Italian economy set to take €1 billion hit following World Cup flop

ShareClose Comments
Gian Piero Ventura's side failed to qualify for the finals of the competition for the first time in 60 years, and an economic disaster is to follow

Former CONI president Franco Carraro has revealed just how much Italy's disastrous World Cup qualifying campaign is set to cost the nation's economy, estimating a hit of around €1 billion.

Gian Piero Ventura's side were beaten by Sweden in Stockholm on Friday November 10, leaving their place in next year's finals in doubt ahead of the second leg. 

Germany 5/1 favs to win World Cup

A 0-0 followed at packed San Siro on Monday evening, meaning Italy had failed to qualify for the first time in 1958.

Furious reaction from supporters was followed by the retirement of World Cup-winning trio of goalkeeper Gianluigi Buffon, defender Andrea Barzagli and midfielder Daniele De Rossi, marking the end of an era for Azzurri.

Not only will the Italian national team not be taking part in Russia next year, it is set to cost the country, indirectly, around 1bn. 

"It will be roughly 500-600 million, and we must see if we talk about direct or indirect. If it does, indirectly probably surpasses one billion, surely surpasses one billion," Carraro said.

Alessandro Florenzi Italy

Chiellini Italy Sweden

Article continues below

"[President of the Italian Football Federation, Carlo] Tavecchio said he took 48 hours of time - he must look in the mirror, he has to evaluate the situation, and if he thinks there are psychological and environmental conditions to do so, he has to stay. 

"If you think you should stay, you have to tell us exactly what you think.

"Ventura has what is called the objective responsibility of sport policy: when you expect a result and make 10% less, and then you make 80% less, it seems to me objectively difficult."

Next article:
Alderweireld unsure of Tottenham stay after 'unjustified' omission
Next article:
Pussy Riot members jailed for World Cup final protest
Next article:
African All Stars Transfer News & Rumours: Al Nassr plot £40 million move for Ahmed Musa
Next article:
Maradona presented as new chairman of Dynamo Brest in typically elaborate fashion
Next article:
Transfer news & rumours LIVE: Man City won't meet Real Madrid's Kovacic price