Big loss for English economy by fail to qualify for Euro 2008

Because England doesn’t succeed to qualify for the Euro 2008 football tournament, the English businesses could miss out 2 billion pound experts said.

Especially sport stores, bookmakers and pub groups are the big losers to feel the financial chill after the defeat by Croatia.

When England participate in a major summer tournament such as the World Cup or the European Championships the economic boosts with 650 million pound according to analysts.

A sport consultant predicted that the total sales of replica shirts could be 100 million pound lower next year.

Bookmakers said that the absence from Euro 2008 would cost at least 250 million pound. They said that a major football tournament without England will be like Christmas without turkey. There simply won’t be the interest levels.

The profit of Umbro, the England Football team’s official kit maker, is expected 15 million pound less. Because they need to give discounts to the England shirts. Last year Umbro sold 4 million shirts, but the poor performances of England under the lead of Steve Mclaren meant that only 1 million shirts have been sold by September.

Profit at Sports Direct, a retailer, is contracted to buy 65% of all England shirts made by Umbro, but has struggled to sell them. They will loose 10 million pound as a results of England’s nonqualification.

TV advertisements revenues could fall by 10 million pound because of the likely lower audience.

source

(Tom Van thienen)