Tech

Serie A CEO: ‘System on Verge of Collapse,’ Cites $580 Million Revenue Drop

By Andrew Cohen 9.30.2020

Italian soccer league Serie A has lost more than $580 million in revenue due to the coronavirus pandemic. The top-flight league blames its losses on sharp decreases in match day revenues and sponsorship deals.

“As of now, Serie A is experiencing a shortfall of more than 500 million euros. The whole system is on the verge of collapse,” Serie A CEO Luigi De Siervo said in an interview with Italian state broadcaster Rai, according to Reuters.

Serie A kicked off its 2020-21 season earlier this month. COVID-19 restrictions limit clubs to admitting no more than 1,000 fans into stadiums.

To combat its financial losses, Serie A is considering selling a minority stake in a newly formed company that would control the league’s broadcast rights for the next 10 years. Private equity firms CVC Capital Partners and Bain Capital are bidding for a 10% stake in the company, according to Reuters.

PREVIOUS How Technology Is Improving Fan Transactions at Sports Venues NEXT Tennessee Titans' COVID-19 Outbreak Threatens NFL Games

SPONSORED CONTENT

ADDITIONAL SECTIONS

PODCASTS

SBJ Morning Buzzcast: May 15, 2024

May 15, 2024

The W's big night; here come the Valkyries and a major step forward in Jacksonville

NASCAR’s Brian Herbst, NFL Schedule Release, Caitlin Clark Effect

May 15, 2024

On this week’s pod, SBJ’s Austin Karp chats with our Big Get, NASCAR SVP/Media and Productions Brian Herbst. The pair talk ahead of All-Star Weekend about how the sanctioning body’s media landscape has shaped up. The Poynter Institute’s Tom Jones drops in to share who’s up and who’s down in sports media. Also on the show, David Cushnan of our sister outlet Leaders in Sport talks about how things are going across the pond. Later in the show, SBJ media writer Mollie Cahillane shares the latest from the network upfronts.

SBJ I Factor: Molly Mazzolini

April 23, 2024

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

SBJ TV

Sports Media Podcast April 24 Whos Up Whos Down

4 mins

Sports Media Podcast April 17 2024 The Big Get Molly Solomon

5 mins

Sports Media Podcast March 27 2024

29 mins

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2020/09/30/Technology/serie-a-ceo-system-on-verge-of-collapse-cites-580-million-revenue-drop.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2020/09/30/Technology/serie-a-ceo-system-on-verge-of-collapse-cites-580-million-revenue-drop.aspx