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Bulgaria's A League Reports Cumulative Loss Of $34.5M Over Last Two Seasons

Clubs from Bulgaria's elite A group recorded cumulative financial losses amounting to BGN 60M ($34.5M) over the past two seasons, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The figures "were calculated from documents provided by the clubs to the Bulgarian Football Union's club licensing committee." The numbers are "not surprising given the plight of the clubs that have failed to meet payments to creditors, players and officials." The situation is "not exceptional for leagues that don't have fat TV contracts or substantial revenue from sponsors." The 10 clubs that "form the backbone" of group A in these two campaigns that have not been relegated from the top league have generated a total revenue of BGN 128M ($73.6M). But their costs over this period amounted to BGN 188M ($108M), resulting in a loss of BGN 60M. The "main income for clubs comes from their participation in the European club tournaments" (INSIDE WORLD FOOTBALL, 6/16).

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