Bundesliga teams are some of the least financially transparent in Europe: "German clubs are really a black box in terms of transparency"
18 May 2021
German football is on the forefront of pushing for financial sustainability but when looking at financial transparency they are decades behind other big European leagues.
Only four Bundesliga clubs publish their financial reports on their websites. The rest point to the DFL's annual financial overview with only a few selected key figures.
UEFA's club licensing regulations require clubs to publish their last audited financial information.
Neither UEFA nor the DFL are willing to answer questions on the lack of disclosure, criticised by accounting and auditing professor.
Financial sustainability and a sensible balance have been pushed to the top of the agenda in the European football community after the pandemic all but pulled the rug out from under the industry.
One of the clearest advocates for a new approach is the German Football League (DFL), who often champions itself on transparency and accountability through its 50+1 ownership model.
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