To make the company bigger and stronger and ring the bell on the stock exchange has always been the goal of many entrepreneurs. In football, there are also some "listed companies"-listed football clubs. Like ordinary listed companies, these clubs are listed mainly to raise club operating funds. The earliest listed football club was Tottenham, but in 2011 they chose to delist. At present, there are 23 listed football clubs in Europe, the well-known ones are Manchester United, Juventus, Dortmund, etc., there are also relatively small groups such as Denmark's Ashos and Macedonia's Tetovo. The statistics of the countries belonging to the 23 clubs are as follows (Note: Most of Turkey's territory is in Asia, but the Turkish Football Association is affiliated with UEFA).
It can be seen that most of the listed football clubs are not from the five major leagues, which shows that small clubs have greater financial pressure. Among them, there is no listed football club in La Liga. In these 23 clubs, except Manchester United are listed in Europe. Manchester United withdrew from Europe on August 10, 2012 and landed in New York.
Under normal circumstances, the factors affecting the stock price fluctuations of football clubs are related to record, player status, and management. For example, in terms of record, generally the record of the previous day will cause the stock price to fluctuate the next day, usually winning up or down. A recent example, on the evening of March 9, local time, Manchester United played against Manchester City at Old Trafford, and won the Manchester City Derby 2:0, achieving a double play against Manchester City in the Premier League this season. The next day, March 10, the stock price rose.
At present, the outbreak of the epidemic in many European countries has suspended many football matches, including the five major leagues. As shown in the following table, among the 23 listed clubs, except for the Turkish League clubs, all other clubs have been affected by the epidemic and have suffered suspension of football matches (the epidemic data is as of March 15).
The suspension of the game caused the club to lose a huge amount of revenue from tickets and broadcast fees, which caused huge losses to the club and caused a sharp drop in stock prices. Therefore, even if Manchester United have performed well recently, they still cannot bear the influence of the big background. The first is the stock price caused by the epidemic
Subsequently, this volatile downward trend of Manchester United ceased and became
Apart from Manchester United, how about the share prices of the other 22 European listed clubs? According to data from Stoxx.com (as shown in the figure below), overall, the changes are similar to Manchester United. First, affected by the epidemic, it began to fluctuate and fall around February 20, and then began to plummet under the combined effects of the epidemic and the circuit breaker. Compared with the highest point in the past year, the overall decline of these 22 clubs has been close to 30%. Among them, compared with before the outbreak in Europe, Juventus' share price has almost been cut in half and has returned to the level before Ronaldo joined.
If a club player is diagnosed, will it exacerbate the club's share price decline? The answer is yes. Because even if the club’s league is not suspended, if there is a confirmed case, the club needs to be isolated and cannot play. At the same time, the player's recovery and team infection will also affect the team's performance in the later stages. Take Juventus as an example. In the early morning of March 12, its defender Rugani was diagnosed with the new crown virus. After the opening, the stock price plummeted from 0.664 euros on March 11 to 0.545 euros on March 12, reaching The lowest value in a year, a single-day drop of 17.9%. However, this effect will not make the market continue to be pessimistic. On March 13, Juventus' share price rose back to 0.608 euros.
如果诊断出俱乐部球员，会加剧俱乐部股价下跌吗？答案是肯定的。因为即使俱乐部的联赛未暂停，但如果有确凿的情况，俱乐部也需要被隔离并且不能参加比赛。同时，球员的康复和球队感染也会在以后的阶段影响球队的表现。以尤文图斯为例。 3月12日凌晨，其后卫Rugani被诊断出患有新的冠状病毒。开盘后，股价从3月11日的0.664欧元暴跌至3月12日的0.545欧元，达到一年来的最低值，单日跌幅为17.9％。但是，这种影响不会使市场继续悲观。 3月13日，尤文图斯的股价回升至0.608欧元。
As mentioned earlier, the Turkish league has not been suspended due to the epidemic, which means that broadcast revenue and ticket revenue are basically unaffected. So, how about the stock market performance of the four listed football clubs in Turkey? Take Besiktas as an example. As shown in Figure 8, its share price has also fallen sharply since February 20. Although it has occasionally fallen, it seems to be a drop in the bucket. From February 20 to March 13, the opening price was almost cut in half. The other three clubs: Fenerbahçe, Galatasaray, Trabzonspor, the stock market performance is similar to Besiktas, so I won’t repeat them here. Therefore, in this global epidemic, regardless of whether it is directly threatened by the epidemic, everyone may be a victim, and everyone is also responsible for fighting the epidemic.
Are there any listed football clubs that have not been affected? Yes, the Porto Club of Portugal. After the outbreak in Europe, Porto’s share price rose against the trend, from 0.77 euros on February 19 to 0.90 euros on March 13 (as shown in the figure below). Therefore, if clubs want to restore market confidence, they might as well learn how Porto does it.
At present, the decline of all 23 clubs (from February 19 to March 13) is shown in the table below. It can be seen that there is no obvious correlation between the magnitude of the decline and the severity of the epidemic in the country, because the top two declines are the two clubs in Turkey. Porto is also the only club whose share price has risen (Tetovo data has not yet been found).
So, is the impact of the epidemic on listed football clubs unprecedented in terms of stock prices? no. Fenerbahçe’s share price in November 2018 was lower than it is now; Benfica’s share price before November 2019 was only 2/3 of the current level; Manchester United’s lowest share price was not recent, but in October 2012; 22 European listed companies The club’s stock market performance in 2016 was only half of the current level. These 23 clubs have all recovered from worse than the current situation, and the current plight will pass. I believe that a few months later, the game will continue, and the shouts of the fans will still echo in the stadium. These 23 clubs, hundreds of other clubs, and hundreds of millions of fans, will continue to be crazy about football as usual!