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Study: Covid-19 to cost Premier League clubs UK£1bn in 2019/20

Getty ImagesClubs face combined UK£1bn loss this seasonUK£500m to be permanently lost with remainder deferred and recoupedFurther UK£350m hit if fans cannot return next seasonPremier League clubs are set for a loss of UK£1 billion (US$1. 2 billion) in revenue in their 2019/20 accounts due to the coronavirus pandemic, financial services firm Deloitte has predicted. Deloitte says top-flight English soccer sides will face a permanent loss of UK£500 million (US$629 million) made up of rebates to broadcasters and the loss of matchday revenue from the suspension of competition, but that a further UK£500 million missing off the 2019/20 balance sheets will be deferred and recouped in 2020/21 if the competition is able to complete this season and next. Clubs are forecast to earn around half of what they normally would in matchday revenue in the 2020/21 season, with that estimate of UK£350 million (US$409 million) set to be lost if supporters cannot return to stadiums at any stage in the season. Study: Premier League clubs made UK£600m combined loss in 2018/19The grim picture comes against the backdrop of clubs posting record revenues for 2018/19, with the Premier League combined revenues topping UK£5 billion (US$6. 2 billion) for the first time.

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https://www.sportspromedia.com/news/premier-league-covid-19-cost-1-billion-revenue-loss-2019-20

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