Business News
Barcelona overtakes Real Madrid on biggest earners’ list
Real Madrid have lost its position to Spanish League rival, Barcelona, on the list of the highest-earning football clubs in the world.
Real Madrid have lost its position in the highest-earning football clubs in the world to its Spanish League rival, Barcelona. This is the first time the latter would break the €800m revenue barrier and top the list, which is dominated by English clubs.
The 20 clubs that made the Deloitte Football Money League grossed a combined income of €9.3 billion (£8 billion) for the 2018-2019 season. This figure is an increase of 11% when compared to the previous year, 2018, which was €8.3 billion.
In the next few years, these clubs are expected to have a combined revenue that breaks the €10 billion revenue barrier. This projection is supported by the increasing interest in football.
The revenue was sourced from Commercial, Matchday and Broadcast rights to their matches. According to Deloitte, Broadcast rights accounted for 44% of the total revenue of the €9.3 billion, commercial accounted for 40% and Matchday grossed 16%.
How the clubs stand: The list was largely dominated by Premiership clubs. Containing the 20 biggest money-spinning clubs list are:
- Two Ligue-1 clubs;
- Three Spanish clubs;
- Three German clubs;
- Four Seria-A clubs; and
- Eight Premiership clubs.
Clubs with highest revenue
- Barcelona top the 23rd money league with €841 million. This revenue generation by Barcelona makes the Catalan the first club to break the €800 million barrier. Barcelona was able to beat Real Madrid and Manchester United after taking advantage of its global brand to attract merchandising and licensing activities in-house.
- Real Madrid was second on the list with €757.3 million, still unable to surpass the €800 million barrier. Real Madrid’s drop could be attributed to the selling of Cristiano Ronaldo who left the Los Blancos to join Juventus. C. Ronaldo’s transfer contributed to Juventus’ revenue growth.
- Manchester United took the third spot with €711.5 million revenue. But its position is threatened by Manchester City and Liverpool which have enjoyed Champions League outings in recent years while Manchester United has been struggling to gain qualification to UCL. This is a contributing factor to its drop, and united has already reported that its revenue will drop by £85m next year.
- Bayern Munich maintained its fourth position with €660.1 million.
- Paris Saint-Germain overtook Manchester City with €635.9 million.
[READ MORE: Here are the ten highest-paid athletes of the decade; one earned $915 million)
- Manchester City generated €610.6 million.
- Liverpool, which has had much success in the UCL and currently the defending champion of the UCL, recorded €604.7 million.
- Tottenham Hotspur improved on the list by moving up two places. The EPL club recorded €521.11 million. The revenue was aided by its change of Stadium which resulted in increased seating capacity. Tottenham’s matchday revenue is projected to surpass €117 million (£100 million) for the first time next year due to its new 62,062 stadium.
- Chelsea dropped one spot after generating €513.1 million. Chelsea’s failure to make UCL could also have had an impact on its earnings even though the club won the Europa League.
- Juventus, however, had a revenue booster in C. Ronaldo, which resulted in the €459.7 million generated for the period under reveal. Juventus stepped up a spot on the list.
- Arsenal dropped two spots like Chelsea after grossing €445.6 million for the 2018/2019 season. The club has also been struggling to regain the UCL slot. This also affected their revenue.
- Borussia Dortmund neither dropped nor moved upward after generating €377.1 revenue.
- Atlético de Madrid also maintained this position with €367.6 million.
- FC Internazionale Milano (Inter Millan) was unmoved on the list after grossing €364.6 million.
- Schalke 04 moved a spot upward as the club recorded €324.8 million for the 2018/2019 season.
- AS Roma dropped a spot on the list after generating €231.0 million.
- Olympique Lyonnais was a different story, entering the top-20 list of money-spinning clubs for the first time after grossing €220.8 million.
- West Ham United climbed two spots on the money league table after grossing €216.4 million.
- Everton, another EPL club, dropped two spots to hit this position having recorded €213 million.
- SSC Napoli, another newcomer, entered the list with €207.4 million.
Coronavirus
COVID-19 Update in Nigeria
On the 21st of October 2020, 37 new confirmed cases were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 61,667 confirmed cases.
On the 21st of October 2020, 37 new confirmed cases were recorded in Nigeria, having carried out a total daily test of 4,648 samples across the country.
To date, 61,667 cases have been confirmed, 56,880 cases have been discharged and 1,125 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 595,283 tests have been carried out as of October 21st, 2020 compared to 590,635 tests a day earlier.
COVID-19 Case Updates- 21st October 2020,
- Total Number of Cases – 61,667
- Total Number Discharged – 56,880
- Total Deaths – 1,1125
- Total Tests Carried out – 595,283
According to the NCDC, the 37 new cases were reported from 9 states – FCT (8), Lagos (7), Taraba (5), Rivers (5), Adamawa (4) Kaduna (3), Anambra (2), Osun (2), Ogun (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 20,733, followed by Abuja (5,943), Plateau (3,587), Oyo (3,421), Rivers (2,742), Edo (2,648), Kaduna (2,572), Ogun (1,987), Delta (1,812), Kano (1,741), Ondo (1,659), Enugu (1,314), Kwara (1,050), Ebonyi (1,049), Osun (918), Katsina (904), Abia (898), Gombe (883). Borno (745), and Bauchi (710).
Imo State has recorded 607 cases, Benue (484), Nasarawa (478), Bayelsa (403), Ekiti (329), Jigawa (325), Akwa Ibom (295), Anambra (277), Niger (274), Adamawa (248), Sokoto (162), Taraba (117), Kebbi (93), Cross River (87), Zamfara and Yobe (79), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous
Business News
BRT owners, Primero says they lost N100 million to #ENDSARS protest
Primero Transport Services (PTS) Ltd, the owners of BRT Busses have lost over N100 million in 6 days due to the #ENDSARS protest
Primero Transport Services (PTS) Ltd, the owners of BRT Busses have lost over N100 million in 6 days due to the #ENDSARS protest which has ravaged Nigeria’s economic capital of Lagos in the last 10 days.
According to a report from the News Agency of Nigeria, PTS Head, Corporate Communications, Mr. Mutiu Yekeen, said that the company made a lot of losses between Oct. 16 and Oct. 21.
“We are hoping something better will come out of the situation because, presently, the situation has impacted negatively on our business in terms of revenue generation. We have lost over N100 million in the last six days but we decided to stop operations to avoid damage to our vehicles and also for the safety of commuters as an organisation. We value our customers more importantly; that is why we stopped operation due to volatility of the state especially in Ikorodu. If you listen to the news this morning, you will discover that people cannot travel from Ikorodu to any part of Lagos,” Yekeen
Things got worse for BRT on Wednesday after suspected hoodlums burnt several buses at the Oyingbo/Iddo terminal in Lagos. According to NAN, a large number of new BRT buses yet to be deployed to routes but parked in the terminus situated behind the railway line in Oyingbo, have all been consumed by the raging fire.
Several government-owned buildings and assets were torched by protesters including across Lagos including Police Stations. The suspected hoodlums also set ablaze buildings belonging to private businesses while several shopping malls were looted.
What this means: Following the curfew imposed across the state and the subsequent arson of the company’s buses and terminals, it is unlikely that they will return to business anytime soon. The losses will likely continue and could lead to a request for a bailout if the company is to sustain operations.
ENDSARS
#EndSARS: Ghanaian President says Buhari is committed to police reform
Ghanaian President has called for calm as he continues to speak to President Buhari on measures to resolve the crisis.
The President of Ghana, Nana Akufo-Addo, said President Muhammadu Buhari has begun the processes that will lead to police reforms, as he calls for calm and dialogue to resolve the issues surrounding reported cases of chaos related to the #EndSARS protests.
Akufo-Addo disclosed this in a statement on Wednesday evening, which comes a day after peaceful protesters are were allegedly shot at by the Nigerian military at the Lekki toll gate holdout.
I join all well-meaning persons in calling for calm, and the use of dialogue in resolving the #EndSARS impasse in Nigeria. I have spoken with President Buhari, who is committed to this end, and has begun the processes that will lead to reform. 1/2
— Nana Akufo-Addo (@NAkufoAddo) October 21, 2020
“I join all well-meaning persons in calling for calm and the use of dialogue in resolving the #EndSARS impasse in Nigeria.
“I have spoken with President Buhari, who is committed to this end, and has begun the processes that will lead to reform,” Nana Akufo – Addo said.
He added that the use of violence by security agents is not a solution and expresses his condolences.
“Violence, be it on the part of the police or protesters, cannot be the solution. To the families who have lost their loved ones, I express my sincere condolences, and I wish the injured a speedy recovery,” he added.
Akufo-Addo joins other global leaders like former US Presidential candidate, Hillary Clinton, who has called on President Muhammadu Buhari’s administration and the Nigerian Army to stop the killing of young protesters in the country.
COVID-19 Update in Nigeria
BRT owners, Primero says they lost N100 million to #ENDSARS protest
#EndSARS: Ghanaian President says Buhari is committed to police reform
#EndSARS: Curfew, widespread looting trigger losses for Nigerian Stocks
#EndSARS: Timeline of events as they unfold
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦460/$1
WTO DG: US, EU divided over Nigeria’s Okonjo-Iweala and South Korea’s Yoo
#EndSARS: Nigerian Army denies soldiers shot at Lekki protesters
Update: #EndSARS: Gov. Sanwo-Olu confirms death of an injured victim of Lekki Toll Plaza shootings
