The Evolution of UEFA Reforms and Their Impact on Clubs from Smaller Markets

By Andrea Caropreso

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Over the last twenty years, UEFA competitions have undergone a profound transformation, with a direct impact not only on the major clubs of the top leagues but, above all, on teams from medium and smaller markets. On the one hand, the reforms have led to a significant increase in the number of teams involved (and thus higher revenues), but on the other, they have sparked debate about the real competitiveness of certain matches—those in which a European football giant faces a club with a much smaller fan base and history.

The evolution of formats

Through a series of reforms, UEFA has sought to make its tournaments more inclusive, offering more opportunities to clubs from so-called small and medium football markets. The first major turning point came in 2009/10, when the UEFA Cup officially became the Europa League. The group stage expanded to 48 clubs and the so-called “Champions Path” was introduced, giving national champions from smaller leagues easier access to the main phases.

A second milestone arrived in 2021/22, with the creation of the Conference League. This third competition increased the overall number of participating clubs to 96, while reducing the Europa League to 32 teams. By creating an “intermediate” tournament, UEFA both provided a new stage for clubs that would have struggled to find space elsewhere and made the Europa League even more competitive.

This led to last season’s radical change in the top competition: the Champions League. The introduction of a single expanded league stage raised the total number of participants to 108, adding 28 spots compared to just four years earlier. Never in UEFA history had there been such a substantial increase.

The impact on medium and small clubs

These reforms have had a real impact, particularly on clubs considered medium or small. If we analyze the number of teams from outside UEFA’s top 10 ranked leagues, we see that until 2010, smaller markets accounted for only one-third of participants. With the recent introduction of the Conference League, however, their share has climbed to nearly half, reaching 49% in the 2024/25 season. In practice, the chances of seeing at least one team from a minor league in the group stage have multiplied.

However, while access has increased, performance remains uneven. The Champions League continues to be almost prohibitive—cases like Kairat Almaty remain unique. Never in the history of the Champions League (even under its old formats) had a club starting from the first qualifying round managed to reach the group stage (today’s League Phase).

By contrast, the Conference League has opened a more concrete path: in each edition, at least six clubs from outside the top leagues have reached the Round of 16, quarterfinals, or even semifinals, with one victory (Olympiacos in 2024).

The economic aspect

The core focus of this analysis, however, is not only sporting but also economic—namely, the impact that the expansion of UEFA competitions has had on these smaller realities. For such clubs, simply qualifying for a group stage represents a genuine financial leap.

Even the Conference League, which on paper is the third-tier competition, brings clubs between three and five million euros in revenue. Considering that many of these teams have annual revenues ranging from €10 to €30 million, it becomes clear that this can cover up to a quarter of their total turnover.

Local and international sponsors become more interested, TV visibility grows, and players’ market values rise. It is no coincidence that clubs like Dinamo Zagreb or Basel (veterans of UEFA competitions compared to teams like Qarabag or Kairat Almaty) have built their balance sheets on their ability to showcase young talent in Europe and then sell them for much higher fees.

By Andrea Caropreso