Wealthiest clubs also perform best. - According to the UEFA's “football panorama of European clubs”, which has just been published by the organisation, the bank accounts of 732 first division clubs in 53 affiliated federations (in 2008) showed that the richest clubs were also those that won the most matches. In 2008, in 66% of case studies, the wealthiest national club finished first or second place in the championship league, which subsequently attests to the growth in the “football business”. In 2008, the European elite of football clubs generated €11.5 billion in income, a 4.8% increase on takings for 2007. Unsurprisingly, the five major leagues in the English, Spanish, Italian, German and French championships largely dominate football and account for 66% of all business in the football sector. The main sources of revenue include TV rights at 36%, ahead of advertising and sponsorship (25%), tickets (22%) and other income (17%). UEFA also observed significant disparities between rich and poor clubs, which existed either between the countries or the teams themselves. On average, in each league, the four most successful teams had incomes that were 3.9 times greater than those of other clubs. This observation confirms the model of the “big four”, a system in which four clubs dominate both the sporting field and economically, which is the case propounded in the United Kingdom. It also transpires that the clubs examined generated €578 million in accumulated losses, as opposed to €515 million in 2007. In total, 47% of clubs were in the red and 22% had deficits that were above 20% of their turnover. The survey also shows that in 2008-2009, 58% of clubs saw reduced numbers going to see the games in their stadiums, symptomatic of the financial crisis. Even more worrying is that the costs are out of control. Between 2007 and 2008, these costs rose more quickly than revenue, due to annual inflation of 18% in salaries, which rose to a figure of €7.1 billion. Overall, clubs' spending stood at €12.1 billion, 105% of turnover, to which debt must also be added. The overall debt of the big clubs stands at €18.2 billion, €6.3 billion of which is net debt. The English clubs are those most affected by this phenomenon. With debt of €3.8 billion, these clubs, together with their stadiums, have the greatest assets base. It is in this context, that UEFA is seeking to encourage a “fair-play financial system”. (I.L./transl.fl)