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Lost of profits while Italian football is still suspended
Italy - 06 February, 2007
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Italy's government is to impose new security measures for football stadiums, raising hopes that matches could resume this weekend.
The Football Federation (FIGC) president, Luca Pancalli, said a decision about when to restart play would be made by Thursday after a meeting of the Italian cabinet to approve the new measures on Wednesday.
Luigi Scotti, undersecretary at the Justice Ministry, told a news conference only five stadiums were in line with regulations, though that number could rise to 10 if away fans were banned. Interior Minister Giuliano Amato said that stadiums which do not meet safety regulations will have to hold matches behind closed doors without spectators.
Italian football industry members are worried that officials could decide to prolong a costly suspension on a sport that, beyond being a national obsession, rakes in an estimated EUR 6 billion a year, making it second only to England's Premier League. The temporary shutdown could already create a loss of millions in income.
Football revenue had increased after Italy won the World Cup last year, and that win is attributed to an increase in sales of advertising, clothing, television rights, ticket sales, sponsorships and legal betting.
A study by Deloitte financial consulting firm last year said approximately 44 million of Italy's 58 million people, which is 76 percent of the population, are interested in football. Thirty one million are fans while approximately 14 million go to the matches.
Live television football broadcasts counts around 1,500 hours a year, drawing an average of four million viewers. Nine million Italians read a daily sports paper but Italians also put their money where their heart is.
They invested about EUR 340 million of their money in shares of Italy's three listed football clubs, Roma, Lazio and Juventus.
Agipronews, a news agency specialising in betting news, says the government will lose EUR 3.1 million in tax revenues from legal betting every weekend that has no games, and the betting houses will lose EUR 5.9 million of business every weekend.
The agency also says Italians bet about EUR 30 million each weekend on football with about 70 percent of it put down on Italian clubs and the rest put on foreign clubs.
The Football Federation (FIGC) president, Luca Pancalli, said a decision about when to restart play would be made by Thursday after a meeting of the Italian cabinet to approve the new measures on Wednesday.
Luigi Scotti, undersecretary at the Justice Ministry, told a news conference only five stadiums were in line with regulations, though that number could rise to 10 if away fans were banned. Interior Minister Giuliano Amato said that stadiums which do not meet safety regulations will have to hold matches behind closed doors without spectators.
Italian football industry members are worried that officials could decide to prolong a costly suspension on a sport that, beyond being a national obsession, rakes in an estimated EUR 6 billion a year, making it second only to England's Premier League. The temporary shutdown could already create a loss of millions in income.
Football revenue had increased after Italy won the World Cup last year, and that win is attributed to an increase in sales of advertising, clothing, television rights, ticket sales, sponsorships and legal betting.
A study by Deloitte financial consulting firm last year said approximately 44 million of Italy's 58 million people, which is 76 percent of the population, are interested in football. Thirty one million are fans while approximately 14 million go to the matches.
Live television football broadcasts counts around 1,500 hours a year, drawing an average of four million viewers. Nine million Italians read a daily sports paper but Italians also put their money where their heart is.
They invested about EUR 340 million of their money in shares of Italy's three listed football clubs, Roma, Lazio and Juventus.
Agipronews, a news agency specialising in betting news, says the government will lose EUR 3.1 million in tax revenues from legal betting every weekend that has no games, and the betting houses will lose EUR 5.9 million of business every weekend.
The agency also says Italians bet about EUR 30 million each weekend on football with about 70 percent of it put down on Italian clubs and the rest put on foreign clubs.
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