In light of the recent news events on the Juventus case, while suspending the judgment on a legally ongoing affair, the worst scenario is concrete, namely that the balloon could deflate. It is the conclusion reached by an analysis by ANRAthe Association of Risk Managers and Corporate Insurance Managers.
The same consideration can be made for all sports with high media visibility and stressed by professional components such as tennis, basket, athletics.
“Today more than ever, in the world of sports federations and clubs, a greater diffusion of the culture of Enterprise Risk Management is needed” – declares theANRA – National Association of Risk Management – “There are two functions that need to be significantly strengthened: the first is that performed by governance, the other, obviously, the technical-sports area, focusing in particular on the youth sector and its organisation. This is true both when we talk about sport in a social institutional logic, i.e. the one that pertains to the federative vision, and when we deal with the topic in an economic logic typical of the major football clubs, today also listed on the Stock Exchange”.
Every professional sports enthusiast, while also recognizing an important economic role and classification as a specific industrial sector, cannot ignore the concern that it is managed in a managerial way with the utmost awareness of the underlying risks.
After the first sentence of the sports justice regarding the budgetary irregularities caused by capital gains on the sale of players, a well-known sports commentator observed that the real reputational risk is not only in the team involved: “It is it is difficult for a ten-year-old boy to become a Juventus fan now, but there is also a real risk that he will not be completely passionate about football”.
The most popular sport should give a virtuous example and the application of a precise risk management strategy could contribute to the activities necessary for a structured recovery, concludes the study.