The elimination of the national team, which will miss the World Cup for the third consecutive time, is not only a blow to national pride but also a harsh financial reality that will cost the Italian economy an incredible billion euros.
The first impact was felt by the Italian Football Federation, which directly lost around 30 million euros from its pocket. The loss began the moment they became ineligible for FIFA's prize funds of over ten million euros, and the situation was further worsened by the contract with the technical sponsor. Adidas, in fact, activated a clause that reduces the annual payment by almost ten million euros due to the absence from the U.S. market.
When you add the complete collapse in jersey sales and the halt of new sponsorship deals, it is clear that the Zenica night left devastation in the Italian Federation's coffers.
However, the real hole in the budget lies in the marketing and betting sector, where losses are estimated at a staggering 700 million euros.
Italian media highlight that television channels will lose enormous advertising revenues because the Italian national team is absent from the World Cup, while in the sports betting sector, a drop in turnover of a terrifying 600 million euros is predicted.
Without Italy at the World Cup, the motivation of domestic bettors declines, which directly affects the state treasury through unpaid taxes.
The broadest circle of losers includes hospitality and tourism, the so-called "Sistema Italia," which will lose around half a billion euros due to the absence of euphoria.
Empty restaurant and café terraces, which would otherwise be packed during "Azzurri" matches, will become a symbol of economic decline in the coming months.
The missed penalties by Pio Esposito and Bryan Cristante are not just a sporting tragedy for Italians but have signed an economic verdict that will be felt for years on the Boot.