Series A accumulates € 2.5 billion in debts and trembles with COVID-19

One of the inheritances of the COVID-19 emergency will be a harsh economic crisis that will also affect the world of soccer, which is already looking for measures to reduce losses (and plans to cut the salaries of its players as soon as possible). ‘La Gazzetta dello Sport’ dedicated today an extensive report to the state of the accounts of the Serie A teams, speaking of a situation that gives “chills” and that preluded a “dire scenario” if the emergency will lead to cancel the leagues this season.

Series A expenses have risen from 500 million, from 3,000 to 3,500 million euros, compared to a sales volume of 2,722 million. The debts also continue to grow: now they are close to 2,500 million and the risk of “implosion” is enormous. The Calcio clubs were engulfed by the increase in profits from television rights (1.44 billion) and commercial income (650 million): a 'treasure' that, however, the teams used to reinforce their squads and not for virtuous investments ( infrastructures, quarries …).

Salaries increased almost 300 million (from 1482 to 1756): Series A continues to spend borrowing and obviously that is not “the best condition to face a health and economic emergency.” Those that could hold up better in the storm are the clubs that closed their balance sheets to benefit, but they are only five out of 20: Naples (+29.2 million), Atalanta (+24), Sampdoria (+12.1), Sassuolo (+8.1) and Udinese (+1.2).

The azzurri de Laurentiis are also in the select group of teams without bank debt, with Cagliari and Torino. Juventus and Inter were experiencing years of expansion, they will suffer a stoppage, but they will be able to count on their solid owners: the Exor of the Agnelli (which has already intervened with a 300 million capital increase) and Suning, which has reopened its stores in China. Milan, which accumulated 528 million losses in five years, will have it more complicated and there are doubts about the decisions of the Elliott fund for the future. And Roma, for their part, have already been seriously affected: the sale of the club to Dan Friedkin has been frozen.