Football is still in shock for the resignation of Andrea Agnelli, the change of vertex in the Juventus, the championship challenges and the appetites of international investors for the "most beautiful sport there is".
“Interest in football is more alive than ever. This is demonstrated, among other things, by the new phenomenon of multi-club ownership. We started from Manchester City which has 11 clubs and we see Red Bull or Red Birds or 777. There must be strong interest from investors. But there is no response from our regulators who do not understand the differences between gaming and the industry”. L'farewell by Andrea Agnelli at the helm of Juventus, the exit from the Boards of Stellantis and Exor betrays more than one regret. Indeed, from the words of the president who has won the most with the club (29 trophies in all, including the victories of the black and white girls) it emerges, especially for those who know him, the desire to remain in the world of football, today one of the most promising businesses, both for the turnover in vertical growth (43 billion euros) and for the geopolitical prospects of a system in which it boasts high-level contacts and experience.
Football - a promising business. What can happen now
Of course, first it will be necessary to face the offensive of Turin Public Prosecutor's Office determined to send him to trial for capital gains and club salary maneuvers. Of course, after having given up his positions in Exor and Stellantis, Andrea Agnelli remains fully in the Giovanni Agnelli & Co. But it is unlikely that, strengthened by a respectable heritage (not just the stake in Exor) he is reduced to a rentier's life. Also because not a day goes by without football offering new reasons to appeal.
Manchester United up for sale, offer from Ratcliffe. But here comes Saudi Arabia
It is this morning's news that Jim Ratcliffe, owner of Ineos and the richest man in the UK has confirmed his intention to buy the Manchester United, the club put up for sale by the Glazers. Club value? Let's go says Bloomberg, from 5 billion pounds at least for the Wall Street-listed company. But Ratcliffe, defeated last year in the match for Chelsea, then sold to US billionaire Todd Boehly, will have to deal with theSaudi Arabia. Sports Minister Prince Abdulaziz bin Turki Al-Faisal came out of the closet to the BBC, confirming theinterest in the Reds or, alternatively, for Liverpool.
Riyadh's attention to the Premier League, by far the most followed championship (51 out of 55 European broadcasters lead by audience) collides with the aims of cousins from Qatar, owner of Paris Saint Germain, ready to bid on Tottenham, as well as on the usual Liverpool and Man United. The entrepreneur of Qatar Al Khelaifi, Agnelli's successor at the helm of the European club association and a great supporter of UEFA president Ceferin (in the face of financial fair play) has recently expanded his influence with the purchase of minority shares (23%) on Sporting Braga (Portugal). And now there is talk of his possible landing in the Premier League while the other very rich club in the English city, the City controlled by the Sheikh of Abu Dhabi.
Football: the Premier League is worth three times the Italian championship
The attention paid to the Premier League is not surprising, the English competition which represents the largest league in terms of turnover with an estimated value of 7.110 million euros in 2022/03, almost three times the value of the Italian league (2.400 million euros). But the attention does not end there Gulf countries for European football, as demonstrated by the Italian Super Cup final between Milan and Inter in Ryiad which follows the mini-tournament (semi-finals and final) that awarded the Spanish Cup.
And tomorrow it will be the turn of the exhibition that marks the debut of Cristiano Ronaldo in Saudi football, hungry for big fixtures to be resold on TV circuits. With a precise objective: to make Saudi Arabia, intent on becoming a tourist powerhouse, a regular stop for big football in view of the assignment of the 2030 World Cup. And to achieve this, the kingdom of oil has relied on a home manager our: Romy Gay, who grew up at Juventus when Andrea was a boy, today advisor to the Saudis for the assignment of the Italian Super Cup, but also commercial director of Fifa, the body that assigns the World Cup.
Anyone who thought that the interest of the oil princes was destined to wane after the World Cup in Qatar had to think again. The huge investment made by the gas safe has yet to bear the juiciest fruits. In fact, if we were to add up the total costs, taking into account not only the costs of building new stadiums and renovating existing ones, but also all the money spent on infrastructure, the World Cup this year in Qatar it was by far the most expensive ever, at around $220 billion, compared to $11.6 billion in Russia or $15 billion in Brazil. A river of money, in short. But it was worth it. The Gulf countries, in search of investments capable of guaranteeing a future for the area even after the end of fossil energy (still far away) have decided to focus on sports entertainment, repeating their climb to the top of air traffic who made of Emirates e Qatar Airways two top companies in the routes between Europe and Asia.
This time the competition is even more difficult. Even the greats of American sports are ready to compete for football leadership, the most popular sport that boasts great growth margins in the Americas and above all in Asia, as demonstrated by the World Cup. A trend that Andrea Agnelli certainly does not underestimate. “Many M&A deals have been concluded in recent years. Chelsea was sold for 3 billion, Milan for 1 billion, 47% Atalanta changed hands ”, he recalled. “It makes you think who the buyers of these companies are: sovereign wealth funds, consortia, private funds. In Serie A we have received offers for the transfer of a percentage of the League. In Serie A after CVC's own approach we received two more letters of intent earlier this year and the Bundesliga is considering the transfer of the international media part.
In short, the world of football runs. It's unlikely that Andrea will stay on the bench for long.
