Polish football clubs are not highly profitable

APA - Austria Presse Agentur
opublikowano: 22-07-2005, 14:47

Warsaw (Puls Biznesu) – Six first-league football clubs are owned by listed companies. According to the latter financial reports, one may earn investing in sports. InterGroclin, the owner of Dyskobolia, earned over PLN 13m (EUR 3.2m). Only the Warsaw Legia had losses last year. Usually, clubs have sales of PLN 10-30m. The majority of their income is generated by hotels.

Warsaw (Puls Biznesu) – Six first-league football clubs are owned by listed companies. According to the latter financial reports, one may earn investing in sports. InterGroclin, the owner of Dyskobolia, earned over PLN 13m (EUR 3.2m). Only the Warsaw Legia had losses last year. Usually, clubs have sales of PLN 10-30m. The majority of their income is generated by hotels. “I would not believe those results as vast majority of their sales are operations inside capital groups”, an anonymous investment advisor commented.

An analyst specialising in Polish blue chips considers their engagement in football marginal and does not care about it in his ratings. The only exception is Inter Groclin. Income from the sale of Andrzej Niedzielan (PLN 3.7m) constituted nearly 10 percent of the groups result last year. This year, similar results were achieved thanks to selling some other players. It is similarly in Amica Wronki. Last year, the company took part in international coups. Sales from advertisements, transmissions and bonuses from the European federation helped generate PLN 2m of net income.

Compared to Czech Sparta Prague this is not much. “In recent years, only for taking part in Champions’ League we got over CZK 1 billion (PLN 137m). The cash injection causes that who once enters the elite, will stay there for longer”, Premysl Benes, Sparta CFO said. Polish Wisla Krakow would like to follow suit. It owes its owner Tele-Fonika PLN 80m. If this year they finally manage to play important matches, even if lose all group ones, they will get PLN 15m from UEFA. Plus additional sales from ads and TV transmissions and the possibility of raising the value of its players and the club itself.

“The Polish football must go through similar changes as the whole economy. We have already had investments in clubs which were to be profitable quickly. Now, serious investors are interested in the clubs. They plan long-term investments”, Wojciech Szymon Kowalski, an independent analyst of football branch commented. ITI, the media group, paid USD 1.5m (EUR 1.2m) to buy Legia. Jan Wejchert, the founder of ITI, hopes that Legia will come to the black within two-three years at the earliest.

Polish first-league clubs will get PLN 160m for TV transmissions within three years. PLN 32m will be paid by Idea, the sponsor of Polish first league. This means less than PLN 4m each year. Last year, Groclin Dyskobolia owned by Groclin had PLN 13.25m of net income, Amica Wronki sponsored by Amica PLN 2.03, Cracovia owned by Comarch PLN 0.55, Wisla Plock whose investor is PKN Orlen PLN 1.21m, and Zaglebie Lubin sponsored by KGHM PLN 2.09m. Legia Warszawa whose owner is ITI had PLN 9.87m of loss.

(PLN 1 = EUR 0.243)

(USD 1 = EUR 0.821)Poland/Enterprises/Football clubs


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