FILE PHOTO: A logo is pictured on a backdrop before a news conference after an UEFA Executive Board meeting in Nyon, Switzerland, December 9, 2016. REUTERS/Denis Balibouse/File Photo
NYON, Switzerland (Reuters) - European football's top-division clubs made a profit for the first time on record in 2017 as their collective revenue surpassed 20 billion euros (£17.9 billion), UEFA research showed.
European football's governing body attributed the success to its Financial Fair Play break-even rule and said that when it was introduced in 2011 clubs had made a collective loss of 1.7 billion euros.
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