November 25, 2020

The revenues of European clubs could be reduced by 6.3 billion euros due to COVID-19

Jakarta (threeriversburghblog) – European clubs’ revenues could be reduced by up to 6.3 billion euros (about 109 trillion rupees) due to the COVID-19 pandemic, said European Club Association (ECA) chair Andrea Agnelli.

The finances of football clubs in the Blue Continent have been hit hard as the health emergency has forced many countries to ban games or reduce the number of spectators if competition resumes.

“Without competition we don’t have access to a number of items on the balance sheet and without them the system is not sustainable,” Agnelli, who is also the chairman of Juventus, said at a meeting of the Italian Serie A League board of directors. .

“We may not be able to examine the implications of this situation in detail until the fall of 2021,” he added.

The preliminary calculation of the ECA includes lost ticket revenue, the impact of the emergency on medium to long-term commercial transactions and contracts for television rights that need to be renegotiated.

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Reporter: Gilang Galiartha
Editor: Irwan Suhirwandi

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