Maccabi Haifa's Champions League win worth €30m

Maccabi Haifa's dramatic victory over FK Crvena Zvezda (Red Star Belgrade) and qualification for the Uefa Champions League Group Stage will earn the club between €26-30 million. Having won last week's home tie 3-2, the Israelis were trailing 2-0 in Belgrade before goals from Daniel Sundgren and a last minute own goal by Milan Pavkov saw Maccabi over the line for a 5-4 aggregate victory.

Maccabi has twice before reached the Group Stage in 2002/03 and 2009/10. Participating in the lucrative Group Stage of the soccer tournament guarantees teams €15 million from Uefa plus €2.8 million for each victory and €980,000 for each draw in the six-game stage. TV and advertising 'market pool' rights will bring an extra €4-5 million. Ticket sales for what will almost certainly be three sell-out matches at the 30,780 capacity Sami Ofer Stadium against potential opponents like Liverpool, Manchester City, Barcelona or Real Madrid, will be worth another €6 million.

Businessman Yaakov Shahar, 81, who has owned Maccabi Haifa and served as its president since 1992, has according to estimates ploughed more than NIS 100 million of his own money into the club. The club has been Israeli champions for the past two seasons since the arrival of top coach Barak Bakhar, who led the team to the championship for the first time in 10 years. The boost from the Champions League revenue will make Maccabi Haifa firm favorites to complete a hat-trick of Ligat Ha'Al league titles this season.

Published by Globes, Israel business news - en.globes.co.il - on August 24, 2022.

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