Cristiano Ronaldo a Goal Machine and Money-making Machine for Ambitious Juventus

Agencies
November 7, 2018

Nov 7: Cristiano Ronaldo's reputation has been tarnished by allegations of rape, but Juventus still believe he will help the Italian giants to reduce the financial gap between them and the world's very biggest clubs.

Juventus take on Manchester United -- the world's richest club and where Ronaldo became a star -- in Turin on Wednesday knowing a draw will seal their place in the last 16 of the Champions League.

They are counting on 'CR7' as they look to win the Champions League for the first time since 1996 -- they have lost five finals since then, including in 2015 and 2017. Ronaldo, now 33, has won the trophy five times himself.

"Financially it has been a very rational move," financial expert Carlo Alberto Carnevale Maffe news agency. "The lifetime value of a player extends longer than his biological age.

"On the pitch he's one of the best. Ronaldo also makes the news, he gives visibility, conversation, discussion...raises your intangible value."

The news recently has been as much about the rape allegations in the United States, which Ronaldo himself has strongly denied, insisting he is "an example, 100 percent on and off the pitch".

But Juve president Andrea Agnelli -- who has orchestrated their domination in Italy since taking over the family-owned club in 2010 -- believes "the Ronaldo effect" can propel the "Old Lady of Turin" into another stratosphere.

"We are fully convinced that Ronaldo is an added value in every respect, in terms of business, and will facilitate our global expansion," said Agnelli, who wants to target the US, Chinese and Southeast Asian markets.

According to the Deloitte Football Money League, Juventus are tenth in Europe with annual revenues of 405.7 million euros ($463 million) in 2017, with only three Italian clubs featuring in the top 20.

Manchester United top the list on 676.3 million euros ahead of Real Madrid (674.6m) and Barcelona (648.3m).

On the pitch, Ronaldo has made an impact, scoring seven goals in the champions' best-ever start to a Serie A season. They are on track for an eighth consecutive league title.

Carnevale Maffe believes that Juventus can only gain despite the high price of a deal estimated to cost 340 million euros in total over four years, on top of the 110 million-euro transfer fee.

"When you are so close to success, all the planning, all the strategy may not be enough...the touch of genius is needed, and Ronaldo has that," added Carnevale Maffe, who lectures in Corporate Strategy at Milan's Bocconi School of Management.

'Robust'

Since Ronaldo-fever gripped Juventus, the club's share price jumped from 0.69 euros on July 3, to 1.672 euros on September 19.

But it then dropped 34 percent, starting to slide after his red card in the Champions League against Valencia, followed by the emergence of rape allegations in the United States.

While Ronaldo has denied the claims, two of his sponsors, Nike and EA Sports, said they were "closely monitoring" what Nike called "disturbing allegations".

"There is always an element of random events, unpredictable elements," said Carnevale Maffe.

"Players are physically fragile but business-wise Ronaldo is one of the most robust assets."

The real hope is that Ronaldo will not only help Juventus win the Champions League but attract lucrative commercial deals that will make the Italian club number one in the world.

The father of four has over 323.4 million followers across all social media platforms and is now the most followed person on Instagram with 145 million.

Since his arrival the club's following on social media has increased from 49 million to 62 million.

They say they are already on track for record Ronaldo kit sales for the season, with the black and white shirts costing up to 150 euros each.

Juventus also increased the price of season tickets by 30 percent while talks with Ronaldo were still secret, with all 29,300 sold.

Their 41,507-seat stadium is not as big as other leading European clubs so finding extra revenue not generated from ticket sales is all the more important.

But audit group KPMG have estimated the "Ronaldo effect" will see Juve's revenue jump to 500 million euros in the next two to three seasons.

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News Network
May 8,2020

New Delhi, May 8: India skipper Virat Kohli believes cricket in empty stadiums is a real possibility in post COVID-19 world and though it is unlikely to have a bearing on the intensity of players, he feels the magic would certainly go missing.

Cricket Boards across the globe are exploring the option of resuming the sport in empty stadiums. There is speculation that fans could be kept away from stadiums in a bid to salvage the T20 World Cup in Australia, which is currently under threat due to the global health crisis.

"It's quite a possible situation, it might happen, I honestly don't know how everyone is going to take that because we all are used to playing in front of so many passionate fans," Kohli said in Star Sports' show 'Cricket Connected'.

"I know it will be played at a very good intensity but that feeling of the crowd connecting with the players and the tension of the game where everyone goes through it in the stadium, those emotions are very difficult to recreate," he added.

Kohli said the many moments which are created because of the passion brought in by fans, would be missing.

"Things will still go on, but I doubt that one will feel that magic happening inside because of the atmosphere that was created.

"We will play sports how it is supposed to be played, but those magical moments will be difficult to come by," he said.

Cricketers such as Ben Stokes, Jason Roy, Jos Buttler and Pat Cummins have backed the idea of playing behind closed doors.

However, legendary Australian Allan Border has said it would defy belief to host a World Cup without spectators.

Another Australian all-rounder Glenn Maxwell and some other cricketers have also expressed similar sentiments.

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Agencies
March 13,2020

New Delhi, Mar 13: The remaining ODI series between India and South Africa has been called-off amidst the rising concerns over the coronavirus pandemic.

"The second and third ODI between India and South Africa in Lucknow and Kolkata respectively are called off," the BCCI source told media persons.

The first match of the series was abandoned due to rain and wet outfield without a toss at Himachal Pradesh Cricket Association (HPCA) stadium on Thursday.

The second and third ODI was scheduled to be played at Lucknow and Kolkata on March 15 and 18 respectively. Earlier on Thursday, the BCCI has decided to play the remaining two ODIs behind closed doors.

"After holding discussions with the MYAS and MOHFW, the BCCI on Thursday announced that the remaining two One-day Internationals (ODIs) of the three-match series of South Africa tour of India, 2020, will be played without any public gathering, including spectators," the BCCI had said in a statement.

The Union Health and Family Welfare Ministry has advised all the federations to avoid large gatherings.

World Health Organisation (WHO) on Wednesday had declared the coronavirus outbreak a 'pandemic' and expressed deep concerns.

The coronavirus disease was first detected in Wuhan in China's Hubei province, in late December, and has since spread worldwide.

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News Network
May 30,2020

St John's, May 30: The Cricket West Indies (CWI) on Saturday announced a temporary 50 per cent reduction in salaries and cricket funding across the entire regional cricket system, effective from the start of July due to the ongoing coronavirus pandemic which resulted in the suspension of all the cricketing activities across the globe since March.

"This decision has been necessary in the face of debilitating economic challenges which have resulted from the impact of the COVID-19 pandemic. With no international cricket currently being played anywhere in the world, and with great uncertainty of when regular cricket activity will resume, CWI - like many other international sporting organisations worldwide - is facing a significant loss of income, whilst also being uncertain of the long-term impact of the crisis on our operations," the CWI said in a statement.

During Thursday's teleconference, CWI's Board of Directors received recommendations from the Financial Strategy Advisory Committee (FSAC). The FSAC was formed in April by CWI president Ricky Skerritt, to make recommendations on how CWI could best manage its resources in order to continue its core business over the next few months in view of the changing and uncertain economic environment created by the global pandemic COVID-19. These recommended measures followed close consultation with all stakeholders.

"Cricket is the beating heart of our region for many individuals, communities, and economies. This pandemic is hurting every West Indian and this decision to cut staff and player incomes has been a very difficult one to make; one that will impact so many members of the cricketing family around the Caribbean," Skerritt said.

"This business continuity plan, unfortunately, requires all stakeholders to make a huge sacrifice, but I am confident that it won't be long before CWI will be in a position to ensure that the sport we love can restart and be enjoyed once again by the thousands of cricket fans across the region and diaspora," he added.

CWI has kept staff, players, umpires and coaches on full-pay since the outbreak of COVID-19 and have tried our best to avoid any cuts for as long as possible. CWI hopes that these temporary measures will only be in place for not more than three to six months. These measures will also include a 50 per cent reduction in funding for Territorial Boards, Territorial Board Franchises and WIPA, as well as a 50 per cent cut in all retainers and allowances for Directors and Executive management.

Earlier in the day, CWI gave its approval for a 'bio-secure' Test tour to England.

West Indies were first slated to play three Tests against England in June, but the original starting date of the series was pushed due to the coronavirus pandemic. The England and Wales Cricket Board (ECB) is looking to go ahead with the series against West Indies in July and then the Three Lions will play three Tests against Pakistan.

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