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Pandemic has cost more than a billion euros to Italian football

Pandemic has cost more than a billion euros to Italian football

The covid-19 pandemic, especially from closed-door matches, has generated more than € 1 billion – $ 1,176 million – of lost revenue for Italian professional soccer in the last two seasons, according to a report published on Thursday. by the Federation.
«Globally, during the first two seasons affected by covid-19 (2019/20 and 2020/21), it is estimated that professional football has lost nearly one billion euros of revenue (…) while the cost of production was it has remained relatively stable (slight increase of 163 million euros -191 million dollars-) ”, underlines this report prepared by the Federation with the PwC cabinet.
“The global impact is estimated at more than 1,100 million euros (almost 1,300 million dollars),” add the authors.
This loss of income has contributed to increasing the losses and debts of a sector that was already in the red (-412 million euros, -484.5 million dollars) before the pandemic, at the end of the 2018/19 financial year, they underline .
Beyond the professional sector, the pandemic has also had a strong impact on all of football in Italy, with about a quarter fewer players registered between June 30, 2019 and March 15, 2021 (-23%, 245,000 players less to reach 820,000 approximately) according to this annual balance of the Italian Federation.
This decrease in football activity has also had indirect repercussions on the rest of the economy, in particular with a decrease of some 27,000 jobs in “employment generated by the football sector”.
And the authors insist, to straighten out Italian football, on the importance of renovating the stadiums, and building new ones, in order to increase the number of spectators and the box office profits for the clubs.

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