Spanish Football Profits Nearly $29M From Euro Title
Spain's national football team finished Euro 2012 as both the winner "on the field and in the finances," according to MARCA. Spain's performance brought €23M ($28.9M) of a possible €23.5M ($29.6M) to the Royal Spanish Football Federation. That number represents 98% of the maximum possible. The team tied Italy in their initial group match, which resulted in €500,000 ($628,750) instead of €1M ($1.3M) if they had won. Spain pocketed €8M ($10.1M) for participating in the competition, €500,000 ($630,000) for their group stage tie against Italy, €1M ($1.2M) for each of their group stage wins over Ireland and Croatia, €2M ($2.5M) for their quarterfinal win over France, €3M ($3.8M) for beating Portugal in the semifinal and €7.5M ($9.4M) for beating Italy in the final (MARCA, 7/3).
SPONSORSHIP IMPACT: FORBES' Patrick Rishe opined that as he "watched Spain pass and score their way into history," he wished he could be the "marketing rep for some of Spain's biggest stars" such as Iker Casillas, David Silva, Cesc Fabregas, Xabi Alonso, Xavi or Andres Iniesta. Football is the "world's most popular sport," and Spain has now "achieved something within this sport for people to marvel at worldwide." For the sake of La Roja's players, Rishe hopes "their agents and marketing firms are frenzied and aggressive in securing additional product endorsement deals within the next 60 days." The marquee value of the players' and team's brand "has never been higher" (FORBES, 7/1). EXPANSION.com's M. Menchen reported that the team could "increase up to 35% the income it receives from sponsors." When some of the national teams sponsors like Spanish beer producer Cruzcampo and Chevrolet signed on back in '08, "few expected that their brand would be linked" with the only selection that has managed to win three major competitions in a row: two European Championships and the World Cup (EXPANSION.com, 7/2).