CHINA - 2020/03/22: In this photo illustration the Italian football professional top division Serie ... [+]
SOPA Images/LightRocket via Getty ImagesSerie A, Italy’s top-flight soccer league, could be facing losses up to $770 million due to the SARS-COV-2 pandemic, according to ‘La Gazzetta dello Sport’.
The Milan-based newspaper quotes a report issued by the accountancy firm Deloitte, who estimated the economic loss that the Italian soccer clubs could suffer should the season not be concluded.
The Italian soccer league league has been suspended in the midst of the COVID-19 outbreak, with 13 fixtures remaining.
At present, the most optimistic proposal is to restart the season on May 2, and conclude it on June 30.
“I believe that Serie A can return on 3rd May” said on national TV Italian sports minister Vincenzo Spadafora.
UDINE, ITALY - MARCH 08: A general view inside the stadio Friuli before the Serie A match between ... [+]
Getty Images“Then we will evaluate whether it’s played behind closed doors, or open to the public”, the minister concluded.
According to the report, should Serie A be able to complete the season, the losses would stand at a more manageable $182 million.
The provision, however, seems to be rather optimistic, given that according to some estimates, the COVID-19 pandemic could reach its peak around May-June.
If this would be the case, returning to football in spring to finish the season seems increasingly unlikely.
According to a study conducted by KPMG’s Football Benchmark team - a accounting firm specialised in soccer finance - “having to cancel the season is a possible scenario”.
The report, issued on March 17, calculated that the total revenue loss for the top 5 European championships - English Premier league, Spanish La Liga, German Bundesliga, Italy's Serie A and France's Ligue 1 - could be in the region of $4.33 billion.
Should the current season be cancelled, the Serie A could lose around $107 million in matchdays revenues alone, leaving aside the legal aspects connected with the reimbursement for seasons tickets.
The biggest loss would come from broadcasting rights. The report estimate that between domestic and foreign TV rights, Italian clubs stand to lose out on close to $485 million.
Finally, commercial and sponsorship revenues contracts would amount to a loss estimated to be around $160 million.
The report concludes that “the amount of money at stake is massive and for some clubs, a cancellation of club competitions at both national and European level could prove to be financially unsustainable”.
A scenario that prompted the soccer clubs to turn to the government to ask for help, if the coronavirus pandemic completely wipes out the rest of the season.
According to ‘La Repubblica’, the clubs are planning to ask for concrete and viable ways to receive financial assistance, in an attempt to ease out the financial blow.
Suggestions reportedly include modifications to new stadium regulations, streamlining bureaucracy and removing the recently introduced ban on commercial partnerships with the betting industry.
ROME, ITALY - FEBRUARY 24: FIGC President Gabriele Gravina attends the press conference after the ... [+]
Getty ImagesThe different proposals will be formulated officially by Serie A chief executive Luigi De Siervo, who will then report to the government.
“It is an emergency situation for the whole country and we must treat it as such.” said Italian soccer federation President Gabriele Gravina in a radio interview on March 18.
“We’ll work on it and activate every possible mechanism with the Government and authorities.”
2020-03-22 17:51:16Z
https://www.forbes.com/sites/giacomogalardini/2020/03/22/coronavirus-shutdown-could-be-financially-unsustainable-for-serie-a-soccer-clubs-study-shows/
Bagikan Berita Ini
0 Response to "Coronavirus Shutdown Could Be ‘Financially Unsustainable’ For Serie A Soccer Clubs, Study Shows - Forbes"
Post a Comment