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European Athletics Championships in the red

The European Athletics Championships, which took place at the Letzigrund Stadium in Zurich in August, were beneficial for tourism and local businesses but caused a CHF3.2 million loss ($3.3 million) for the event organisers because not enough tickets were sold. About 150,000 spectators watched the competitions. The stadium was filled to 81% capacity during the evening and afternoon sessions, but was only 65% full in the mornings. That meant that the profit targets were “clearly missed”, the organisers said on Monday. Massively cheaper ticket prices would have boosted the utilisation of the stadium, but at the same time the profit from the ticket sales would have been even lower, the organisers explained. The budget for the event was CHF33 million. The resulting loss will be covered by the equity capital of the organisers, by private investors, as well as by public funding from the city, the canton and the country. The championships generated sales of CHF146 million ... Show more

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