Bundesliga posts loss despite record turnover

The Bundesliga's 36 clubs in Germany's first and second divisions posted a combined loss last season for the first time since 2003 despite record revenue.

Revenue increased for the sixth season in a row, to more than 2.1 billion euros ($2.9 billion), but losses amounted to 103 million euros ($140.5 million).

"This is not a positive trend," league chairman Christian Seifert said Wednesday. "This is why the league association has taken measures for a stricter licensing procedure."

He added, however: "These figures are not alarming."

The first division accounted for losses of 78 million euros ($106 million), with three of the 18 clubs responsible for 93 percent of the losses, and seven reporting a profit.

Taxes totaled 700 million euros ($955 million), also a record.

Revenue has increased by 21.5 percent in the past three years, according to the league report on Wednesday.

Despite the losses, the Bundesliga's finances compare favorably with those of Europe's other major leagues.