Close Brothers Seydler Research AG - BVB Aktie - Borussia Dortmund

2440.0
1422.0
1560.0
1440.0
1000.0
2440.0
1548.0
1520.0
1500.0
1040.0
2681.1
1644.0
1640.2
1576.5
1073.7
2680.9
1811.4
1693.1
1629.2
1130.8
Borussia Dortmund GmbH & CO KGaA
Revenue development of the European “big five” leagues
The English Premier League remained the highest revenue generating league in
world football, but, with its clubs’ revenues staying flat at approximately
EUR 2.680bn in FY 2011. The gap to the second ranked German Bundesliga
decreased to EUR 870m from 1.04bn in FY 2010.
Overview of “big 5”
leagues
Development gross revenue largest European leagues (excluding
transfer revenues) in EUR m
3000.0
2500.0
2000.0
1500.0
1000.0
500.0
0.0
2008 2009 2010 2011
Premier League Bundesliga Primera División Serie A Ligue 1
Source: UEFA Benchmarking Bericht 2011, CBS Research AG
The German Bundesliga has the highest average attendances in European football
(44,297) which helped consolidate its second placed with EUR 1.811bn for
FY 2011 in revenue ranking. The Bundesliga achieved with 10.2% the highest
revenue growth of Europe’s ‘big five’ leagues.
Spain’s Primera División achieved a revenue growth of 3.2%, much of which was
driven by increased revenues at Real Madrid and Barcelona. Both clubs generate
more than half (58,8%) of the revenue or EUR 995m in the most polarized of
Europe’s ‘big five’ leagues, in terms of revenue distribution within the league.
Revenues in Italy’s Serie A increased by EUR 52.7m (3.3%) to EUR 1.629bn, so
Italy remains in fourth position and a long way ahead of France’s Ligue 1, whose
revenues (EUR 1,130bn) grew by the second highest amount (5.3%) amongst the
‘big five’ leagues.
Outside of the ‘big five’ countries, Russia (EUR 800m), Turkey (EUR 500m), and
The Netherlands (EUR 480m) have the largest revenue generating leagues.
Revenues of the top 20 football clubs
In 2011/12 the top 20 league clubs with the highest remuneration generated over
EUR 4.8bn represented an increase of 10% in comparison to the previous year
(EUR 4.4bn). In contrast to Europe’s top leagues the football’s top 20 earning clubs
contribute over one third (36.45%) of the total revenues of the European football
market (EUR 13,169bn for FY 2011 according to UEFA). Interesting to note is that
all of the top 20 clubs are based in one of Europe’s ‘big five’ European markets –
England (7), Italy (5), Germany (4), Spain (2), and France (2). Revenues exclude
player transfer fees, VAT and other sales related taxes.
Top 20 football clubs
www.cbseydlerresearch.ag Close Brothers Seydler Research AG | 35