Olympiacos cashing in on European success

With their European journey now guaranteed to continue in 2020, Olympiacos’ success on the continent has helped the club secure an impressive financial haul already this season.

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A 1-0 win over Red Star Belgrade in the UEFA Champions League on Wednesday night helped Olympiacos extend their run in Europe as the Piraeus giants will parachute into the UEFA Europa League Round of 32 in the new year.

A campaign that started in July with three rounds of qualifying taking the Erythrolefki through the Czech Republic, Turkey, and Russia will extend into the European winter as Olympiacos look to march towards the Europa League Final in Gdansk, Poland.

Despite memorable performances against the likes of Bayern Munich and Tottenham before outlasting Red Star for a spot in the Europa League, Olympiacos’ players are convinced they haven’t achieved anything just yet. That might be open to debate especially after how far Olympiacos have come just to reach the Europa League knockout rounds, but it’s quite clear how much Olympiacos have achieved from a financial perspective.

Olympiacos took home a cool €380.000 after dispatching Viktoria Plzen in the second qualifying round and after doing the same to the likes of Basaksehir and Krasnodar, the Piraeus side were awarded a further €15.250.000 for reaching the Champions League group stage.

The Matchday 1 draw against Tottenham netted a payout of €900.000 for Olympiacos, but that haul didn’t increase despite the club taking the lead in three of their next four fixtures in the group. Wednesday night’s 1-0 defeat of Red Star, however, was the payday the club was hoping for as it not only meant that the club would progress to the Europa League but that further compensation was en route. In fact, the win over Red Star secured a total haul of €3.200.000 with €2.700.000 as a result of the victory and the remaining €500.000 thanks to clinching a spot in the Europa League Round of 32.

But performance-based incentives aren’t limited to just this season in the Champions League as UEFA also rewards clubs based on their performances in the last 10 years. Olympiacos’ multiplier based on the clubs involved in this year’s competition sees the Erythrolefki ranked 20th of 32 qualified clubs, allowing Olympiacos to net a total of €14.404.000.

Then there’s the market pool share, which despite the damage done on Greece’s coefficient ranking the financial boost PAOK’s elimination from the competition means that Olympiacos takes the entire proceeds of the market pool totalling a cool €5.000.000.

In total Olympiacos have thus far accumulated a total compensation of just over €38.000.000 though that figure is expected to be slightly over €40.000.000 when marketing opportunities associated with the club’s European campaign are considered. It’s a welcome financial boost for the club as the club look to improve their standing in both Greece and in Europe.

2019/2020 European Campaign: Olympiacos’ Compensation

Through December 2019

Qualifying

€380.000 -- advancing to Champions League Third Qualifying Round

€15.250.000 -- advancing to Champions League Group Stage

Group Stage

€900.000 -- 1-1 draw against Tottenham (Matchday 1)

€2.700.000 -- 1-0 win against Red Star Belgrade (Matchday 6)

€500.000 -- Qualifying for Europa League Round of 32

Distribution of Greek Market Pool

€5.000.000 -- 100% distribution as a result of performances by other Greek clubs

Ten-Year Coefficient Compensation

€14.404.000

by Peter Katsiris

Image Source: to10.gr

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