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Italian football clubs, severely affected by the repercussions of the new coronavirus pandemic, have unanimously agreed that private investors enter the new company tasked with increasing revenues from television broadcasting rights. This deal is expected to result in pumping in around € 1 billion and € 700 million for Series A clubs, which have suffered record losses due to the financial and economic repercussions of the pandemic. After the XX clubs agreed last September to establish a company dedicated to the marketing and management of television broadcasting rights, yesterday Thursday they unanimously approved a tripartite proposal presented by private investors, including CVC Capital Partners, one of the largest companies. Previously, the owner of the shares in the Formula 1 World Championship, league sources told the French Press Agency, which cited the news yesterday afternoon. This proposal, which was approved at a meeting of the General Assembly in the capital, Rome, stipulates that the three companies, “CVC”, “Advant” and “FCI”, will contribute up to 10 percent in the future company. This unprecedented alliance with private investors was still being questioned by some clubs a few weeks ago. But the large amount the three companies are expected to contribute put an end to those doubts in the face of the clubs’ suffering.
The consequences of the pandemic have increased the economic difficulties for Italian football, which has already been in danger for several years.
Juventus, champions for the past nine seasons, announced in mid-October that it had posted losses of 89.7 million euros ($ 105 million) in the fiscal year ended June 30, indicating that the current deficit it was more than double the deficit for the year. Previous financial.
The Premier League, the Premier League, is the most profitable of the five major leagues in Europe, due to the huge money that clubs make from television rights, advertisements and sponsors. Despite the large impact of the Corona virus on TV broadcast revenue, this issue had a minor impact on Premier League clubs compared to Italian, French or Spanish League clubs. The English Premier League is considered the most outstanding for its great diffusion and the great following it enjoys around the world, as a result of the great competition in the league there.
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