Novemeber 11 - Office work ( 6 hours)

This day, I had the chance to focus on the sport before the pandemic and after it, analyzing the aspects that make sport a good investment, but also a risky one (ssometimes). Professional sport was already considered a safe investment before the pandemic started. It is in fact a "sector" that has over a century of history and that has never stopped growing on a global scale since its inception. The companies, i.e. the clubs, have an extremely loyal consumer base, more than any other brand on the market. Over the years, individual businesses have also become more economically solid and reliable, just think of the Italian Serie A. Ten years ago the owners of the twenty teams in the championship were all Italian: often families and just as often fickle and unpredictable in the management of their businesses. Today, 35 per cent of clubs are foreign-owned, and the share looks set to rise further. The stringent financial rules introduced by UEFA - the so-called Financial Fair Play - have served to reduce debts and to make European football more economically stable, which has therefore become more attractive. However, what continues to drive its growth, as well as investments, are merchandising (in the case of the best-known teams) and television rights. Between 2007 and 2010, the overseas broadcasting rights to the English Premier League, the most famous football league in the world, were sold for £650m; ten years later, those valid for the three-year period 2016-19 yielded £3 billion. However, sport also presents risks, mainly constituted by its exposure in times of crisis. Indeed, it has been ascertained that the demand for sporting entertainment depends on the economic climate of the place in which it is located: in economic difficulties, fans and enthusiasts first of all tend to cut the costs incurred for everything related to sport.