Sport

Serie A golf equipment racked up staggering debt of £2.3BN… leaving many facets in a ‘crucial state of affairs’

Serie A clubs racked up staggering debt of £2.3BN last season… leaving many sides in a ‘critical situation’ with coronavirus outbreak looming large

  • The financial statements of the 2018-19 Serie A season have been released
  • It is grim reading for all 20 clubs, as they racked up a mammoth £2.3bn debt
  • It has led to huge concerns over the future due to the coronavirus pandemic
  • Coronavirus symptoms: what are they and should you see a doctor?

The financial statements for the 2018-19 season have been released and it is hugely worrying reading for all 20 clubs, especially with the coronavirus outbreak looming over them.

According to Italian publication La Gazzetta dello Sport, a mammoth debt of £2.3billion (€2.5bn) was racked up overall by all 20 Serie A sides last campaign.

This is all the more concerning with the coronavirus pandemic among us, which has decimated the football calendar at present.

La Gazzetta dello Sport have released the hugely alarming financial statements of last season

La Gazzetta dello Sport have released the hugely alarming financial statements of last season

The coronavirus crisis had led to worrying times for Juventus chairman Andrea Agnelli and Co

The coronavirus crisis had led to worrying times for Juventus chairman Andrea Agnelli and Co

The Italian paper ran with the headline: ‘How can an indebted Serie A defend itself from the coronavirus emergency?’ 

The Serie A season has been suspended and there are fears the rest of the campaign may not be able to be played out as the Italian government desperately look to battle against the coronavirus crisis.

The potential cancellation of the domestic season would lead to ‘dire scenarios’ for all Italian top-flight clubs, according to La Gazzetta dello Sport.

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Furthermore, the average annual increase in cost from the year previous is an eye-watering £267million (€292m).

The report adds that Italian giants Juventus amassed the best revenue figures but at the same time, recorded massive expenses.

Serie A matches were played behind closed doors before the suspension of the season

Serie A matches were played behind closed doors before the suspension of the season

Atalanta, meanwhile, made a big profit due to sales but the possible cancellation of the season could spell many other economic problems for the Champions League quarter-finalists.

Only Napoli, Torino and Cagliari have not racked up debts but their finances would take a huge dive by the early finish to the current season. 

Serie A are desperate for the season to start and finish by June 30 and they view it as unimaginable for the campaign to go on any further for a number of reasons, including financially and a worrying lack of preparation for the players.

The coronavirus pandemic could lead to a reduce in players’ wages in Italy if the football calendar blows into a full crisis.  

Cristiano Ronaldo and Co do not have any idea when they will next return to the pitch

Cristiano Ronaldo and Co do not have any idea when they will next return to the pitch 

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