Massive losses as Deloitte report shows first Covid impact on Premier League clubs
A new report by Deloitte has shown the first impact of Covid on Premier League clubs.
The report covers the 2019/20 season when football was suspended for the best part of four months in England, starting in early March 2020 as the virus cases spiralled out of control.
A special mention for Newcastle United, they are the only club from that 2019/20 season who have so far refused to publish their accounts for that year. Another full (2020/21) season has already been completed by Premier League clubs and less than nine weeks until the 2021/22 PL campaign kicks off.
What could Mike Ashley possibly want to delay as much as possible going public?
Anyway, the new Deloitte report shows the Premier League clubs collectively reporting a fall in revenue for the very first time.
The collective revenue of Premier League clubs dropped by around 13%, although they still still pulled in a combined £4.5billion.
Dan Jones of the Deloitte sports business group:
“The decrease in revenue in the 2019-20 season is, unsurprisingly, down to the global economic and social disruption caused by the Covid-19 pandemic and will continue to have a heavy impact on the 2020-21 season’s financial results when available.
“The full financial impact of the pandemic on the Premier League will depend on the timing of the return of fans to stadia in significant numbers and the ability of clubs to maintain and develop their commercial relationships, in particular at a time when many other industries are suffering.
“Matchday operations are a cornerstone of a club’s business model and fans’ absence will be more fully reflected in the financial results of the 2020-21 financial year.
“The absence of fans, postponement of matches and rebates to broadcasters had a significant impact on the revenue clubs have been able to generate.
“Once fans are able to return in full, hopefully during the 2021-22 season, Premier League clubs have the potential to again return to record revenue levels.”
There was also a cumulative pre-tax loss of nearly £1billion for the Premier League clubs, the largest in Premier League history, almost five times the previous season’s £200m figure.
Considering none of us have yet seen the Newcastle United accounts for the 2019/20 season, if Mike Ashley remains as owner then who knows how long it will be before we see sight of the 2020/21 NUFC season financials.
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