Browsed by
Tag: reckoning

Serie A Faces Financial Reckoning As Coronavirus Pushes Transfer Market Spending Back To 2016 Level

Serie A Faces Financial Reckoning As Coronavirus Pushes Transfer Market Spending Back To 2016 Level

The transfer market summer window that closed on October 5 will be a remarkable one for Serie A – Italy’s top-flight soccer league.

For the first time since the SARS-COV-2 outbreak that paralyzed European soccer for over three months, Italy’s most beloved sport was finally able to assess the financial damage brought by the Coronavirus pandemic.

And despite Serie A welcomed stars of the like of former Barcelona midfielder Arthur Melo, SSC Napoli striker Victor Osimhen and former Manchester United Chris Smalling – the financial reality beneath the surface is quite scary.

And unfortunately, Italian soccer is not alone in this crisis.

The general spending on transfer fees in European soccer decreased significantly for the first time in three years, falling back to the 2016 level, a study released by FIFA has found.

The Transfer Market Snapshot June-October 2020 analyzed the latest player transfer market activity, giving an overview of the impact of the COVID-19 pandemic on soccer finance.

The study shows that in 2020, soccer clubs accounted for a total of $3,92 billion in outgoing transfer fees, representing a steep drop of more than 30% in comparison to 2019, when clubs spent a total of $5,8 billion.

To find a similar figure we need to look back to 2016 when the money spent on international summer transfers reached $3,7 billion, while for the same period in 2017, 2018 and 2019 clubs invested over $5 billion each year.

The latest transfer window saw a total of $543,9 million squandered by

Read the rest
Boise State may be heading for COVID-19 financial reckoning

Boise State may be heading for COVID-19 financial reckoning

This story was originally published on IdahoEdNews.org on Oct. 8, 2020.

Boise State University’s $240 million annual budget really comes down to two big variables.

Students in classrooms.

And fans in grandstands.

If you’re not a professional number cruncher, just watch those two things.

Or take it from Mark Heil, who is actually a professional number cruncher. Since the coronavirus pandemic struck in March, forcing the state’s colleges and universities to close their campuses, Boise State’s chief financial officer has paid especially close attention to enrollment and athletics.

Idaho’s largest university faces a financial reckoning that couldn’t have been imagined a year ago. After a round of furloughs in the spring, additional furloughs, job losses and operational cuts are on the table. That’s because the sure things — robust enrollment growth and a packed football stadium — just aren’t sure things anymore.

Boise State enrollment

There’s nothing unique about Boise State’s enrollment angst. Many colleges and universities — large and small, public and private — have spent the last several months bracing for what the pandemic could do to fall enrollment. Predictions of a catastrophic loss, in the 15 to 20 percent range, became commonplace.

That doomsday scenario doesn’t appear to be unfolding anywhere in Idaho’s higher education system. And while the official numbers won’t come out until later in October, Boise State President Marlene Tromp and Heil have said a slight enrollment increase is possible.

Slightly higher would be a big win, especially when it’s weighed against the expectations. And there’s really no way to overstate the added importance of enrollment at Boise State.

For years, Boise State has grown in stride with the Treasure Valley. In October 2019, fall enrollment exceeded 26,000, marking a 19 percent increase over just five years. A sharp enrollment decrease would force the

Read the rest