Global Economic Outlook (G.E.O)
The ‘Gold Mine’ that is the UEFA Champions League. Vol. 91. May 30, 2022.
Dear readers, welcome to another edition of the Global Economic Outlook (G.E.O) - our weekly newsletter providing insights on the local and global economy. Today, we will be discussing the windfall that comes from the UEFA Champions League.
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The ‘Gold Mine’ that is the UEFA Champions League
The UEFA Champions league is not just prestigious in reputation, it is lucrative in prize money as well. Little wonder many clubs fight tooth and nail to be a part of the competition. Forbes ranks Real Madrid as the most valuable football brand in the world in 2022 with an estimated worth of $5.1 billion and that should be no surprise given their success in Europe’s premier club competition.
Real Madrid extended their record in the prestigious UEFA Champions League on Saturday when they beat Liverpool by a lone goal to secure their 14th title. Despite not being at their best for the better part of the match, Real Madrid still found a way to win. No other club comes close when it comes to the number of titles in the competition as Italian giants, AC Milan, which is ranked second only has 7 titles.
According to The Sporting News, every club that qualified for the group stage of the recently concluded UEFA Champions League pocketed $17.74 million with an incremental prize money for wins and draws in the group stage as well as progress in the competition. For instance, Real Madrid who eventually emerged as winners would pocket about $94 million in prize money which excludes matchday and broadcast income. The below shows the prize money for each stage of the competition.
· Qualification for the Group Stage - $17.74 million
· Group Stage Draws - $1.05 million
· Group Stage Wins - $3.17 million
· Round of 16 - $10.89 million
· Quarterfinalists - $12.02 million
· Semifinalists - $14.18 million
· Runner Up - $17.59 million
· Winner - $22.69 million
You can easily compute the total prize money received by your club from the above breakdown if you are a football fan. You can also easily see the windfall your club is missing out on when they do not qualify for the Champions League.
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The Central Bank of Nigeria (CBN) has raised the interest rate for the first time in six years. Watch this video to learn what the effects might be on individuals and businesses.
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