EuroBasket Economy – What, How and Why / News

Rytis Sabas tells how European champions can make money both organizers and states.

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The European Basketball Championship, long known as the EuroBasket, is huge money. Of course, men are bigger. Since the Old Continent Men’s Championship is about to start and I personally have experience in organizing the men’s EuroBasket, I will talk about men’s money.

Summarize your EuroBasket experience. I am EuroBasket 2011 LOC or Lithuanian VOK – an employee of the Local Organizing Committee responsible for communications. So I have to know the specifics of all the action bars. Among them are marketing and finance. Especially since I prepared a detailed report after the championship. In addition, I was appointed manager of the Klaipėda stage.

Of course, during those eleven years, some things have changed, mostly in currency, with the introduction of the euro in some countries. However, the basic economic principles remain the same.

Outstanding Lithuanian results

Lithuania was the first country to adopt the expanded EuroBasket format. Instead of 16 teams, we have to host 24. It is a big challenge. But it ended very successfully. Many do not believe that a small Baltic state can organize a championship in such conditions (countries like the whole world are struggling with the 2008-2009 economic crisis) without a minus sign in the budget. The Swedes were amazed that the 2003 European Championships, which ended with Lithuania’s victory, almost turned bankrupt.

The organizers’ own income then slightly exceeds 10 million. Euro (34.8 million liters). At the time, Lithuania had no euro. More than half came from ticket sales. Wow! How many unsatisfactory tickets are there, but almost three-quarters of all tickets are sold. You will have a hard time reaching higher numbers knowing that part of the ticket must be used for FIBA ​​purposes.

Yes, FIBA ​​requirements are a bit painful. Not only do you not get paid by FIBA, but they still take a share of the ticket. I remember very well when a FIBA ​​representative would come and bring a ticket as the game approached. Unfortunately, it is still unused – FIBA ​​partners have not come so far on. And it’s too late to put it on the market. There are also media seats – we have to allocate about 300 seats for journalists for each match. If the ticket audience sat there, it would generate an impressive number.

However, this is a small thing. The point is that the state budget was supplemented by about 27 million during EuroBasket 2011. litas (now around លាន 8 million) – from VAT alone.

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