Chief of the European Club Association Andrea Agnelli presented an alarming estimate of ‘a collapse in revenues of €4bn in the next two years’ due to coronavirus.
The Juventus President and ECA chief spoke at the 24th General Assembly and focused on the serious economic crisis in European football due to the current COVID-19 pandemic.
“Estimates speak of a collapse in revenues of €4bn over the next two years,” he said, according to Calcio e Finanza. “According to FIFA, 90 per cent of this loss will be related to clubs, because of several elements.
“We all played in empty stadiums, it’s not what we want to see and not just because of the atmosphere, but because an important source of revenues has been completely cancelled.
“We have seen important deals for discount to the main broadcasters, both nationally and internationally.
“No stadium revenues and no revenues from TV rights means that sponsors will also go towards a reduction, not only due to the lower exposure but also because many of the companies are still experiencing a difficult time linked to the pandemic.
“In my opinion, it will be difficult to review the same figures when we go to renegotiate the current agreements.
“Finally, there will also be an impact on the market, with estimates that speak of a reduction in values between 20 and 30 per cent.
“Basically, less money will circulate. The dramatic drop in revenues is relative, as mentioned, above all to clubs. I believe and I fear that some of the top clubs, individually, will have greater losses than entire federations.”
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