Cyprus football clubs suffered €23 mln losses

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Cyprus football clubs suffered €23 mln losses
 © FinancialMirror 2020

Cyprus football clubs lost a combined €23 mln in 2019 as big spenders failed to yield profits as 13 out of the 14 teams playing in next season’s First Division closed their books in the red.

Only Nea Salamina was able to record a profit of €358,000 on a club budget of around €800,000.

Cypriot teams strive to acquire one of four tickets to a major European tournament, namely the UEFA Champions League and the Europa League which can generate income of up to €20 mln.

However, the Cyprus...

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This article was automatically added to our system 25-6-2020

Cyprus football clubs suffered €23 mln losses

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