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Football will see a drop in transfer fees and salaries following the COVID-19 pandemic and the sport needs to adapt to a new reality, said Bayern Munich CEO Karl-Heinz Rummenigge.
His team last week secured their eighth successive league crown and despite still fighting for a treble of titles, Bayern should expect their annual turnover of more than 700 million euros ($790.44 million) to drop by about 50 million due to the pandemic, Rummenigge said.
The Bundesliga was suspended for more than two months in March following the spread of the virus across the globe, restarting without fans in May as clubs' revenues continued to drop.
"Football must try to become a bit more rational in order to be better prepared for future crisis," Rummenigge told Handeslblatt newspaper on Tuesday.
"In the past decade football, with higher-faster-longer when it came to transfer fees and player salaries, went a considerable way beyond its target. We delivered a breath-taking competition for transfers that cannot be called rational any more."
While Bayern had traditionally avoided paying high prices for players, they also joined the big spenders last year, forking out a league record 80 million euros for defender Lucas Hernandez, who spent much of the season injured.
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