There was good news and bad news for European club football in the financial story of the 2012-13 season, as compiled by professional services firm Deloitte in its latest Annual Review of Football Finance.
The good news is that, whether as a consequence of UEFA’s Financial Fair Play (FFP) initiative or for some other reason, top-tier clubs in the five big west European football markets of England, France, Germany, Italy and Spain, do seem to be managing their financial affairs more sustainably.
There is plenty of evidence to support this conclusion.