Kpmg, the football clubs that are worth more in Europe: Inter Milan, Milan black jersey. Juve, Ronaldo is not enough

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The distance from the treasure. Not even an Italian among the ten richest and most powerful teams in Europe: l‘England it has six, thereto Spain recapture the throne with the Real (in front of the Manchester United, and also puts on the podium Barcelona), Germany places iBayern. Finally, France with the Psg undermines Juve from the top 10. The numbers of the fifth edition of the Kpmg study “The European elite” will remain as a reference for years, unattainable. Covid-19 has overwhelmed championships and accounts, but those who start forward are still better equipped to the storm. The business value of clubs – that of Real close to 3.5 billion, for the Juve it is half – it was calculated (as of January 1, 2020) on the basis of several parameters: profitability, popularity, television rights, value of the squad and stadium of ownership.

Milan, two faces. The rampant one of theInter from Suning, 14th, a growth rate of 42%, the third highest in Europe. And an excellent + 146% since 2016, since the arrival of the Chinese giant. A good relationship between costs and revenues and a strong rise on social networks: the followers mark + 353% compared to five years ago, no one else has earned so many.

The sad face of the Milan. Of the 32 companies in question, it is the only one to have seen its value decrease: -3%, (from 545 million to 526), ​​against an overall development of the sector of 51%. Cups vanished, changes of hand and heavy passives for a 22nd place behind Leicester, Lyon and Everton. “For the first time there is no Italian in the top 10 – explains Andrea Sartori, head of sports at Kpmg -, despite Juve being 12% better (11th ed) “. The effect Ronaldo it should have been seen in the next balance sheets, now completely to be redone. CR7 he brought an avalanche of followers and more money from the sponsors, but he also raised management costs: «In the top 10, no team is above the 70% threshold of the ratio between revenues and total salary. There Juve it’s 71%: revenues have increased, but costs even faster ».

As for the Milanese, the climb of Inter is held back by the stadium question: “Il Tottenham, ahead in the ranking also for the Champions League final, it has its own system. But in Milan the difference is in the two properties: Inter is in the hands of a strategic investor. It gives a lot to the club, but it receives a lot. The Inter brand is used in China to sell products. The Milan it is owned by a fund, and in a sense it is a problem. The goal of Elliott – adds Sartori – is to increase the value and then exit. But in football if you don’t invest it becomes difficult to grow. And investments are also limited by financial fair play, so a vicious circle starts. “

The coronavirus tsunami is having and will also have tremendous effects on the elites: «We can evaluate it from the stock exchange: the actions of Manchester and Juve they devalued by 20-25%. Looking instead at the value of the squad, in case of cancellation of the season the average drop is estimated at 27-28%, on 17-18% in case of recovery. But the data varies: some companies will be able to better absorb the damage, while those who live by player trading will be more affected ».

May 28, 2020 (change May 28, 2020 | 14:40)

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