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Markets cheer European Super League amid outrage at "closed shop"

Bloomberg4/20/2021 11:48 AM GMT+08  • 3 min read
Markets cheer European Super League amid outrage at "closed shop"
While seen as an anti-competitive move by Europe's biggest clubs, markets anticipate profits from the European Super League.
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Shares of Juventus Football Club S.p.A. and Manchester United Plc climbed after the two clubs joined controversial new plans for a European “super league” that could transform revenue streams at the top level of the sport.

Juventus’s stock rose as much as 19% to 91.70 euro cents in Milan, the most in more than a year, while United gained 9.8% to $17.75 in early trading in New York, the most in more than five months.

The new competition could attract more valuable broadcasting rights than the 2 billion euros ($3.2 billion) of television revenue earned by Europe’s current most-prestigious tournament, the UEFA Champions League, according to Alberto Francese, head of corporate broking research at Intesa Sanpaolo. Sales from ticketing, sponsorships and merchandising would benefit too, given the likely quality of matches and audience of the clubs, Francese said in emailed comments as he put his “add” rating on Juventus’s shares under review.

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