Switzerland’s century-long grip on global sports business continues to slip, and the latest casualty sits in Nyon. CAA Eleven, the agency controlling UEFA’s national team commercial rights since 2012, learned last month that its contract ends after Euro 2028.
The Swiss advantage once felt unshakable. Neutrality, banking secrecy, favorable tax treatment for non-profits, and low corporate rates drew FIFA, UEFA, the IOC, and an entire consulting ecosystem. Proximity to European markets sealed the deal.
That formula now shows cracks. Private equity from America and sovereign wealth from the Gulf have poured billions into sport. Meanwhile, European media rights growth has plateaued. Agencies with deep US connections have surged ahead while Swiss-based rivals watch their relationships lose value.
Relevent, headquartered in New York, topped the global agency rankings. Its subsidiary, Relevent Football Partners, handles all men’s UEFA club competitions after beating Lucerne-based Team Marketing in 2025. Team held that mandate for 35 years. The deciding factor: Relevent’s ties to US media conglomerates, including Paramount, which becomes UEFA’s largest club competition revenue source from 2027.
Now Relevent and Saudi-owned Sela reportedly remain the only contenders for CAA Eleven’s portfolio.
CAA Eleven centralized European Championship qualifier rights and helped architect the Nations League. The agency extracted roughly 60% more per tournament from UK broadcasters for Euro 2024 and 2028 despite a stagnant market. Total revenue delivered to UEFA surpasses €8 billion since 2012, projected to reach €13 billion after Euro 2028.
UEFA’s next commercial partner will sell into an uncertain landscape. FIFA’s authority faces challenges as UEFA builds cross-confederation alliances ahead of Gianni Infantino’s potential re-election. The Finalissima, a joint UEFA-Conmebol event, could expand into something requiring hosting and event promotion expertise, not just broadcast sales.
Streaming platforms like Netflix, Apple, and Paramount increasingly demand global rather than market-by-market deals. Living near media partners in New York, Miami, London, and Riyadh now outweighs decades of Swiss networking.
CAA Eleven succeeded in its mission. Team Marketing succeeded before it. European football’s next frontier lies beyond the cantons.
