Coronavirus: Serie A clubs set to lose out on important revenue as matches are to be played behind closed doors
26 February 2020
Five Serie A matches in the northern part of Italy will be played without fans in attendance this weekend.
Juventus could lose out on as much as €3 million per home match without fans, while AC Milan could lose a little less than €1.5 million per match.
Ratings agency Fitch says the virus will put revenue pressure on affected stadiums.
Northern Italian Serie A clubs look sure to lose out on important revenue as the coronavirus continues to disrupt the league, causing five of the upcoming weekend's matches to be played behind closed doors.
The virus has now claimed its tenth victim in the northern part of the country and infected more than 300 people, according to Reuters, sending markets into a downward spiral.
Analysts are now forecasting that the Italian economy will shrink in the first quarter, meaning Italy will face its fourth recession since 2008.
And football clubs will not be immune to its impact, particularly in the northern part of the country, which is home to clubs like Juventus, Inter, AC Milan and Atalanta, among others.
Juventus could lose out on close to €3 million per home match played without fans, according to offthepitch.com calculations, while a club like AC Milan could lose around €1.4 million and Inter €1.7 million.
Juventus, presenting a €46 million pre-tax loss in the first half-year, saw their stock drop some 11 per cent on Monday as fears over the virus sent the Italian FTSE MIB index into a dive, dropping around 5.4 per cent.
European shares fell for the fifth day on Wednesday as investors continue to fret about the situation.
"The novel coronavirus has led to postponements or cancellations of various sports events, primarily in APAC, which will put pressure on affected stadiums' revenues," said ratings agency Fitch.
"While a postponed event simply delays revenue generation, events that are cancelled, relocated or proceed with low attendance lead to lost income."
If more matches are postponed, the Italian league will face a tight schedule ahead of this year's UEFA European Championship, which requires all football competitions, except for the Champions League and the Europa League, to be completed by 24th May.