Total losses of the English Premier League clubs clubs reached 600 million pounds in the 2018-2019 season, even before they were affected by the financial implications of the emerging Corona Virus pandemic, according to financial experts revealed yesterday.
A study of Football Corporation, which is specialized in financial affairs, showed that the 20 clubs in the Premier League suffered heavy losses, despite achieving record revenues of 5.15 billion pounds (6.6 billion dollars).
The financial impact of the Covid-19 outbreak will be tremendous in the "Premiership", even if the matches of the current season are resumed behind closed doors. Press reports indicate that the clubs will have to return an amount of 330 million pounds to the transport channels, because the matches are not held on time.
It will also incur losses amounting to EGP 126 million, due to the stoppage of ticket sales revenue.
"The (Covid-19) virus is not the cause of financial hardship in football, it is only a factor that has contributed to accelerating what our data clearly and very correctly identified, as a long-term problem," said Wispel company director Roger Bell.
He continued: «The numbers for the 2018-2019 season are a very confusing and disturbing financial result from the Elite League in England, which is an indication of the major problems with the general financial model.
The cost of salaries in the Premier League clubs rose to 3.12 billion pounds.
Everton announced losses of 111 million pounds, while Chelsea announced 96 million losses.
However, Tottenham is one of the most worrisome clubs in its financial future, as Spears achieved the highest percentage of league profits amounting to 68.8 million pounds in the 2018-2019 season, thanks to reaching the Champions League final before losing to fellow Liverpool, but the London club announced, at the end of Last week, he borrowed 175 million pounds from the Bank of England. The club fears up to 200 million losses next year, due to the stalling of revenue from match tickets, the cancellation of non-football-related events such as NFL matches, concerts and funds that will return it to owners of TV rights.
£ 600 million, losses of English clubs before Corona.
• £ 126 million, to be paid by the clubs, due to the stoppage of ticket sales revenue.
• 3.12 billion pounds sterling, the cost of salaries in the English Premier League clubs.
• 111 million losses for Everton, while Chelsea announced a loss of 96 million.
• 175 million pounds sterling, borrowed by Tottenham from the Bank of England, during the "pandemic".