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Serie A clubs racked up staggering debt of £2.3BN… leaving many sides in a ‘critical situation’

The financial statements for the 2018-19 Serie A season have been released and they make worrying reading for all 20 clubs, especially with the coronavirus outbreak looming over them.

According to Italian publication La Gazzetta dello Sport, a mammoth debt of £2.3billion (€2.5bn) was racked up overall by all 20 Serie A sides last campaign.

The Italian paper ran with the headline: ‘How can an indebted Serie A defend itself from the coronavirus emergency?’ 

The Serie A season has been suspended and there are fears the rest of the campaign may not be able to be played out as the Italian government desperately look to battle against the Covid-19.

The potential cancellation of the domestic season would lead to ‘dire scenarios’ for all Italian top-flight clubs, according to La Gazzetta dello Sport.

Furthermore, the average annual increase in cost from the year previous is an eye-watering £267million (€292m).

The report adds that Italian giants Juventus amassed the best revenue figures but at the same time recorded massive expenses.

Atalanta, meanwhile, made a big profit due to player sales but the possible cancellation of the season could spell many other economic problems for the Champions League quarter-finalists.

Only Napoli, Torino and Cagliari have not racked up debts but their finances would take a huge dive under any early finish to the current season. 

The whole of Serie A is desperate for the season to restart and then finish by June 30 and they view it as unimaginable for the campaign to go on any further than that date for a number of reasons, including finances and a worrying lack of preparation for the players.

The coronavirus pandemic could lead to a reduction in players’ wages in Italy if the football calendar issue blows into a full crisis.  

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