sport

  • 104
Added a post  to  , sport

Italy's victory in the UEFA Euro 2020 football championship final last Sunday is likely to add 0.7 percent to the country's projected gross domestic product (GDP) growth this year, local economists have said. This will certainly be welcome news for an economy struggling to emerge from a slowdown brought on by the coronavirus pandemic.

Italy's dramatic 3-2 penalty shootout win over England on Sunday earned the Italian side their first European title since 1968 and their first world title since their 2006 World Cup victory.

According to studies, the feat is also sparking new rounds of domestic spending and attracting investments from abroad as it has helped boost consumer confidence and improved the image of Italy and Italian products abroad. This boost may be temporary, analysts said, but is still significant.

All in all, the Italian national football team's Euro 2020 victory is projected to "result in an extra 12 billion euros (14.2 billion U.S. dollars), or around an extra 0.7 percent growth in gross domestic product," Simona Caricasulo, an economist specialized in sports-related topics at Rome's LUISS University, told Xinhua on Thursday. She said the impacts would be felt almost exclusively this year.

Full Article >>

Added a post  to  , sport

The European Super League was collapsing on Tuesday night after all six English clubs dramatically signalled their intention to withdraw from the competition after being taken aback by the furious backlash from fans and the government.

It left the £4.5bn league dead in the water less than 48 hours after it was launched, with Chelsea the first go to followed by Manchester City and then, shortly before 11pm, by Arsenal, Manchester United, Liverpool and Tottenham.

The stunning set of U-turns leaves the reputations of the clubs’ owners at an all-time low as they attempt to repair their relationship with supporters. Manchester United’s executive vice-chairman, Ed Woodward, a key architect of the planned breakaway, also resigned after his position became untenable.

While most club statements blandly acknowledged their decision, Arsenal admitted the response from fans in recent days had given them “time for further reflection and deep thought”. In a statement, the club said: “It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.

Full Article >>

Added a post  to  , sport

Some of the world's biggest football clubs have agreed to join a new European Super League (ESL) that will rival the current Champions League competition, one of the biggest club tournaments in world football.

While the new ESL won't replace domestic leagues like England's Premier League and Spain's La Liga, the clubs that compete in it face the threat of being kicked out of their domestic leagues by Europe's football governing body.
Why are these big clubs doing this?

Money seems to be the driving force. The ESL says it will result in a greater distribution of revenue throughout the game.

Football club revenues have been hit hard by the Covid pandemic with disrupted fixtures and lack of spectators. Big clubs have superstar players with multi-million pound salaries that need to be paid.

"The formation of the Super League comes at a time when the global pandemic has accelerated the instability in the existing European football economic model," said a joint statement released by the 12 founding clubs on Sunday.

The new annual European tournament "will provide significantly greater economic growth and support for European football via a long-term commitment," the statement added.

It is offering "uncapped solidarity payments" to European football which will grow in line with league revenues. ESL says these will be "substantially higher than those generated by the current European competition and are expected to be in excess of €10bn (£8.6bn)" during the early stages.

A statement from the new competition said: “AC Milan, Arsenal, Atlético Madrid, Chelsea, Barcelona, Inter Milan, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur have all joined as founding clubs.

Full Article >>

Added a post  to  , sport

Research has long shown that regular exercise has a slew of health benefits like helping to prevent high blood pressure and type 2 diabetes.

Now researchers say regular activity could help protect against severe Covid hospitalizations.

In a new study published in the British Journal of Sports Medicine, researchers and physicians at Kaiser Permanente Fontana Medical Center in Southern California, the University of California, San Diego, and other institutions found that Covid patients who regularly exercised before becoming sick were the least likely to be hospitalized, admitted to the ICU and die as a result of their illness.

The study looked at data from nearly 50,000 adult patients in California diagnosed with Covid-19 from January 2020 to the end of October 2020.

Full Article >>