Football club subscription debt
This blog goes into debt concerns for the sport industry and refers to Football subscription debts for television rights amongst over aspects
Football Subscription Debt
It’s the start of the football season, and among fans hopes are high that this year will be their year. This hope is mirrored by all at the football clubs up and down the country, from the coaching staff to the finance teams. All clubs now diversify their income portfolios, with revenue coming from numerous streams outside of the television rights package. With costs of players’ wages moving steadily upwards and every transfer window breaking new records, it is imperative that clubs maximise their resources.
For some clubs this can mean monetising club content by offering it as subscription service to other countries. This could be exclusive interviews with players and coaching staff, pre and post-match analyses as well as panel discussions with past players. This type of club-specific content can be very lucrative for those clubs with a worldwide fanbase, allowing those fans to feel more connected to the football club, part of a special group with insider insights into what is happening.
Safe money in the bank?
The value of these subscription deals can very quickly accumulate and be a steady source of income for sports clubs. The quality available now via streamed subscription has meant that this service is being taken in greater numbers of countries. However, can this be revenue be counted as safe money in the bank?
Unfortunately, the answer to this is no due to the amount of money owed to the clubs for these services. This kind of debt can very quickly climb past the £1 million mark and can prove challenging to recover.
When you are chasing a late payment, it can prove difficult enough to deal with customers based in the UK, let alone those located around the world. Different languages, laws, payment regulations and customs combine to make these situations much harder to resolve. All of this means that securing payment overseas is a tough task, often taking longer than it does in the UK, but it is vital to protect both your cash flow and reputation.
One of the main problems is that the collection options available tend to differ from country to country, notably between those registered as part of the European Union and those which are not. Currently, business owners can use EU legislation if they are chasing payment from a customer based within it for protection. However, Brexit negotiations have added a layer of uncertainty to the effective recovery of this type of debt with no clear guidelines in place yet as to how this will look post-Brexit.
Due to the complicated nature of this type of recovery it is vital that you engage an experienced and reliable agency to recover your monies. At Daniels Silverman we put the reputation of our clients at the centre of all that we do, meaning that we will endeavour to do all that is possible to recover the money and protect your brand.
Experience of collecting worldwide
With experience of collecting debt worldwide, Daniels Silverman will approach this service with sensitivity, expertly and ethically working on your behalf. Our tailor-made approach means we are able to deliver services irrespective of scale or value of the debts, providing consistent attention to detail to every case.
Why not give Daniels Silverman a try? We are fully GDPR compliant and our debt collection and credit control services are outstanding, and we have the experience to prove it. Find out more by visiting our website and starting a webchat, or give one of our business development team a call on 0800 0730221.