The massive hit-single 'Money Money Money' by Abba included a lyric which suggested it is a rich man's world and that certainly seemed to be borne out last week as Bayern Munich overcame Juventus 2-0 in the Champions League quarter-final first leg.
Juve coach Antonio Conte was quick to point out the difference between the two clubs economically after the game as the media asked him to explain why there had been such a gulf displayed over the 90 minutes.
"Bayern spent €48 million on one player, Javi Martinez, and there ends every conversation..." said the Bianconeri boss. "They spend money, and we see the difference it makes. There are not enough buckets and spades to build a squad like that."
Such words will have made president Andrea Agnelli and director general Giuseppe Marotta somewhat twitchy, but they have really taken the right road in their bid to stand the Old Lady back on her feet. Still, they remain a long way from being a top club like Bayern, who have become a model of virtuosity, ending the last 12 financial years in profit. Juve, therefore, were not just beaten over 90 minutes. Instead it was a defeat that had been a long time in coming thanks to the comparative balance sheets.
Let us compare the financial statements of the two clubs for season 2011-12.
|THE 'SPREAD' BETWEEN BAYERN AND JUVENTUS
As Juve bounced back to win their first post-Calciopoli title, their own revenues increased by 24.2% to €213.8m. While that may be a big jump, their receipts remaining minuscule in comparison to the Bavarians. In 2010-11 they recorded revenue €118.9m shy of Bayern, and the following year it was still €118.5m short of what FC Hollywood could boast. All the same, Juventus' much improved balance sheet came thanks in part to Juventus Stadium, which helped to the tune of €20.3m, while there was also a big step forward in sponsorship and marketing, with revenues of €10.2m.
|THE BALANCE SHEET
The Turin side have also made huge strides, but their accounts remain in the red. In fact, their statements showed a loss of €48.7m last year, albeit a significant improvement on 2010-11's €95.4m losses.
|STADIUM AND MARKETING
According to the Deloitte Money League, however, Juventus earned just €31.8m from the gates at Juventus Stadium, and €90.6m more from TV rights. Another €73m came from sponsorship and advertising. You can tell by the numbers that the two models are completely different; the Germans being focused on marketing and merchandising, while the Bianconeri rely on TV rights.
Bayern also sell almost twice as many replica shirts - 830,000 against 480,000 - while they earn double the revenue from their main title sponsor and kit manufacturer contributions. Bayern's contracts with Adidas and Deutsche Telekom earn them €50m compared to Juve's €25m from Nike and Jeep.
It is clear which is the more desirable financial model of the two.