Serie A make first profit in 17 years

Cape Town - Serie A clubs have generated a net collective profit for the first time in 17 years but remain in a precarious position and are too reliant on television rights money, according to a report Monday.

Mired in debt and mediocrity following the golden era of the 1990s and early 2000s, Serie A's clubs last year registered collective losses of 222m euros, only a slight improvement on the previous season's losses of 365m euros.

For the first time since the 1999-2000 season, Italy's top flight is back in the black, with 11 of the league's 20 clubs posting net profits. Nine remain in the red.

Top of the pile, according to the report, are southern giants Napoli, with 66.6m euros of net profit last season, followed by Juventus (42.6m) and Lazio (11.4m).

Yet any enthusiasm on the part of Serie A aficionados is tempered by the fact that other league giants are struggling financially, the league as a whole has a growing debt and a growing reliance on cash generated by television rights.

Seven-time European champions AC Milan, taken over by a Chinese consortium last year, posted losses of 74.9m euros. Roma (41.7m) and Inter (24.6m) were also in the red.

Gazzetta's report also underlined Serie A's growing debt. For the first time, Serie A's collective debt surpassed two billion euros (2.1bn), compared to 1.87bn last year.

Television rights also represent 56% of the league's total revenues, ahead of brand merchandising (22%) and match-day ticket sales (10%).

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
loading... Live
Ireland 0
India 111/1
loading... Live
England (w) 276/5
South Africa (w) 284/10
Voting Booth
Would you be keen to see the Springboks join the Six Nations?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes! The Northern Hemisphere is the future.
53% - 3423 votes
No! The Rugby Championship is still the pinnacle.
47% - 3045 votes
Vote