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Financial Report 2021/22 and Budget 2022/23
Annual Report 2021/22
Including Financial Report 2021/22
& Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Contents
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Introduction from the Chairman
Report from ECA CEO
A message from the UEFA President
UEFA club competitions landscape post-2024
Finances: the road to sustainability
• Income Statement 2021/22
• Funding
• Expenses
• Balance Sheet 2021/22
• Budget 2022/23: General Remarks
Women’s football continues to develop
Bringing our services to the next level
Membership clubs
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Annual Report & Financial Report 2021/22 and Budget 2022/23
A message from
the Chairman
Nasser Al-Khelaï
If 2021 was a year of conciliation and consolidation
for ECA, then 2022 was the year of collaboration
and great progress.
Our progress has been guided by the ve strategic
priorities we set ourselves last year, and we have
continued to deliver on our commitments and promises
this year.
Our rst priority is ensuring nancial stability within
European football.
The new nancial sustainability regulations are a positive
development. The rules control costs. They encourage
investment and new investors. They will help secure
football’s sustainability. But we need to be careful,
dangerous levels of debt and magical equity deals are
not a sustainable path. We need to think long term, not
short term.
ECA will continue to make nancial stability a key priority.
The fact that ECA held its rst-ever Club Financial
Workshop in Geneva recently - with a turnout second
only to that of a full General Assembly - is proof of how
seriously we take this at club level.
Our second priority is to build stronger ECA
relationships.
We have been very active in building our relationships
in 2022. The recent example of our Executive Board
meeting in Qatar - where Presidents from all the
continental Confederations, plus representatives from
UEFA and FIFA joined our meeting - is further testimony
to the spirit of partnership and global importance of ECA
as an organisation.
Our strong relationship with our most important
stakeholder, UEFA, saw continued great progress with our
Joint Venture. This is founded on a trusted relationship
and is a great example of progressive reform. As you
know, UEFA and ECA have now signed a Letter of Intent
to enter into a new Memorandum of Understanding
(MOU) through to 2030. This will make our partnership
even stronger.
This year, we have also worked closely with UEFA on the
new post-2024 men’s competition format and access.
There will be more exciting games. The competitions
will be more inclusive, and our revenues will grow. We
have already seen this in France, the UK, the Netherlands
and other markets; and in the US our growth is over
150%, with the Spanish language rights still to be sold.
We plan to work with Paramount+ and all our other
media partners and rights-holders on how to reach new
audiences, be innovative and stay relevant.
It is also fantastic that more clubs will experience the
magic of European competition. We saw the passion
of the Frankfurt and the Roma fans when they won the
UEFA Europa League and UEFA Europa Conference
League respectively in May.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Revenue distribution is the next important topic for
European football and we began looking at this in 2022.
ECA has always promised to put collective interests
above those of the individual, and to protect all our clubs.
We want the increased revenues, in both men’s and
women’s club competitions, to go towards benetting
the whole game.
At a global level, we continue to engage in dialogue with
FIFA concerning the need to re-sign our MOU as soon as
possible. Meanwhile we need to engage in discussions
on the International Match Calendar (IMC) and other
areas of the IMC; for example the proposed FIFA Club
World Cup with 32 clubs that form an integral part of the
IMC. The recent announcement of the new FIFA Football
Agent Regulations is a good example of what can be
achieved when all stakeholders work together in a true
spirit of collaboration.
Our third priority is creating better ECA member
benets.
ECA continues to expand our legal, nancial and
commercial services while oering numerous education
and knowledge programmes, as well as providing club-
relevant research and insight studies.
And importantly, in 2022 we launched the ECA Network
giving access to our services and products to a whole
new group of up to 160 aspiring clubs of Europe. As a
result, we are more inclusive; and we show that ECA
cares for clubs of all shapes and sizes.
Our fourth priority is Diversity & Inclusion.
We continue to develop and support the women’s game
at ECA. As we promised, the new ECA membership for
women’s clubs will begin next year – this is so important.
We will continue to strongly support women’s football,
and we must ensure that the opportunity to grow
following the highly successful UEFA Women’s EURO
2022 is given the right level of investment and support
at the club level.
More generally, we also need diverse thinking in
everything we do, which our various task forces and
committees promote in their work every day.
Our fth and nal priority is to renew the ECA
spirit & values.
Over the past twelve months we have shown the power
of ECA when we all work together for the collective good
of European clubs.
Throughout 2022, ECA Member Clubs, and those clubs
that have become part of the ECA Network, have worked
together in a true spirit of cooperation and collaboration
to drive the organisation forward.
There is still much to do, but as we close the year, we can
be proud how we have achieved many of the objectives
we set out together in a true spirit of partnership in
the interests of all. Under the new ECA, we are more
creative, more collective, more connected. We are talking
together. We are sharing ideas. We are listening. We are
doing and delivering more and ECA is stronger than ever.
This is the spirit that will shape the future of European
club football.
Finally, as we approach the new year with its new
challenges and opportunities, on behalf of ECA we extend
to all those involved in the global game - to FIFA, UEFA,
the continental Confederations, national associations,
leagues, ocials, clubs, players, coaches, sta and fans
– our very best wishes for 2023.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
ECA CEO report
Charlie Marshall
2022, in comparison to 2021, was a year of relative
calm and action – getting on with doing the work
that we are mandated to do.
Guided by the ve strategic priorities set out by the ECA
Chairman and Executive Board back in autumn 2021,
2022 was a year in which ECA delivered on many of our
objectives and launched many new programmes as a
part of a renewed focus on the services portfolio.
It was also a year in which the ECA Administration
continued to grow in both size and experience, driven
in part by the need to deliver on a more ambitious
mandate assigned to it by the Executive Board, but also
by the growing condence of the organisation’s clarity
of purpose shown by the leadership in the wake of the
events of 2021.
I hasten to add that while our small but hard-working
team at ECA has grown this year, it remains of utmost
importance that we do not lose the human touch and
interactivity with our most important stakeholders, our
ECA Member Clubs. The end of lockdown days and
the opening of in-person meetings has been warmly
welcomed by all in 2022!
Allow me now to run through some of the most important
moments, events, and achievements in 2022 framed by
our ve strategic priorities.
Financial Stability and Sustainability
This pillar remains the core of ECA’s business if we are
to ensure that European club football remains at the
pinnacle of sport & entertainment worldwide while also
ensuring a stable, sustainable, inclusive and competitive
football pyramid.
The lifting of restrictions on sports events returning to
full capacity in time for the start of the 2021/22 football
season was welcomed by all stakeholders but especially
the clubs, whose revenues were hit hard by this restriction
in 2020/21. Add to this the launch in the spring of 2022 of
the new UEFA Club Licensing and Financial Sustainability
Regulations, aimed at controlling player costs while
allowing for responsible outside investment and owner
interventions, and the picture looks a lot healthier for the
industry than in the previous season.
There can be no greater endorsement of how seriously
the clubs take their responsibility in this area than the fact
that the rst-ever ECA Financial Sustainability Workshop
in mid-November drew the biggest single attendance of
ECA Members for any event outside a General Assembly.
Closer and Stronger Stakeholder Relationships
2022 was also a year in which signicant headway was
made in working together with our key stakeholders in
European football.
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Our work with UEFA continues to be of paramount
importance covering the commercial, sporting and
regulatory aspects of UEFA Club Competitions (UCCs),
and the delicate balance between club and national
team football.
In 2022 our work together included the signing of a
Letter of Intent, a key steppingstone on the pathway to
renewing our Memorandum of Understanding (MoU)
with UEFA during 2023 and perhaps most notably, the
launch of the new format of the men’s UCCs from 2024
onwards.
Much work was also completed within the Joint Venture
between UEFA and ECA as the sales process began in
earnest for the media rights for the UCCs post-2024. Our
JV is perhaps the best example of the equal partnership
approach between ECA and UEFA. Work also began on
the topic of post-2024 revenue distribution, and this will
be a major project for the rst part of 2023.
FIFA, our other key governing body stakeholder, also
kept us busy in 2022. We welcomed the recent approval
by the FIFA Council of the new FIFA Football Agent
Regulations, upon which much joint work took place –
alongside other stakeholders – during the season. The
establishment of a clear set of rights and obligations
for all parties and the introduction of service standards
and a mandatory licensing system, should all contribute
to promote fundamental objectives, in particular the
integrity of the transfer system and the protection of
contractual stability
ECA was also heavily involved in the Club Benets
Programme for the World Cup Qatar 2022 supporting
clubs releasing players to the tune of $209 million.
Discussions with FIFA on the International Match
Calendar and managing the release of players to national
team football, critical issues for all European clubs,
continue to remain top of the agenda and are linked
to the discussions around a new MOU with FIFA which
looks out towards the remainder of the decade.
Enhancing Value and Services to our Members
Another key moment for ECA in 2022 was the launch of
the new ECA Network giving the opportunity for up to
160 aspiring clubs of Europe to access ECA services. This
is a network that will now continue to develop in line with
the growth of ECA’s services portfolio.
Platform for Executive Consultation (PEC) meetings took
place right across Europe in Romania, Estonia, Italy and
Ireland, and provided quality touchpoints for feedback
and input from members into key priority areas for ECA
support. Such in-person meetings allow for quality time
between members and will remain a cornerstone of the
ECA way of conducting business.
The 4
th
edition of the Club Management Programme got
under way this year with senior club executives completing
modules in Paris, France and California, USA. This latest
cohort will graduate in the summer of next year.
A brand-new Club Talent and Mentoring Programme
was launched this year and the rst batch of young club
executives has already graduated. Enlarging the scope
of our services oer to members will continue to be a
priority as we grow the organisation.
The highly successful and engaging Youth Knowledge
Exchange Programme continued in 2022 with visits to
Bilbao, Spain, Leipzig, Germany, and Rome, Italy.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Women’s football remains a priority for ECA and further
excellent work on delivering the “Be a Changemaker”
women’s football strategy continued in 2022, including
holding two Women’s Football High Performance Advisory
meetings in Glasgow, Scotland and Munich, Germany.
These are just some of the highlights in the services area
that took place in 2022 but we must not rest on our laurels.
Changes in technology are opening new channels and
platforms for communication and for doing club business.
In addition to kicking o a review of ECA’s product brand
architecture, and a major ECA brand and positioning
refresh, a project on improving the use of ECA’s digital
platforms is also underway.
Diversity and Inclusion
Focus on diversity and inclusion continues to be a
priority for ECA. As part of the review of the overall
governance structures between European football’s main
stakeholders, ECA also undertook work in 2022 on the
ECA’s governance model. Discussions are still ongoing
but the inclusion of women’s clubs as full members as
well as the injection of more ED&I (equity, diversity and
inclusion) into ECA’s governance structure are slated for
implementation at the ECA General Assembly in March
2023.
During the season, ECA’s Administration also completed
a training and education course with the Institute for
Sport and Social Justice where over a period of 6 months
all sta learned about topics such as intersectionality,
unconscious bias, and leading in the workplace with
diversity and equity as key values. This provided the sta
with the key tools and practical guidance to ensure that we
always prioritise ethics, empathy and sensitivity during our
engagement with all of our members and stakeholders.
ECA Spirit and Values
Spirit and Values is the fth but perhaps the most
important of the ve pillars. As we look towards the new
ECA cycle 2023-27 the basic framework for the next decade
of European football will need to continue to evolve and
reform, encompassing the calendar, the competitions,
nancial sustainability, distribution and investment across
the pyramid, commercialisation and social impact and
responsibility. These are areas where clubs working at
the heart of European football are the best placed actors
to aect change. But we will only succeed if we continue
to work together. One great example of this in 2022 was
the support and solidarity extended by members to the
refugees from the ongoing crisis in Ukraine via the €1m
ECA Ukraine Relief Fund.
As a members’ association, ECA performs best when
it is working together, united with a single voice for the
collective good of all.
The coming year will be another challenging one for
European football, both as a whole and for the clubs, but I
and the team look forward to working together with all of
you, our Chairman and our Board, to continue to deliver
on our mandate to place clubs at the Heart of Football.
ECA CEO report
Continued
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Annual Report & Financial Report 2021/22 and Budget 2022/23
A message from
the UEFA President
Aleksander Čeferin
As usual, it is a big pleasure to deliver a few words
to you on the occasion of the ECA Annual Report.
European football has successfully completed
another year of exciting competitions on the eld and
outstanding togetherness o the eld. It was not without
its challenges, but we have again demonstrated our
resilience and commitment to the values and principles
we hold dear within European football.
Our club competitions were some of the most thrilling in
recent memory and we have maintained our traditions
and representativeness across all three tournaments.
My sincere congratulations go to all participating teams,
but especially those clubs who are new to the European
stage.
The collaboration with the ECA has never been
stronger. It is more critical than ever that we remain
steadfast in our responsibility to uphold the European
football pyramid and I would like to personally thank
the ECA Chairman, Nasser Al-Khelaï, for his leadership
and vision during these challenging times. Our joint
work and commitment have marked a clear footprint
visible to all. They are sending out strong messages that
football in Europe wants to stay united and inspired by
solidarity principles as this is the way to accomplish its
fundamental social mission.
The UEFA Convention on the Future of European
Football was a testimony to the unity of the football
family and the mutual respect we share with one
another. I am certain that together we will uphold the
history, traditions, and legacies of not only UEFA but
of clubs all across Europe. I personally enjoy working
with the ECA and look forward to the new steps of this
fruitful cooperation, including in future editions of the
UEFA Convention and within our new joint-venture to
ensure European football continues to prosper and
grow for the benet of all.
As we move into 2023, the UEFA Champions League
will move closer towards completing a phenomenal
era under its current format. There is much to be
enthusiastic about as we progress towards its new
format beginning in 2024. Change happened already
for the UEFA Women’s Champions League, which will
continue to build on the success and ensure further
progress for women’s football. These are exciting times
and we have set high standards for ourselves. I am
certain we will not only reach our current goals but
together with you the clubs, we will move above and
beyond.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Planning the competitions
landscape post-2024 and good start
for UEFA Europa Conference League
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Annual Report & Financial Report 2021/22 and Budget 2022/23
From a UEFA Club Competitions’ perspective, the
2021/22 season was a special one for dierent reasons.
After three years of analysis and discussions between all
the relevant stakeholders, an agreement was found on
the format and access list of the UEFA Club Competitions
landscape post-2024. At the same time we saw successful
kick-os to the UEFA Europa Conference League as well
as the revamped UEFA Europa League and Women’s
Champions League. Work is ongoing to agree the men’s
and women’s International Match Calendars post-2024
and post-2023 respectively.
Important changes to the UEFA men’s Club
Competitions Landscape post-2024
After various extensive consultations on post-2024 UEFA
Club Competitions Landscape starting back in 2019, an
agreement on a new format and enhanced access list
was found in May 2022.
Some exciting and innovative changes have been agreed,
in particular the increase of the number of clubs in each
of the three men’s competitions to 36 and the creation of
the new league phase with a single league table deciding
qualication to the knock-out phase.
At the same time, some other key features of the
competitions were slightly revised, including the number
of match dates in the UEFA Champions League (UCL)
and the allocation of two new “association slots” which
now grant direct access to the UCL group stage for two
additional teams from the countries with the previous
season’s best performing teams, together with the
third team from association N°5 and an extra domestic
champion from the qualication phase.
The eventual agreement on the format and access
list was widely perceived as balanced and a good
compromise between modernising and growing the
European competitions – of such vital importance for
leading clubs across all countries of Europa – without
putting too much pressure on the calendar.
A successful start of the UEFA Europa Conference
League (UECL)
The UECL has rapidly developed as a competition with
its own identity, oering a European stage to many new
clubs. Already in the qualication phase, the perception
amongst clubs from smaller associations of having a more
realistic pathway into a European group stage created
excitement and quickly changed the entire perception of
the UECL qualication phase. During the group stage and
particularly during the knock-out stage, the quality and
competitive balance of the competition was high, with an
appealing AS Roma – Feyenoord UECL nal in Tirana. At
the same time, the UEFA Europa League, now reduced
to 32 teams, delivered great quality and continued to
oer the perfect stage for clubs from a great variety of
associations, with the presence of a club from an ECA
3rd subdivision association, Rangers FC, in the nal.
International Match Calendar (IMC) – no solution
yet
The women’s and men’s IMCs are due to expire at
the end of 2023 and 2024 respectively and as yet no
agreement has been formalised on the next calendars.
The season was marked by FIFA’s campaign in favour
of a radical IMC review, which included a biennial world
cup for both men and women. After much debate, FIFA
distanced itself from the proposals and the discussions
on the IMC continue.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
2021/22 Financial report:
road to sustainability
with support of new
UEFA FSR framework
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The 2021/22 season was marked by the approval of
new UEFA Club Licensing & Financial Sustainability
Regulations but, most importantly, by the return
of fans in most European countries enabling clubs
to return to normal business operations.
Following two consecutive seasons of revenue
uncertainty, most European clubs’ nancial operations
returned to pre-pandemic levels – illustrated by a
summer 2022 transfer market estimated at €5.7bn
although largely dominated by the English Premier
League
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To nance the cash shortage of these two dicult
seasons, clubs drew down on their reserves, activated
shareholder injections where possible, or engaged
in further debt nancing. As result, European clubs’
net equity decreased by 25% since the start of the
pandemic
2
and third-party nancing increased; in some
cases, future revenues have also been mortgaged. ECA
engaged with UEFA to explore the possibility of creating
a recovery fund to help clubs nance the cash shortage,
but eventually this option has been put on hold pending
an improvement in market conditions. ECA is committed
to keep working alongside UEFA to nd a possible
solution to help clubs continuing to suer from liquidity
and structural debt issues.
Although on a recovery path, the overall economy of
European clubs remains fragile and clubs face high
xed cost commitments from times of previous revenue
growth, particularly wages.
As ECA CEO, Charlie Marshall, said during the year: “The
clubs are still operating in a system with volatile revenues,
but rigidly xed costs. As such, we must be able to build
up nancial buers and, ultimately, mechanisms to
better manage costs in the event of external shocks to
revenue. In this regard, moving from a xed cost-based
system to integrate and incentivise a more variable pay
structure is of the highest importance for the clubs”.
The launch of the new UEFA Club Licensing & Financial
Sustainability Regulations in April 2022, after an
exhaustive consultation process between ECA and
UEFA, along with other stakeholders, was an important
milestone for the entire European club landscape.
Retaining and strengthening the key elements of the
FFP system while representing clubs of all shapes and
sizes and adding some key new elements – notably the
inception of the ‘Squad Cost Rule’ cap - will help ensure
clubs operate in a genuinely sustainable manner capable
of absorbing external shocks.
As ECA Executive Board Member and Chair of ECA’s
Finance Working Group, Michael Verschueren, said:
“These new Financial Regulations oer a genuine path to
stability and sustainability for clubs of all sizes because
they directly tackle costs for the rst time, while also
1. UEFA - Intelligence Centre
2. UEFA European Club Football Landscape – Intelligence Centre
Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
retaining, evolving and strengthening the most eective
elements of the current Financial Fair Play system.
“Both UEFA and ECA will continue to monitor the impact
and eectiveness of the regulations and move quickly
to amend them as and when required”.
ECA Administration is currently actively working on
providing additional nancial services to its broad
membership. The attendance of 100 clubs at the rst-
ever ECA Club Financial Sustainability Workshop held
in Geneva in November 2022 was testimony to the
increasing demand for these types of services.
Finally, the ECA Financial Report 2021/22 was approved
by the ECA Executive Board at its meeting on 25 August
2022.
Introduction to the 2021/22 nancial report
This report covers the nancial year 2021/22,
corresponding to the fourteenth ECA nancial period
from 1 July 2021 to 30 June 2022. All displayed amounts
are in EUR thousands (‘000) and are reported under
Swiss GAAP. The presented gures have been audited
by Ernst & Young (E&Y).
The 2021/22 nancial year has been notable for (i)
the return of physical events enabling enhanced
Membership and stakeholder engagement and (ii) the
delivery of certain key projects such as the approval of
the Post 2024 UCC format and access, as well as the
framework around UEFA Club Competitions regulations
(“UEFA Club Licensing and Financial Sustainability
Regulations”). The overall relationship with UEFA
including the creation and interim operations of the
new Joint Venture to manage commercial matters going
forward has been and continues to be a major project
for the administration.
On the services side, on top of the daily support
rendered to members on all key club football matters,
the 4th edition of the Club Management Programme
(“CMP”) was successfully launched, and various research
initiatives (such as fans and women’s football matters)
have been active through the season. The newly
revamped legal journal and legal roadshows concept
have been particularly well received. Youth studies and
workshops have generated great engagement while
our Women’s football “Be a Changemaker” strategy
continues the implementation of its projects across its
six strategic goals.
The evolution of the ECA administration’s sta and
organisational model is ongoing albeit at a slower pace
than initially budgeted, requiring (as per budget) the
leasing of additional oce space in Nyon as of season
2022/23.
Finally, as validated by the ECA Board and presented to
the ECA General Assembly in March 2022, ECA – under
the supervision of the Board appointed Ukraine Relief
Committee and facilitated by the UEFA Foundation for
Children - contributed an overall €1.0m donation to
member clubs’ eorts with humanitarian initiatives in
order to assist the Ukrainian people so terribly aected
by the tragic circumstances in their country.
The presented 2021/22 ECA accounts were audited
by E&Y and approved by the ECA Executive Board
at its meeting on 25 August 2022.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Income Statement (in €) 2021/2022 2020/2021
Income
10’057’800 8’178’601
Operating expenses
-9’062’364 -7’014’099
Earnings before interest, tax,
depreciation, amortization (EBITDA)
995’436 1’164’502
Depreciation
— —
Earnings before interest and tax (EBIT)
995’436 1’164’502
Financial expenses -12’648 -5’636
Operating result before taxes
982’788 1’158’866
Extraordinary income, non-recurring 51’288 43’896
Extraordinary expenses, non-recurring -1’000’000
1
-916’884
2
Result before taxes
34’076 285’879
Income taxes -79’932 -35’134
Net result
-45’856 250’744
1
As validated by the ECA Board and presented to the ECA General Assembly in March 2022, ECA – under the supervision of the Board appointed
Ukraine Relief Committee and facilitated by the UEFA Foundation for Children - contributed an overall €1.0m donation to member clubs’ eorts with
humanitarian initiatives to assist the Ukrainian people so terribly aected by the tragic circumstances in their country.
2
The 2021/22 extraordinary expense amount is mostly composed of the increase in the risk provision recorded during this nancial year. This
provision was increased due to the potential liability, which may arise from European Club Association participation in the decision-making process of
the football governing bodies and European football system.
Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Funding
Total ECA funding for the 2021/22 period amounted to
€10’057’800 (vs. €8’178’601 in 2021/22).
Same as in previous years, the main source of funding
remains the contribution from the UEFA Champions
League (UCL). Other income was generated from
membership fees and some of the registration fees for the
fourth edition of the ECA Club Management Programme
(“CMP”).
Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23Financial Report 2021/22 and Budget 2022/23
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Funding
Reporting as at 30 June 2022 (in €)
Budget Actual
Membership Fees 24’500 24’600
UCL contribution 21/22 1’600’000 1’164’502
UCL contribution 21/22 drawdown 9’200’000 8’400’000
3
Other income 48’300 33’200
Total Funding
10’872’500 10’057’800
3
Please note that €0.8m related to the 2021/22 budget will appear in the 2022/23 accounts due to invoicing schedule
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Expenses
The total expenses in 2021/22 amounted to €10’023’724
(vs. €10’023’724 in 2020/21).
The €1.0m unbudgeted donation related to the Ukraine
Relief Fund was nanced by the lower than originally
budgeted operating expenses (around 20%), mostly due
to lower travel and event costs and sta costs (postponed
recruitments).
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Expenses
Reporting as at 30 June 2022 (in €)
Budget Actual
Sta & HR Costs 5’418’704 4’537’316
General Expenses 999’742 880’384
Events & Travel Costs 2’814’133 2’055’961
Consultancy & Research 1’990’054 1’604’303
Operational foreign exchange dierences — -15’600
Total Operating Expenses 11’222’632 9’062’364
Financial Expenses 25’000 12’648
Extraordinary items — 51’288
4
Ukraine Relief Fund — 1’000’000
5
Total Expenses 11’247’632 10’023’724
4
This balance is mostly composed of a reimbursement related to the accommodation of the cancelled GA 2019 in Valencia, foreign VAT
recovered and withholding tax commission for the period.
5
The amount reported corresponds to the €1.0m donation to the UEFA Foundation for Children (cf. note 1) which is not fully tax deductible.
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2021/22
Balance Sheet
The total balance sheet as at 30 June 2022 amounts to
€4’222’853 (vs. €3’673’134 as at 30 June 2021).
The increase is mostly explained by later UCL contribution
collection (Trade Receivables) and increase in accrued
expenses related to year-end costs review.
Annual Report & Financial Report 2021/22 and Budget 2022/23
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ASSETS (in €)
30/06/2022 30/06/2021
Cash & cash equivalents 3’118’924 3’087’711
Trade receivables from third parties 882’400 439’543
Other short-term receivables from third parties 80’282 73’129
Accrued income and prepaid expenses 42’176 19’591
Tangible xed assets — —
Financial assets 99’070 53’160
Total Assets 4'222’853 3'673’134
Balance Sheet
2021/22
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Annual Report & Financial Report 2021/22 and Budget 2022/23
22
Balance Sheet
2021/22
€4’222’853
30/06/2022
Assets
74%
Cash & cash
equivalents
21%
3rd party Trade
receivables
2%
Other short-term receivables
from third parties
1%
Accrued income &
prepaid expenses
2%
Financial assets
Financial Report 2021/22 and Budget 2022/23
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23
LIABILITIES & EQUITY (in €)
30/06/2022 30/06/2021
Trade payables & short-term interest-bearing
liabilities
333’664 597’869
Accrued expenses and deferred income 1’672’102 869’143
Provisions 1’593’674 1’536’853
Total equity 623’413 669’270
Total Liabilities & Equity 4'222’853 3’673’134
Balance Sheet
2021/22
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Annual Report & Financial Report 2021/22 and Budget 2022/23
24
Balance Sheet
2021/22
€4’222’853
30/06/2022
Liabilities
& Equity
40%
Accrued expenses &
deferred income
8%
Trade payables & short-term
interest-bearing liabilities
15%
Total equity
38%
Provisions
Annual Report & Financial Report 2021/22 and Budget 2022/23
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25
Financial Report 2021/22 and Budget 2022/23
2022/23
Budget
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Budget 2022/23
General Remarks
A 2022/23 UCL contribution budget of €14.0m has
been approved by the ECA Executive Board for
recommendation to the General Assembly. This
represents an important improvement compared
to the 2021/22 contribution (a total of €9.2m
budgeted and €8.4m drawn down) to strengthen the
continuous growth of the ECA Administration as well
as the development of all its services activities for its
members clubs.
The rest of the budgeted funding will comprise of
unchanged membership fees (proposed to remain
unchanged at €100) as well as the 4 remaining sessions
of the Club Management Programme.
The currency exchange (EUR vs CHF) rate assumed for
budgeting purposes is CHF 1.030 for €1.00.
On the costs side, it is important to note that the
current market conditions around the EUR/CHF rate
are not favourable for ECA leading an equivalent of a
+10% increase of the HR and General costs – all things
being equal.
The 2022/23 year should see the continuous
development of the operating model and stang
developments of the ECA Administration informed
further by a proposed strategic review, setting the
strategy and delivery requirements for the cycle 23-27
and beyond. Key general overhead items will include
the addition of oce space, further development of
ECA’s digital and communications channels.
On key strategic matters, the MOUs with both UEFA
and FIFA are to be concluded, including the full
realisation of the Joint Venture with UEFA as well as
the Post 2024 Distribution model. This new season will
also see the development of the ECA Network as well a
new phase of the Fan Research programme.
The 2022/23 season will also mark the launch of
several signicant and ambitious new projects aligned
with ECA’s women’s football strategy. We will see the
introduction of ECA Women’s Football Summit - a new
strategic and agship event in the ECA calendar and
the continuation of two ‘rst of its kind’ Women’s High
Performance research studies, to name just a few.
ECA will continue, in parallel, to develop its Youth
pillar and continuous engagement with members
on Financial Sustainability, legal, commercial and all
other matters via its “helpdesk” approach and the
organisation of dedicated workshops and events.
On the education side, 4 sessions of the CMP 4 will take
place while other additional education programmes
are planned for future implementation. A revamped
communications strategy will support all ECA activities
and initiatives.
At full budget, a nancing gap of €0.2m is foreseen in the
2022/23 budgeted net result. As per the last seasons
and in order to keep the call on UCL revenues as low
as possible, this will be addressed via a combination
of focus on savings via close budget monitoring on a
quarterly basis and ECA’s reserves if need be.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Budget 2022/23 (in €)
UCL Contribution 2021/22 800’000
UCL Contribution 2022/23 14’000’000
Other 172’800
Total Funding 14’972’800
Sta & HR Costs 6’681’900
General Expenses 1'438’365
Events & Travel Costs 4'403’624
Consultancy & Research 2'565’575
Other Items 24’126
Depreciation 58’508
Total Expenses 15’172’098
Result before Taxes -199’298
Taxes
—
Net Result
----199’298
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Annual Report & Financial Report 2021/22 and Budget 2022/23
The continued development
of Women’s Football
5
29
ECA’s Women’s Football unit has continued to build on
the success of the ‘Be a Changemaker strategy’, which was
launched in March 2021 and received support from some
of the game’s most inuential gures.
Rapid implementation of over 15 projects across ve
strategic goals has already yielded impressive results and
strengthened ECA’s position as a key stakeholder in the
women’s game.
ECA’s intention to strengthen our capabilities in women’s
football in the forthcoming seasons will only add to the
value, positive change and leadership ECA provides its
members. A proposal to formalise a new section of ECA’s
membership structure dedicated to women’s clubs will
be put in front of the ECA General Assembly in the near
future.
Women’s High Performance Advisory Group
Amongst many highlights, ECA introduced the Women’s
High Performance Advisory Group composed of medical
and sports science experts from clubs all over Europe who
have vast experience working specically with women’s
teams.
“We often talk about the lack of medical related research
in women’s football, but the reality is that it means it is
very dicult to develop evidence-informed approaches to
things like training or injury rehabilitation,” explained ECA’s
Head of Women Claire Bloomeld.
There is also an increasing number of players now
competing full-time, and that, coupled with the shift
towards professional leagues means we really must
drill down into these subjects and address this gap in
knowledge – and this is exactly what our Advisory Group
have been tasked with.
Kicking o its rst in-person meeting at the home of FC
Bayern Munich, the Group has surpassed initial targets
and already initiated not one, but two rst-of-their-kind
research studies with industry leading partners and
academics. The results of the research studies on football
boots for female players and on the impact of menstrual
cycle and hormonal proles on players’ performance will
be released next year.
The success of the Women’s High Performance Advisory
Group since its launch has inspired the development
of similar groups dedicated to men’s football and
opportunities for these two groups to collaborate are
currently being explored in the 2022/23 season.
ECA Women’s Football Committee
This year also marked the end of an era for ECA’s Women’s
Football Committee as long-standing Vice-Chair Linda
Wijkström stepped down from the role, though she will
continue to provide her expert insights to the group.
Reecting on her valuable contribution, ECA CEO, Charlie
Marshall, said: “On behalf of ECA, I would like to sincerely
thank Linda for supporting our long-term mission to drive
growth and professionalisation in the women’s game.
Women’s football simply wouldn’t be where it is now
without passionate people like Linda constantly striving to
take us to new heights.”
Bianca Rech, Sporting Director at FC Bayern Munich was
appointed to the role until the end of the 2022/23 season.
UEFA Women’s EURO
This season also saw the introduction of a club benets
programme for the UEFA Women’s EURO – for the rst-
time acknowledging the clubs’ contributions to the
competition’s success by releasing their players.
Following extensive negotiations, and with the valuable
support of Jean-Michel Aulas, the chair of ECA’s Women’s
Football Committee, ECA secured approximately €4.5
million for the benet of the clubs releasing players to
participate in national team competitions.
Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
ECA continued to increase its service delivery to ECA
Member Clubs, driving towards the next level of club
engagement.
Since it’s foundation in 2008, ECA has built up a portfolio of
club services, including education and research programmes,
webinars, workshops and access to data analytics.
The volume and range of services oered to ECA Members has
increased over the last couple of seasons, leading to a growing
number of club ocials benetting from ECA support.
During the season, an accumulated number of 1,300 club ocials
participated in either a physical or online meeting/workshop and
when individual consultancy services are included, in particular
legal services, more than 100 dierent clubs were reached.
Bringing ECA services to
the next level
6
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Workshops organised during the season covered a
wide range of topics, including youth football, women’s
football and an array of commercial topics such as media,
metaverse, NFTs and sponsorship.
Numerous ECA publications were released this season,
including:
• 12 Quality Areas Youth Football Report: this report is
designed to enable those working in youth football
to have a better understanding of the factors that
have a signicant impact on the quality of individual
youth academies.
• A new ECA Legal Journal: a bi-annual legal
publication was introduced in 2022 to keep clubs
up to date with relevant legal and jurisprudential
developments and provide them with high quality
legal analysis on selected topics.
• Future of Fandom - Engaging the Younger
Generation: this report is the second in the series
of the ‘Future of Fandom’ research programme
on modern fandom. It shines a light on the
shifts in football consumption patterns by the
younger generation in a world where media and
entertainment, and technology oer access to live
content, on-the-go, 24/7.
In terms of education, the fourth edition of the ECA Club
Management Programme began in June 2022 and will
see 27 senior executive students visit Paris, Los Angeles,
Stockholm and Nyon to learn from a range of guest
speakers from both the academic and sporting world, as
well as visiting some of the most modern iconic sports
venues in the world.
In 2022 ECA re-launched its partnership with ESSMA.
This partnership will help ECA Member Clubs access new
additional content in stadium-related areas of expertise
around safety, security, and development.
The ECA Administration was happy to be able to increase
its engagement with its members after the travel
restrictions imposed by the pandemic. It was a pleasure
to host physical General Assemblies again and to invite
the member clubs to one of the four PEC meetings held
in early June 2022.
Diederik Dewaele, ECA’s Director of Football overseeing
ECA’s membership and services projects, pointed to the
importance of ECA intensifying its services portfolio and
said:
“More than ever before, we have focused on delivering
tailor-made services around a series of subjects which
are close to the clubs’ businesses. We have expanded our
existing services and built deeper engagement with our
clubs via in-person meetings, workshops, webinars and,
publications and research.”
ECA now plans to oer a suite of additional services
that will be of benet to various departments inside
our member clubs. These additional services include a
second education programme focusing on young talents,
the Club Talent & Mentoring Programme, as well as more
personalised academy visits and extra support to clubs
on UEFA Club Competitions and revenue distribution.
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Annual Report & Financial Report 2021/22 and Budget 2022/23
ECA Member Clubs
7
Albania FK Kukësi Ordinary Member
KF Vllaznia Associated Member
FK Partizani Associated Member
Andorra FC Santa Coloma Ordinary Member
UE Sant Julià Associated Member
Armenia Alashkert FC Ordinary Member
FC Pyunik Associated Member
FC Urartu Associated Member
Austria LASK Associated Member
FC Salzburg Ordinary Member
SK Rapid Wien Ordinary Member
SK Sturm Graz Associated Member
Azerbaijan Gabala SC Ordinary Member
Neftçi PFK Associated Member
Qarabağ FK Ordinary Member
Belarus FC BATE Borisov Ordinary Member
FC Dinamo Minsk Ordinary Member
FC Shakhtyor Soligorsk Associated Member
Belgium RSC Anderlecht Ordinary Member
Club Brugge Associated Member
KRC Genk Ordinary Member
KAA Gent Ordinary Member
R. Standard de Liège Associated Member
Bosnia-Herzegovina FK Sarajevo Associated Member
NK Široki Brijeg Associated Member
FK Željezničar Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
HŠK Zrinjski Ordinary Member
Bulgaria PFC Botev Plovdiv Associated Member
PFC CSKA-Soa Ordinary Member
PFC Levski Soa Associated Member
PFC Ludogorets 1945 Ordinary Member
Croatia GNK Dinamo Ordinary Member
Zagreb Associated Member
HNK Rijeka Ordinary Member
Cyprus AEK Larnaca FC Ordinary Member
APOEL FC Ordinary Member
Anorthosis Famagusta FC Associated Member
Apollon Limassol FC Ordinary Member
Omonoia FC Associated Member
Czech Republic AC Sparta Praha Ordinary Member
FC Slovan Liberec Associated Member
FK Mladá Boleslav Associated Member
AC Sparta Praha Ordinary Member
SK Slavia Praha Ordinary Member
FC Viktoria Plzeň Ordinary Member
Denmark Aalborg BK Associated Member
Brøndby IF Ordinary Member
F.C. Copenhagen Ordinary Member
FC Midtjylland Ordinary Member
FC Nordsjælland Associated Member
Odense BK Associated Member
England Arsenal FC Ordinary Member
Aston Villa FC Associated Member
Chelsea FC Ordinary Member
Everton FC Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Leicester City FC Associated Member
Manchester City FC Associated Member
Manchester Utd FC Associated Member
Liverpool FC Associated Member
Newcastle United FC Associated Member
Tottenham Hotspur Associated Member
Estonia FC Flora Tallinn Associated Member
FC Levadia Tallinn Associated Member
Nõmme Kalju FC Ordinary Member
Faroe Islands NSÍ Runavík Associated Member
EB/Streymur Associated Member
B36 Tórshavn Associated Member
HB Tórshavn Associated Member
Víkingur Ordinary Member
Finland HJK Helsinki Ordinary Member
FC Inter Turku Associated Member
SJK Seinäjoki Associated Member
France AS Monaco FC Ordinary Member
AS Saint-Étienne Associated Member
FC Girondins de Bordeaux Associated Member
LOSC Lille Associated Member
Montpellier Hérault SC Associated Member
Olympique Lyonnais Ordinary Member
Olympique de Marseille Ordinary Member
Paris Saint-Germain Ordinary Member
AS Saint-Étienne Associated Member
Stade Rennais FC Associated Member
Georgia FC Dinamo Tbilisi Ordinary Member
FC Chikhura Sachkhere Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
FC Samtredia Associated Member
Germany Bayer 04 Leverkusen Ordinary Member
FC Bayern München Ordinary Member
VfL Borussia Mönchengladbach Associated Member
Borussia Dortmund Ordinary Member
Eintracht Frankfurt Associated Member
RB Leipzig Associated Member
TSG 1899 Hoenheim Associated Member
FC Schalke 04 Ordinary Member
SV Werder Bremen Associated Member
VfL Wolfsburg Ordinary Member
Gibraltar Lincoln Red Imps FC Ordinary Member
Greece AEK Athens FC Associated Member
Asteras Tripolis FC Associated Member
Atromitos FC Associated Member
Olympiacos FC Ordinary Member
PAOK FC Ordinary Member
Panathinaikos FC Associated Member
Hungary Budapest Honvéd FC Associated Member
Debreceni VSC Associated Member
Fehérvár FC Ordinary Member
Ferencvárosi TC Associated Member
Iceland FH Hafnarfjörður Ordinary Member
KR Reykjavík Associated Member
Stjarnan Associated Member
Valur Associated Member
Israel Beitar Jerusalem FC Associated Member
Bnei Yehuda Tel-Aviv FC Associated Member
Hapoel Beer-Sheva FC Ordinary Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Maccabi Haifa FC Associated Member
Maccabi Tel-Aviv FC Ordinary Member
Italy ACF Fiorentina Associated Member
AS Roma Ordinary Member
Atalanta BC Ordinary Member
ACF Fiorentina Associated Member
FC Internazionale Milano Ordinary Member
AC Milan Ordinary Member
SSC Napoli Ordinary Member
UC Sampdoria Associated Member
Udinese Calcio Associated Member
Liechtenstein FC Vaduz Ordinary Member
Lithuania FK Riteriai Associated Member
FK Sūduva Associated Member
FK Žalgiris Vilnius Ordinary Member
Luxembourg FC Dierdange 03 Associated Member
F91 Dudelange Ordinary Member
CS Fola Esch Associated Member
Kazakhstan FK Aktobe Associated Member
FC Astana Ordinary Member
FC Kairat Almaty Ordinary Member
FC Shakter Karaganda Associated Member
Kosovo KF Drita Ordinary Member
FC Prishtina Associated Member
Latvia FK Liepāja Associated Member
FK Spartaks Jūrmala Ordinary Member
Lichstenstein FC Vaduz Ordinary Member
Lithuania FK Riteriai Associated Member
Lithuania FK Sūduva Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
FK Žalgiris Vilnius Ordinary Member
Luxembourg FC Dierdange 03 Associated Member
F91 Dudelange Ordinary Member
CS Fola Esch Associated Member
Malta Birkirkara FC Associated Member
Birkirkara FC Associated Member
Valletta FC Ordinary Member
Moldova FC Milsami Orhei Associated Member
FC Sheri Tiraspol Ordinary Member
FC Zimbru Chișinău Associated Member
Montenegro FK Budućnost Podgorica Associated Member
OFK Titograd Associated Member
FK Sutjeska Associated Member
FK Zeta Associated Member
Netherlands AFC Ajax Ordinary Member
AZ Alkmaar Associated Member
Feyenoord Ordinary Member
SC Heerenveen Associated Member
PSV Eindhoven Ordinary Member
FC Twente Associated Member
FC Utrecht Associated Member
Vitesse Associated Member
North Macedonia FK Rabotnički Associated Member
KF Shkëndija Ordinary Member
FK Vardar Associated Member
Northern Ireland Cliftonville FC Associated Member
Crusaders FC Ordinary Member
Glenavon FC Associated Member
Glentoran FC Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Lineld FC Associated Member
Norway Lillestrøm SK Associated Member
Molde FK Ordinary Member
Odds BK Associated Member
Rosenborg BK Ordinary Member
Strømsgodset IF Associated Member
Vålerenga Fotball Associated Member
Viking FK Associated Member
Poland Jagiellonia Bialystok Associated Member
KKS Lech Poznań Ordinary Member
Legia Warszawa Ordinary Member
WKS Śląsk Wrocław Associated Member
Wisła Kraków Associated Member
Portugal SC Braga Associated Member
SL Benca Ordinary Member
CS Marítimo Associated Member
FC Porto Ordinary Member
Sporting Clube de Portugal Ordinary Member
Republic of Ireland Cork City FC Associated Member
Dundalk FC Ordinary Member
Saint Patrick's Athletic FC Associated Member
Shamrock Rovers FC Associated Member
Romania FC Astra Giurgiu Associated Member
CFR 1907 Cluj Associated Member
FCSB Ordinary Member
Russia PFC CSKA Moskva Ordinary Member
FC Krasnodar Ordinary Member
FC Lokomotiv Moskva Ordinary Member
FC Rostov Associated Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
FC Rubin Associated Member
FC Spartak Moskva Associated Member
FC Zenit Ordinary Member
San Marino La Fiorita 1967 Ordinary Member
SS Murata Associated Member
SP Tre Flori Associated Member
SP Tre Penne Associated Member
Scotland Aberdeen FC Associated Member
Aberdeen FC Associated Member
Celtic FC Ordinary Member
Heart of Midlothian FC Associated Member
Rangers FC Ordinary Member
Motherwell FC Associated Member
Serbia FK Crvena Zvezda Ordinary Member
FK Partizan Ordinary Member
FK Vojvodina Associated Member
Slovakia MFK Ružomberok Associated Member
ŠK Slovan Bratislava Associated Member
AS Trenčín Associated Member
FC Spartak Trnava Ordinary Member
MŠK Žilina Associated Member
Slovenia NK Domžale Associated Member
NK Maribor Ordinary Member
NK Olimpija Ljubljana Associated Member
Spain Athletic Club Associated Member
Club Atlético de Madrid Ordinary Member
Real Sociedad de Fútbol Associated Member
Sevilla FC Ordinary Member
Valencia CF Ordinary Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
Villarreal CF Ordinary Member
Sweden AIK Ordinary Member
Djugårdens IF Associated Member
IF Elfsborg Associated Member
AIK Ordinary Member
IFK Göteborg Associated Member
Switzerland BSC Young Boys Ordinary Member
FC Basel 1893 Ordinary Member
FC Sion Associated Member
FC Thun Associated Member
FC Zürich Associated Member
Turkey Beşiktaş JK Ordinary Member
Fenerbahçe SK Ordinary Member
Galatasaray AS Ordinary Member
Istanbul Başakşehir Associated Member
Trabzonspor AS Associated Member
Ukraine FC Dynamo Kyiv Ordinary Member
FC Shakhtar Donetsk Ordinary Member
FC Zorya Luhansk Ordinary Member
Wales Connah's Quay Nomads FC Associated Member
The New Saints FC Ordinary Member
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Annual Report & Financial Report 2021/22 and Budget 2022/23
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Financial Report 2021/22 and Budget 2022/23
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