Travelex Singapore
TRAVELEX PRESS RELEASE
Champions League: The Cost of Success
Date : May, 2007
A successful Champions League campaign costs English football fans almost £3000 each, according to foreign exchange specialist Travelex.
For a football fan, the pleasure of watching their team rise to victory is costly. Even worse still, supporters are throwing away hundreds of pounds by not getting the best deal on their foreign exchange. In a season that has seen a record number of English clubs reach the latter stages of the competition, over a quarter of a million football fans have travelled across Europe to 12 different countries to watch 20 away matches, exchanging a total of seven different currencies including the Euro, Russian Ruble, Croatian Kuna, Bulgarian Lev and Turkish Lira.
In reaching the final, Liverpool supporters will spend the most paying out an estimated total of £2,864.05 by the time the team run out for the final in Athens, Greece on 23rd May. Around half of this total must be exchanged into foreign currency to support the costs when travelling to away games abroad. Luckily for fans, the strength of the pound means the cost of living in other countries is often relatively low.
Over the course of the Champions League season, LFC supporters will have attended a total of 12 games, including away games across Europe, spending on average £990 on flights, £290 on additional travel costs, £770 on accommodation, over £250 on beers, £155 on food, and over £20 on half time food alone. The total amount spent by fans is around 14% of the average annual Merseyside salary (approx £21,000).
Cost in sterling of purchasing €350 (16.05.07)
With an average £250 transaction for each game abroad, at least £15 can be saved by getting a good deal on currency, the equivalent of 20 pints of beer in Sofia, Bulgaria (home of Levski Sofia). Travelex research also suggests that each fan wastes an average of £21 per trip on additional costs such as ATM withdrawals (£7), credit card charges (£4.50) and high commission fees when exchanging in hotels (£9.50). That’s a total saving of £216 on foreign exchange alone per fan throughout the tournament.
John Nicholas, Director of UK Retail, Travelex says: “Presuming football fans don’t earn as much as their sporting heroes, it’s important for them to save what they can, when they can. It would be devastating for a fan to watch their team reach the final only to find that cash supplies had run out and they were unable to attend. Supporters will be surprised to discover how much money can be saved just by shopping around for the best deal on currency”.
Liverpool fan Michael McGrath comments: “I’ve been a red since I can remember; I’ll never forget the first game my dad took me to, chanting ‘You’ll Never Walk Alone’ in the Kop – brilliant! I’ve been to every Champions League game this year, its cost me a fair few quid like but I’d do it all over again – although hopefully it won’t cost quite so much the next time round”.
Its not just Liverpool fans that paid extortionate amounts of cash while watching their team rise through the various stages of the Champions League, as both Manchester United and Chelsea reached the semi-finals. Manchester United was the second
| FX providers | Euro Rate | Commissions | Delivery charges | Number of Thai Bhat |
|---|---|---|---|---|
| ICE (highstreet) | 1.3457 | £0.00 | £0.00 | £260 |
| ICE (online) | 1.4160 | £0.00 | £4.95 | £252.13 |
| Post Office (high street) | 1.3969 | £0.00 | £0.00 | £250.55 |
| Post Office (online) | 1.3969 | £0.00 | £5.00 | £255.55 |
| Thomas Cook (high street) | 1.390000 | £0.00 | £0.00 | £251.80 |
| LloydsTSB | 1.390000 | £0.00 | £4.95 | £255.15 |
| Marks and Spencer's | 1.416 | £0.00 | £0.00 | £247.17 |
| Onlinefx.co.uk | 1.4265 | £0.00 | £4.95 | £250.30 |
| American Express | 61.4101 | £5.00 | £0.00 | £253.16 |
| Travelex Price Promise (online) | 1.4259 | £0.00 | £0.00 | £245.45 |
most costly team to follow, with six home and six away games the Red Devils only trailed behind Liverpool by £151.75, stripping each fan of £2,712.30. Chelsea came in slightly less expensive at a total cost of £1,774.70, playing only eight matches – four home and four away.
For the best price foreign currency in the UK guaranteed visit www.travelex.co.uk
- Ends -
NOTES TO EDITORS
Case study available for interview or comment
For further information please contact:.
| Chris Hides | Alex Blundell |
| Talk PR 0207 544 3691 07808 734624 |
Talk PR 0207 543 4735 0777 591 6663 |
About Travelex:
Travelex is the world's largest foreign exchange specialist and non-bank provider of commercial foreign exchange services. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions.
The Group operates through its subsidiaries and branches in four regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific. The Group’s activities are organised into three divisions: Commercial Foreign Exchange (CFX), Retail and Outsourcing.
CFX
Travelex is the world’s largest non-bank provider of commercial cross-border payment services. The business provides international payment services and foreign exchange risk solutions for commercial and personal customers, with products and services comprising multi-currency spot contracts, forward contracts and options.
Retail
Travelex is the world’s largest retail foreign exchange specialist, with nearly 700 retail branches. The business principally operates bureaux de change in airports and tourist locations. The business sells banknotes and other foreign exchange and travel related products by providing services to individuals travelling for business and leisure purposes.
Outsourcing
The business provides outsourced travel money services by supplying the foreign currency needs of financial institutions and travel agencies by supplying both branch and additionally by fulfilling the individual orders of their customers. Other products and services include wholesale banknote fulfilment, the distribution of insurance policies and the issuing of prepaid cards.