Like so many other industries, the business of football has been hugely disrupted by the pandemic. Games were postponed and when rescheduled played in empty stadia without the noise, and significantly, revenue generated by supporters. Many clubs faced an existential crisis. And that's not gone away. 

Recovering from the impact of Covid-19 on the sport will take time. It will also take new thinking around the finances of the game. With the transfer window open across Europe and countless news articles discussing the fortunes, or otherwise, of some of the continent's leading clubs, we look at the value creation levers available to clubs and the growing number of private equity investors in the sport.

You can also read our short series on sustainable football finances: