Turnover below €100 million: Who are the most valuable clubs?
25 June 2021
Valuation rankings tend to focus on the biggest clubs in Europe. But what about the middle- and smaller-sized clubs?
We have looked at the valuation of 100 clubs with a turnover below €100 million.
We have used the following method called equity value to estimate clubs' valuation: Turnover ∗ EnterpriseValue(EV)/Revenue Multiple ÷ Net Debt. A liquidity premium discount of 20 per cent is applied to take into consideration the natural illiquidity of unlisted trades. The EV/Revenue multiple is based on the average EV/Revenue multiple of 17 publicly listed European clubs.
Four of the ten clubs were from LaLiga, with the recently crowned Europa League champions Villarreal finishing top.
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