Covid-19 forces UEFA prize money cuts

The 2020/21 UEFA Champions League and UEFA Europa League prize monies for the next five seasons. According to a report by The Times, as reported by SuperSport, the worldwide Covid-19 pandemic has forced the UEFA governing body to pay close attention to the financial books. UEFA confirmed to various member associations that a total of 514 million pounds ($666.40 million) was lost, thanks to the delay in last season’s knockout games for television and sponsorship income. SuperSport confirmed the exact setbacks causes and financial forecasts: “The two competitions were suspended in March when the pandemic wreaked havoc on the global sporting calendar and only resumed in August after the top leagues in Europe wrapped up their respective seasons. “The knockout stages were staged behind closed doors at neutral locations and each round's tie was also reduced to a single fixture instead of the usual home-away format. “Last season's forecast had 1.95 billion euros ($2.30 billion) set aside for the 32 teams in the Champions League group stage. “The report added that English clubs can expect to see TV and prize money drop by about 4%,” concluded the report.