DeloitteFootballMoneyLeague2005.pdf
(
1459 KB
)
Pobierz
February 2005
Football Money
League
The clliimbberrs and
the slliiderrs
Edited by
Dan Jones
Authors
Robert Elstone, Austin Houlihan,
Rich Parkes and Mark Roberts
Sports Business Group at Deloitte
201 Deansgate, Manchester, M60 2AT
Telephone: +44 (0)161 455 8787
Fax: +44 (0)161 455 6013
Email: sportsteamuk@deloitte.co.uk
www.sportsconsulting.co.uk
February 2005
Football Money League
Contents
Introduction
4
by Dan Jones
The Deloitte Football Money League
6
Grounds for improvement
20
by Mark Roberts
UEFA Champions League – the icing or the cake?
22
by Rich Parkes
It’s all about partnership
24
by Robert Elstone
3
Football Money League
Introduction
By Dan Jones, Partner, Sports Business Group at Deloitte.
Welcome to this, the eighth year of the Deloitte Football Money
League, which profiles the largest clubs in the world’s most popular
sport. There are a number of different methods of defining a large
club – in terms of fanbase, attendances, TV audiences, or success on
the pitch. However, for the purposes of this publication, we look at
the best publicly available measure of ‘financial muscle’: income from
day to day football business operations. We don’t consider a club’s
budget for outgoings or what someone might pay to buy a club.
Chart 1 shows the revenues of the 20 Money League clubs, and
clearly there are some mini leagues within the overall 20 clubs
themselves. The top five clubs are some distance ahead of a chasing
pack of four clubs, who in turn are well ahead of the next two clubs,
with the remaining nine clubs being relatively close to each other. It
is notable, however, that the revenue of the fifth club – Juventus – is
more than double that of the thirteenth club – Celtic. This illustrates
how difficult it is for a club to reach the upper echelons of the
league – and underlines Chelsea’s achievement in jumping six places
to reach fourth position compared to tenth last year.
This edition of the Money League covers the 2003/04 season and is
therefore the most contemporary and reliable analysis of this aspect
of clubs’ relative financial performance, being released less than nine
months after the end of last season, as soon as the relevant clubs’
accounts are available to us. Revenues have continued to grow since
our last edition, continuing a long term trend. In the first edition,
back in 1996/97, the 20 clubs’ combined income was
The primary source of growth for many clubs – over the past ten
years, particularly in Continental Europe – has been huge increases
in broadcasting revenue. Football is critical to the development of a
strong and sustainable subscriber base for Pay-TV broadcasters. Pay-
TV needs top level football as much as football needs Pay-TV’s
revenues, and therefore we expect broadcasting revenues for the
‘best properties’ to hold their values – especially when revenues for
overseas territories are considered. The recent French domestic
broadcast deal supports this and may, in a couple of years time,
cause a bigger French presence in the Money League.
€
1.2 billion –
this year’s top five clubs earned almost as much as that between
them and the top 20 clubs collectively generate almost
€
3 billion,
a compound growth rate of 14% per year.
Chart 1: Total revenues 2003/04
€
m
250
Clubs are not purely reliant on broadcasting revenue – and many
have moved to successfully develop their other primary revenue
streams. UK clubs, in particular, have developed their stadia into a
key source of income, with revenues from stadium operations on
matchday and non-matchday rising accordingly. Some of the more
progressive continental European clubs are taking steps to follow
the UK example – in addition to the recent investments in Germany
and Portugal we have seen some big projects elsewhere. Often an
outside push is needed to encourage clubs to invest in stadium
development and recoup the commercial rewards from it. In
England it was safety legislation, in Germany and Portugal it was the
prospect of a major international tournament. The stadium is a key
asset, but clubs need to plan carefully and work hard to ensure that
it delivers revenues from existing and potential customers
(particularly in the corporate hospitality market and on non-
matchdays) to enable them to secure the revenue growth which,
they hope, will see them move up the table in future Money
Leagues. Non-UK clubs, however, do need to address this now.
With Chelsea’s success and Arsenal’s Emirates Stadium development
we can foresee a scenario where English clubs fill the top three
places in the 2006/07 Money League.
225
200
175
150
125
100
75
50
Source: Deloitte analysis.
4
Football Money League
How we did it
“Many Money League clubs are
global brands. They spread
well beyond their national
borders but some may be
unsure as to how they might
best capture the value of their
international appeal.”
We have used, for each club, the figure for total income extracted
from the club’s annual financial statements, or other direct
sources, for the 2003/04 season. In some cases, the annual
financial statements do not cover a whole season, but are for the
calendar year, in which case we have used the figures for the most
recent calendar year available.
Income excludes transfer fees and VAT. In a few cases we have
made adjustments to total income figures to enable, in our view, a
more meaningful comparison of the football business on a club by
club basis. For instance, significant non-football activities or capital
transactions have been excluded from income.
As further increases in domestic market income become more and
more difficult to realise, international markets will become
increasingly important and may well be the next key differentiator
between clubs. Many Money League clubs are global brands. They
spread well beyond their national borders but some may be unsure
as to how they might best capture the value of their international
appeal. ‘Gaining a fan’ in another country is one thing; unlocking
value in a distant and – in all likelihood – less committed fan base is
not easy and is quite another thing. The key is to have a clear
strategy to capture information about the fan and then build loyalty,
through regular dialogue topped up by face-to-face exposure
(by way of tours, training camps or coaching schools), planned
strategically and over the long-term. These are not ‘quick wins’.
Based on the information made available to us in respect of each
club, to the extent possible, we have split income into three
categories – being income derived from matchday, broadcast and
commercial sources. Clubs are not wholly consistent with each
other in the way they classify income. In some cases we have
made reclassification adjustments to the disclosed figures to
enable, in our view, a more meaningful comparison of the
financial results.
Matchday income is largely derived from gate receipts (including
season tickets and memberships). Broadcast income includes
revenue from television and radio and from both domestic and
international competitions. Commercial income includes
sponsorship (mainly derived from brand/name placing on team
shirts and around stadia), conference, catering and
merchandising.
Considering how certain clubs lurch from territory to territory in their
pre-season activities, it is not always clear that clubs have thought
through their international market development plans as well as they
might. It is important that clubs pick the right territories, target the
right potential customers and then have the ability to access business
efficiently and profitably. Not a straightforward task.
Information about stadium capacity and attendances has been
obtained from publicly available sources.
We have not performed any verification work or audited any of
the information contained in the club financial statements for the
purpose of this publication.
Our focus this year
We provide some additional features this year, in addition to our
usual profiles of the top 20 clubs and their revenue sources. We
examine differences between the UK and European clubs in terms of
stadium income, and explore the prospects for future revenue
growth from commercial partnerships. Finally, we review the UEFA
Champions League and its importance to Money League clubs. We
don’t expect many new clubs in next year’s Money League – given
the success of the list of 2003/04 clubs in the 2004/05 Champions
League. Firstly, however, we look at the biggest 20 clubs in the
world’s most popular sport.
All figures for the 2003/04 season have been translated at 30
June 2004 exchange rates. Comparative figures have been
translated at exchange rates as at 30 June for the relevant year
e.g. 30 June 2003 for 2002/03 figures.
There are many ways of examining the relative wealth or value of
football clubs – and at Deloitte we have developed sophisticated
models of anticipated future cash flows to help potential investors
or sellers do just that. However, for an exercise such as this, there is
insufficient public information to do that. Here – in the Deloitte
Football Money League – we use income as the most easily
available and comparable measure of financial wealth. Income, like
salary for an individual, is not the be all and end all of ‘richness’,
but all would agree that – as a starting point – it is better to have
more than less, and the choice of how to spend it.
•
The Deloitte Football Money League was compiled by Dan Jones,
Rich Parkes and Austin Houlihan of the Sports Business Group. Our
thanks go to all those who have assisted us, inside and outside the
Deloitte international network. We hope you enjoy this edition.
•
Exchange rates:
£1 =
€
1.5104
(30 June 2004)
€
£1 =
1.4370
(30 June 2003)
Dan Jones
www.sportsconsulting.co.uk
5
Plik z chomika:
marketingsportowy
Inne pliki z tego folderu:
ekstraklasa-pilkarskiego-biznesu-2011.pdf
(6899 KB)
ekstraklasa-pilkarskiego-biznesu-2009.pdf
(8542 KB)
Ekstraklasa_2012_final.pdf
(4329 KB)
ekstraklasa-pilkarskiego-biznesu-2010.pdf
(5342 KB)
zarzadzanie marketingiem w organizacji sportowej.pdf
(1376 KB)
Inne foldery tego chomika:
Filmy marketing sportowy
Hokej na trawie - materiały z kursokonferencji
Oferty sponsorskie
Organizacja imprez sportowych
Raporty
Zgłoś jeśli
naruszono regulamin