Accumulative Deficit of USD158m for Ligue 1 Soccer Clubs

The president of the French Football League (FLP) Frederic Thiriez has revealed the need for calm after a report by the league’s financing authority, the national directorate of management control (DNCG), unveiled worrying financial results for the country’s top soccer clubs.

In its annual report for the year through to June 30, 2010, the DNCG announced a cumulative deficit of nearly US$180m for clubs, with Ligue 1 outfits accounting for $157.8m of the total.

The losses for the 20 clubs in the top flight were reduced to $157.8m after write-downs by some shareholders, but Thiriez is concerned that the deficit has increased from $78.9m in the previous financial year.

In an interview with Reuters, Thiriez stated: “The accounts are not good. However, it is necessary to keep our heads. This report will be submitted to the union so that it can make its observations.”