EURO 2008 ouster will cost England as nation

England's inability to advance in the EURO 2008 competition will cost the British economy more than GBP 2 billion.

Simon Chadwick, a Professor of Sport Business Strategy and Marketing at Coventry Business School, said lost revenue will go beyond losses felt by the Football Association.

"For the country as a whole, the failure to qualify is likely to have even more dire consequences," Chadwick told TeamTalk. "A successful run to the 2008 final would have led to a GBP 2 billion bonanza for the economy. At one level, this would have been the result of sales increases in food and beverages, merchandise, magazines and newspapers and so forth."

Chadwick also cited the so-called 'Feel-good factor' in which the success of an athletic team or club rubs off on workers throughout a region or nation, causing productivity boosts.

The professor also estimated that the FA will lose GBP 15 million in additional revenue that could have come from sponsorship and media deals. Some sponsorship deals will have to be renegotiated.

English Newcastle United owner Mike Ashley said his Sports World chain faced major losses from England national replica shirts. Umbro, the national uniform supplier, also said some of the failure would be felt financially this year.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.