the biggest drivers for an elite super league came from Spain, among others. According to media reports, Real Madrid and FC Barcelona in particular, but also the Italian champions Juventus Turin, are interested in founding such a league.
The elite league would not solve the financial problems of some, said Seifert. “If I were an investor, I would ask myself whether they are the right partners,” said the 51-year-old top manager. “In the end they will burn this money as they have burned it in recent years,” added Seifert at a football industry summit hosted by the Financial Times. Seifert advised that European football should examine the feasibility of introducing salary caps with UEFA, in order to keep costs in check.
Only a few weeks ago reports were published that the total debts of FC Barcelona had accumulated to the staggering amount of 1.2 billion euros (gross) due to the corona crisis. The mountain of debt has also grown at Real Madrid. According to media reports, the debt of the Spanish record champions is around 900 million euros.
