Disclosure of the value of the huge losses of England clubs due to the “Corona” pandemic
Premier League clubs have reported a cumulative loss before tax of 1 billion pounds (about 1.4 billion dollars) in the 2019-20 season, which was negatively affected by the outbreak of the Covid-19 pandemic, according to a report published by Deloitte, the audit and financial advisory firm.
"Unsurprisingly, the decline in income for the 2019-20 season was caused by the global economic and social disruption caused by the COVID-19 pandemic," said Dan Jones of the London-based foundation.
English clubs, which were deprived of their fans and thus of their main income (tickets, sale of shirts etc.) and forced to reduce the amounts of television rights, suffered a cumulative loss of nearly one billion pounds, the largest loss in history for the twenty clubs in the Premier League, whose total income before tax fell by nearly 13 percent, according to Deloitte.
"The absence of fans, the postponement of matches and discounts granted to carriers had a significant impact on the revenue that the clubs were able to generate," Jones explained.
And he believed that "the overall financial impact of the pandemic on the English Premier League will depend on the timing of the return of fans in large numbers to the stadiums, and on the ability of clubs to maintain and develop their commercial relations, especially at a time when several other sectors are suffering."
For Jones, "Covid season (...) will continue to have a significant impact on the financial results of the 2020-21 season as and when it becomes available."
He pointed out that the absence of the public should "reflect on the financial results of the 2020-21 season, whose matches were played almost entirely behind closed doors, or with the presence of a very limited number of fans in the stands."
Even after record losses, the 20 clubs in the Premier League still made a cumulative profit of 4.5 billion pounds (about 6.3 billion dollars) during the 2019/2020 season.
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