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Le Parisien report this afternoon that Paris Saint-Germain have registered over €300m in losses for last season, far beyond what was initially expected.
The exact number will be confirmed by the DNCG – French football’s financial watchdog – in the coming months, but according to several sources the number will reach €350m, in excess of the plan presented to the organisation in charge of monitoring club’s accounts in June 2021.
PSG, whose losses the previous season were €224m and the year before that €124m, will need to correct several issues over the course of the current season lest they be hit with sanctions.
Reasons for the high losses include the fact that there are too many players under contract on high wages, as well as the lasting impact of the Covid-19 pandemic. The number of players loaned out or sold this summer – which saw the club bring in €55m in total, is a positive step forward, although the club is aware they need to do more. The upper management has planned for an €800m budget – should they stay within those means they will be able to compensate for last season’s losses.
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