European Football clubs and their revenue sources: Where is the balance? Umberto Gandini Director of Sport Organization, AC Milan

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2 European Football clubs and their revenue sources: Where Umberto Gandini Director of Sport Organization, AC Milan

3 European Football Clubs and their revenue sources: Where Let us look at some facts and figures: 1. To start with, there is a big difference within the top-5 countries with regard to overall revenues 3,5 Total revenues 3 Estimated club average revenue (m ) 2,9 2,5 1,9 2 1,5 1,8 1,6 1,1 1 0,5 0 England Germany Spain Italy Top Five Associations France Club Average Revenue Total revenues by League (bn, ) England Sources: Deloitte Money League & UEFA Benchmark Report 2011 Germany Spain Italy Top Five Associations France

4 European Football Clubs and their revenue sources: Where Let us look at some facts and figures: 2. There is a big difference with regard to the revenue sources amongst clubs from top-5 countries Revenue streams by country - top 5 100% 90% 80% 70% 60% Commercial 50% Match-day revenues UEFA Prize 40% Broadcasting 30% 20% 10% 0% England Germany Spain Italy France Sources: UEFA Benchmark Report 2011 & GMG Broadcasting revenues: distribution ratio (2010/11) England 1,54 to 1 Germany 2 to 1 France 3,51 to 1 Italy 10 to 1 Spain 12,5 to 1

5 European Football Clubs and their revenue sources: Where Let us look at some facts and figures: 3. Also amongst the 20 richest clubs, there are differences in revenue sources Revenues by streams (m ) ,2 186,9 145, ,2 201,6 87,1 64,9 179,8 139,4 107,7 81, ,2 116, ,5 96,8 128,5 99, ,3 50,3 51,3 93, ,6 17,1 58,1 36,8 68, ,8 70,6 71, ,4 117,7 64,4 85,4 96,1 38,1 33,8 55,9 31,8 31,4 23,2 50,8 43,1 24,6 18,1 17, ,7 29, ,3 78,2 Matchday Source: Deloitte Money League 90,6 Broadcasting 112,4 76,1 Commercial

6 European Football Clubs and their revenue sources: Where Let us look at some facts and figures: 4. Stadium attendance varies a lot in top countries 2011/12 average league attendance top GER ENG ESP ITA NED FRA SCO RUS SUI UKR Source: UEFA Benchmark Report 2011 and Wikipedia 2012/13 average stadium attendance top-20 Borussia Dortmund 80,520 Germany Manchester United 75,529 England Barcelona 73,660 Spain Real Madrid 71,368 Spain Bayern Munich 71,000 Germany Schalke 04 61,076 Germany Arsenal 60,079 England Hamburger SV 52,916 Germany 51,037 Netherlands Ajax Newcastle United 50,517 England VfB Stuttgart 50,054 Germany Borussia Mönchengladbach 49,623 Germany Eintracht Frankfurt 48,044 Germany Manchester City 46,974 England Celtic 46,917 Scotland Atlético Madrid 46,631 Spain Rangers (4) 45,750 Scotland FC Köln (2) 45,250 Germany Feyenoord 45,083 Netherlands Internazionale 44,897 Italy

7 European Football Clubs and their revenue sources: Where What can we learn from these facts and figures? (1/2) In top-5 countries: big differences not only with regard to overall revenue, but also with regard to revenue sources England: income mainly from broadcasting and match-day revenues Spain: match-day and commercial revenues Italy: broadcasting revenues! Germany: match-day and commercial revenues (mainly sponsorship revenues) France: broadcasting and commercial revenues Possible reasons for these differences: Does the club own/control its stadium? If yes: often more revenues from other events in stadium and/or conference space rental: advantage for top clubs in England, Germany Level of broadcasting revenues from the league and distribution ratio amongst top-division clubs Fan base and sponsorship + merchandising opportunities (national and international) Champions League revenues Internal club structure and ownership Economical situation

8 European Football Clubs and their revenue sources: Where What can we learn from these facts and figures? (2/2) How could clubs from top countries improve their revenue streams? Control stadium and surrounding area is a must! Optimizing overseas broadcasting revenues? Invest in quality squad? Invest (even more) in youth academy? What is the importance of Financial Fair Play in this? Would FFP have a leveling effect? What about revenues from transfers? Incoming transfer revenues remain important, even for top-division clubs in major leagues Some exceptions, but limited (FC Barcelona, FC Bayern München)

9 Thank You! Umberto Gandini Director of Sport Organization AC Milan First Vice-Chairman European Club Association (ECA)