Coronavirus crisis could cost Serie A over €700 million, says FIGC chief Gabriele Gravina

The coronavirus pandemic has wreaked havoc on sporting events across the globe and the Serie A is expected to lose more than €700 million in revenue if the plan to resume football fails. Italian Football Federation (FIGC) president Gabriele Gravina issued a grim update on the financial repercussions of the coronavirus, with the Serie A currently suspended. While the FIGC will meet with the Minister of Sports in Italy to discuss a potential Serie A return on June 13, there are likely to be severe financial consequences with an extended suspension.

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Coronavirus Italy: FIGC to meet with Sports Minister of Italy

FIGC President Gabriele Gravina spoke to Riparte l’Italia magazine to address the Serie A return and revealed that coronavirus has already caused damage worth over €500 million. The broadcasting, sponsorship and matchday revenue has failed to supply any income since coronavirus halted football in Italy over two months ago. However, the Italian government is slowly planning to resume football to prevent a total collapse of sporting teams in the country. Gravina highlighted that football in Italy revolves around 100,000 employees and generates substantial revenue for the state.

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Gravina added that the FIGC is in contact with the Minister for Sport, Vincenzo Spadafora over a potential Serie A return from  June 13 onwards. However, the health and economic ministers in Italy will also play a part in deciding whether the football is safe to resume amid the situation surrounding coronavirus in Italy. Failure to resume the Serie A by June 13 could further take the total loss of revenue over €700 million. Although football must be played in a safe environment, Gravina insists that the losses will continue to add up if there is a delay in the Serie A restart. 

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Serie A return: Serie A training

Amid the coronavirus lockdown, Serie A clubs have begun training for the potential resumption of the Italian top division for next month. Serie A leaders Juventus had talisman Cristiano Ronaldo training a few days ago following his return to Turin from Madeira. Juventus are leading the Serie A table on 63 points before coronavirus halted football in early March while Lazio remain just a solitary point behind the Old Lady, with 12 matchdays remaining until the end of the campaign.

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