European football – An opportunity to reset

Report Overview

European football – An opportunity to reset

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European football – An opportunity to reset
The COVID-19 crisis is compounding the already grim revenue prospects for upcoming football rights sales in continental Europe
The financially weakest leagues in Italy and France are especially exposed. Serie A is exploring deals with private equity firms, with the pros and cons finely balanced
There is a window of opportunity for Sky and Canal+—the adults in the room—to build coalitions with selected clubs to nudge leagues towards needed reforms including longer licence terms, reducing the number of clubs and more equal revenue splits

Contents

Germany: Bundesliga has no alternative to Sky

Italy: Serie A lured by financial engineering

France: Countdown to a reality check

The PE option

Pay-TV as the adult in the room

List of charts/tables

Figure 1: Broadcasting rights outlook

Figure 2: Bundesliga live domestic rights (€m per season)

Figure 3: Bundesliga live rights packages, 2021-25

Figure 4: Serie A live domestic rights (€m per season)

Figure 5: Ligue 1 domestic rights (€m per season)

Figure 6: COVID-19 impact on Ligue 1's results, FY ending June 2020 (€m)

Figure 7: Major private equity investments in European football clubs