Serie A expecting huge financial losses

The coronavirus pandemic had a major impact on various football leagues across Europe. Italy was one of the worst affected countries due to coronavirus. Serie A, the premier football division of Italy, suffered massive losses due to pandemic and suspension of games.

In an interview with Rai Sport, Serie A chief executive Luigi De Siervo confirmed that the Italian league is facing revenue losses worth €500 million.

After a strict lockdown, Serie A resumed in June. The 2019/20 campaign was completed behind closed doors. Since the threat of the virus is still looming, the new season has also kicked off without fans in the stadium. The clubs are also facing a financial crisis in the absence of matchday revenue.

The broadcasting revenue also dipped due to the rescheduling of games. Serie A will have to come up with creative ideas to navigate through financial constraints. The new broadcasting rights will be important in offsetting losses, while Serie A has sounded out to private equity investors to sell stake in the business controlling the sale of its media rights.

In the interview published by Sky Sports in Italy, De Siervo also suggested that there could be surprises regarding domestic media rights.

He said, “There would be positive surprises, despite the fact that there is currently no strong competition as was the case in past years when Mediaset competed for the TV rights.”

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