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Italy's Serie A Doubles Parachute Payments

Italy's Serie A agreed to "double parachute payments for relegated teams this season," according to FOOTBALL ITALIA. There was a meeting of the league Monday to discuss the distribution of TV rights, with parachute payments a "particular bone of contention." It was eventually agreed that the total paid to the three demoted teams would rise from €30M ($32.6M) to €60M ($65M) this season, with "only Chievo and Palermo voting against." It was agreed that a team which has spent three of the last four years in Serie A will receive a payment of €25M ($27M), "something which would apply to Verona." A team which has been part of two of the last three Serie A campaigns would be awarded €15M ($16M), while teams such as Carpi and Frosinone with one Serie A season will get €10M ($11M) "if they are relegated." The agreement represents a compromise, as Juventus, Milan, Inter, Roma, Napoli and Fiorentina wanted "higher payments for the teams finishing in the top half of the table, as the sides more likely to finish in the top positions." Those more likely to be "battling relegation had been fighting for higher parachute payments" (FOOTBALL ITALIA, 2/26).

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