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Roma on the verge of signing new deal with New Balance after premature termination with Nike

After terminating its contract with Nike, A.S. Roma is on the verge of signing a kit deal with New Balance.

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In July 16, 2020, top-flight Italian football club, Associazione Sportiva Roma, commonly known as A. S. Roma or Roma prematurely terminated their 10-year deal with American sportswear corporation, Nike. The multi-year deal was signed in 2013 but their commercial partnership came to an end upon the completion of the 2019/20 season.

AS Roma Chief Operating Officer Francesco Calvo said the following in a statement from the club, “The early termination of the commercial agreement will allow AS Roma to explore new opportunities in the equipment and licensing space,”.
The original multi-year deal included a basic fee of €4m per season, which rose to €4.1m from 2019-20 and would have continued to €4.2m from 2020-21 until its conclusion. According to multiple reports, the agreement, including bonuses and signing fees, was estimated to be valued at €5 million a year which is way less compared to the eight-figure sums brought in by their rivals like Juventus, Napoli, Inter Milan, etc.
According to multiple reports, both Roma Chief Executives, Guido Fienga and Calvo were unhappy with the Nike deal and considered other options.
Although Nike won’t provide kits for the club for the 2020/21 season, however, they will be in charge of other things like training products and the likes for only the 2020/21 season. Roma in a statement said, “For the 2020-21 season, Roma and Nike have entered into a new agreement which will see Nike provide the club with all on-pitch, training and casual products for the first team, youth teams and women’s teams”.
After their premature termination with Nike, A. S. Roma are on the verge of signing a new four year deal with US Sportswear brand, New Balance. After they failed to agree a kit extension with Premier League champions Liverpool, they now appear to have moved to the front of the queue.
According to La Stamps journalist, Matteo De Santis, “As Roma are in more advanced talks with New Balance as new technical sponsor, draft agreement for four years. Final approval and green light of Friedkin.” However, financial details are yet to be released.
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The deal is awaiting the final approval from new Roma majority owner, Dan Friedkin, whose US consortium finalised a €591 million (US$697 million) takeover of the club in August.
Stay tuned for more about the possible New Balance-AS Roma deal in the coming weeks.

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Sports

UEFA to cut prize money for next 5 seasons due to financial impact of COVID-19

UEFA has decided to cut prize money for the Champions League and Europa League competitions due to the financial impact of the COVID-19 pandemic.

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UEFA to cut prize money for next 5 seasons due to financial impact of COVID-19

The Union of European Football Association (UEFA), lost £514million from the Champions League and Europa League last season due to the COVID-19 pandemic.

This led to reduced TV and sponsorship income, and as a result, it plans to cut prize money for club competitions – Champions League and Europa League, over the next five years (seasons) to offset the incurred losses.

READ: Football: AC Milan announces loss of €195million

According to The Times, UEFA wrote to its 55 member associations revealing the amount lost (£514million) due to the financial impact of the pandemic and its plans to cut the prize money for its two competitions.

By spreading the costs out to offset losses, competing clubs in the two UEFA club competitions (Champions League and Europa League) can expect a roughly 4-per-cent drop in Uefa prize money in each of the next five seasons.

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READ: Manchester United: A football club or a business

The 2019-20 Champions League and Europa League were on hold for five months (mid-March to August) when the pandemic wreaked havoc on the global sporting calendar, with the UEFA opting to schedule matches from the quarter-finals which were played as single-match knockout ties at neutral venues in Lisbon, Portugal (Estádio da Luz and Estádio José Alvalade).

DAZN, an English streaming platform terminated its rights deal for the UEFA club competitions (Champions League and Europa League) in particular places like South East Asia and Japan, the streaming platform cited the delay and the reduced number of matches (one-legged tie) as a reason for the termination.

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READ: Ajax FC’s shares fall by 21% after Champions League defeat

Telco Altice, a French multinational telecommunications corporation, which holds exclusive rights for the Champions League and Europa League in France, has publicly demanded its money back, due to the delay and reduction in matches played. Telco Atlice pays €350million per season for its rights to the two UEFA club competitions for the 2018-21 cycle.

READ: Messi emerges highest paid Sportsman on earth; here is how

Also, UEFA recently announced that financial services company – Mastercard, has renewed its Champions League sponsorship contract to continue through the 2021-24 cycle extending its 26-year partnership, dating back to 1994. The agreement also includes sponsorship rights for the UEFA Super Cup competition in 2021, 2022, and 2023.

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Football: Manchester United net debt rises by 133% to £474.1million

Manchester United recently announced its revenue for the fiscal year of 2019/20 ending in June 2020.

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Football: Manchester United net debt rises by 133% to £474.1million

English top-flight club, Manchester United, recently announced its revenue for the fiscal year of 2019/20 ending in June 2020. The club’s net debt increased by 133% to £474.1million from £270.5million. However, due to the economic uncertainty caused by the pandemic amidst fears of a second wave of COVID-19, the club has refused to issue revenue guidance for the 2020/21 financial year.

READ: Football: Lyon lost €36.5 million in the 2019/20 financial year

READ: Barcelona overtakes Real Madrid on biggest earners’ list 

READ: EPL clubs to be fined £37 million each over suspension of matches

This is according to KPMG Football Benchmark Club Finance and Operations Tool and club’s press release.

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READ: Football: AC Milan announces loss of €195million

What you should know

  • Manchester United’s net debt has increased in the fiscal year of 2019/20 to £474.1million, an increase of 133% compared to £270.5million in the previous year.
  • The club posted a cumulative revenue of £509million for the 2019/20 fiscal year which ended in June 2020 and also represents a nosedive of 18.8% compared to revenue of £627.1million in the 2018/19 fiscal year. This is also the lowest figure the club has recorded since the 2014/15 fiscal year.
  • Broadcasting revenue decreased from £241.2million to £140.2million, a drop of 42%. This was primarily attributed to an estimated £15.0m Premier League rebate due to broadcasters, broadcast schedule changes to the 2019/20 football season, non-participation in the UEFA Champions League, and the impact of playing two fewer Premier League away games.
  • Due to the impact of postponement of the Round of 16 Europa League home match and closure of non-match day operations in mid-March which saw Old Trafford shut down, matchday revenue decreased to £89.8million, a drop of 19%.
  • However, despite the losses, United’s commercial revenues remained resilient, posting an increase of 1.4% to £279m in the previous year.

READ: Roma on the verge of signing new deal with New Balance after premature termination with Nike

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READ: Chelsea FC posts N46.42 billion loss in 2019

READ: U.S. budget suffers a deficit of $3.1 trillion in 2020, as pandemic slams the economy

Manchester United’s Executive Vice-Chairman Ed Woodward said, “Our focus remains on protecting the health of our colleagues, fans, and community while adapting to the significant economic ramifications of the pandemic.

“Within that context, our top priority is to get fans back into the stadium safely and as soon as possible.”

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Coronavirus

Cristiano Ronaldo tests positive for COVID-19

Portuguese football star, Critiano Ronaldo has contracted the novel coronavirus.

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Cristiano Ronaldo tests positive for COVID-19

Portuguese and Juventus Star, Cristiano Ronaldo has tested positive for Covid-19 and he has left the Portugal squad for isolation.

After arriving in Portugal for the Internationals break, he featured in two matches against Spain and France. His last match was on Sunday against France and was in contention to play against Sweden tomorrow.
The announcement  was made by the Portuguese Federation, and he has left the squad to self-isolate.
More details shortly…
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